There are two particular outstanding features of Australia's Current Commonwealth-State Financial Arrangements. The first is the extreme degree of so-called Vertical Fiscal Imbalance (VFI) it exhibits. The second is the sophisticated system for assessing how commonwealth transfers should be...

The aim of this paper is to develop a comprehensive analysis of the shock therapy model of transition. As such the model requires an analysis of what I define as the primary elements: economic analysis, definition of a good society, speed, political structure, ideological structure and initial...