This note provides evidence of neglected seasonality in the "seasonally adjusted" Australian national accounts

A survey of 1800 small and medium sized businesses is used to shed light on the number of workers covered by minimum wage legislation in Australia. Estimates are obtained and reported of the employment effects of changing the way in which minimum wages are set in Australia.

This paper examines the prospects for Australia meeting the Governments target to bring unemployment down to 5 per cent by the year 2000. Particular attention is paid to the effect of the business cycle on unemployment.

Macroeconometric and financial researchers often use binary data constructed in a way that creates serial dependence. We show that this dependence can be allowed for if the binary states are treated as Markov processes. In addition, the methods of construction ensure that certain sequences are...

To match the NBER business cycle features it is necessary to employ Generalised dynamic categorical (GDC) models that impose certain phase restrictions and permit multiple indexes. Theory suggests additional shape restrictions in the form of monotonicity and boundedness of certain transition...

The fact that the Global Financial Crisis, and the Great Recession it ushered in, was largely unforeseen, has led to the common opinion that macroeconomic models and analysis is deficient in some way. Of course it has probably always been true that businessmen, journalists and politicians have...

Theory cannot provide an unambiguous prediction regarding the economic effects of employment protection laws. Such laws confer benefits on employees and shift the labour supply curve to the right. But they also impose costs on business and therefore shift the labour demand curve to the left. The...