No abstract available

Indices of business and consumer sentiment receive widespread media coverage and are closely watched by market economists despite their limited success as leading indicators. In this paper we ask what explains ‘sentiment’ and find that lagged economic indicators (such as changes in GDP, job...

This paper looks at the determinants of national manufactured exports through the use of a panel of Australian states. The panel approach is taken to assess whether the coefficient instability present in direct estimates of export elasticities can be alleviated by utilising the cross-state...

No abstract available

Many of the continous time Ito process models of international asset demand deal with the simplest case of geometric Brownian motion processes for asset prices and exchange rates. Following the single country models, these international models yield restrictions on the moments of the price...

No abstract available

This paper presents a small model of the Australian macroeconomy. The model is empirically based, aggregate in nature and consists of five estimated equations – for non-farm output, the real exchange rate, import prices, unit labour costs and consumer prices. The stylised facts underlying each...

Quarterly national accounts data are amongst the most important and eagerly awaited economic information available, with estimates of recent growth regarded as a key summary indicator of the current health of the Australian economy. Official estimates of quarterly output are, however, subject to...

The paper explores the effects of the reconstruction schemes of the twelve banks of issue which suspended payment in early 1893 on the behaviour of monetary aggregates. Earlier estimates of narrow and broad measures of money seriously underestimate the contraction in the money stock by not...

This paper examines the links between economic growth and the nature of a country’s financial system. It is argued that long-run growth has its roots in resource accumulation, and in particular in knowledge accumulation. The financial system plays an important role in influencing both the...