This paper details the origin and development of the dependent economy model. The model is also known as the ‘Australian model’ and the ‘Salter-Swan-Corden-Dornbusch model’, but neither title adequately conveys the scope and sequence of contributions that were instrumental to its...

The evolution by sexual selection of the male propensity to engage in conspicuous consumption contributed to the emergence of modern rates of economic growth. We develop a model in which males engage in conspicuous consumption to send an honest signal of their quality to females. Males who...

The 2012-13 Budget, which provides for an increase in taxes of $ 39 billion and a reduction in expenditures of $ 7 billion, is strongly contractionary, reducing aggregate demand by about 2 per cent. The government deserves praise for starting the process of fiscal consolidation in a possible...

As human traits and preferences were shaped by natural selection, there is substantial potential for the use of evolutionary biology in economic analysis. In this paper, we review the extent to which evolutionary theory has been incorporated into economic research. We examine work in four areas:...

Dynamic optimisation is widely used in financial economics, macroeconomics and resource economics. This accounts for friction between the undergraduate and graduate teaching of economics because most undergraduate programmes still concentrate on static economic analysis. This paper shows how,...

During his honours research on an index of industrial production at the University of Western Australia, Salter gained an understanding of the composite commodity theorem. The applied work on the index of industrial production provided him with the analytic foundations for his two famous...