This paper examines the character of profitable arbitrage opportunities existing between the Australian share market and the Sydney Futures Exchange's share price index (SPI) contract. It first looks at the nature of the deviation of SPI futures prices from their theoretical values over the...

This paper derives an optimal investment function that combines Tobin's q with Goodwin's nonlinear accelerator. It provides microfoundations to the backward looking behaviour of investment in Goodwin's model, and simultaneously allows the study of Tobin's q into a business cycle model.

The Australian labour market is undergoing fundamental change, following economic restructuring and industrial relations and vocational education reform. This article outlines the recent evidence relating to unequal outcomes for immigrants from non English-speaking background and Aboriginal and...

In this paper we have tested for evidence of nonlinear structure in United Kingdom asset returns including those of real estate and investment trusts, stock market indices and returns for listed real estate companies. While some of our test procedures are designed to test for nonlinear...

This paper studies a differential game between authors and editors. Authors maximize the number of publications seeking to increase the impact of their work in the literature. Editors maximize the quality of papers they publish in order to increase the reputation of their journals. The game is...

This paper examines the structure of yield on Australian Treasury securities ranging in maturities from thirteen weeks to fifteen years using unit roots tests and cointegration tests. There is strong evidence to suggest that the six treasury securities considered, are cointegrated irrespective...

Recently, investment in high technology companies boomed as people invested large sums of money even when there was little chance of the company being profitable. This is contrary to classical beliefs that investors have rational expectations and maximise their utility. Instead we must consider...

Asymmetry in the business cycle has been recognised as a nonlinear phenomenon by a number of recent studies which have examined unemployment rate series in North America, Europe and Australia. While many of these studies hypothesise that linear modelling techniques are inadequate for modelling...