This study examines the links between inequality in the time allocations of partners in couple families and the satisfaction they have with the way they spend their time. It uses time diary and self-reported satisfaction data from the 2006 Australian Time Use Survey. It shows that inequality in...

This article develops a new family of Gaussian macro-dynamic term structure models (MTSMs) in which bond yields follow a low-dimensional factor structure and the historical distribution of bond yields and macroeconomic variables is characterized by a vector-autoregression with order p 1. Most...

Yield curve fluctuations across different currencies are highly correlated. This paper investigates this phenomenon by exploring the channels through which macroeconomic shocks are transmitted across borders. Macroeconomic shocks affect current and expected future short-term rates as central...

This paper explores the implications of filtering and no-arbitrage for the maximum likelihood estimates of the entire conditional distribution of the risk factors and bond yields in Gaussian macro-finance term structure model (MTSM) when all yields are priced imperfectly. For typical yield...

In this paper, I propose a general pricing framework that allows the risk neutral dynamics of loss given default (Lℚ) and default probabilities (λℚ) to be separately and sequentially discovered. The key is to exploit the differentials in Lℚ exhibited by different securities on the same...

Gender pay issues in the US labour market are examined using 1990 and 2000 US Census data for three groups: the native born, immigrants from English-speaking countries and immigrants from non-English-speaking countries. Quantile regression estimates reveal different patterns of wage effects...

This article develops a rich class of discrete-time, nonlinear dynamic term structure models (DTSMs). Under the risk-neutral measure, the distribution of the state vector X_t resides within a family of discrete-time affine processes that nests the exact discrete-time counterparts of the entire...

There have been significant increases in female participation in secondary and higher education in Australia over the past 39 years. To account for these changes, models of educational attainment were estimated for all individuals as well as for females from different age groups.The results...

The decision to invest in education is influenced by a large number of economic, social, family, personal and institutional factors. Many of these changed in Australia during the 1970s and 1980s. Several of the more important of these changes, such as the Equal Pay for Equal Work decision of...