We examine a Markov-Switching model of Singaporean GDP using a combination of formal moment-based tests and informal graphical tests. The tests confirm that the Markov-Switching model fits the data better than a linear, autoregressive alternative. The methods are extended to allow us to identify...

In late 2003 and early 2004 the Economic Society of Australia surveyed the Heads of Economics Departments in Australia to determine their views on three main issues: student standards, major factors affecting these standards, and policy implications. This paper describes the main results of the...

China is currently the world's largest single source of fossil fuel related CO2 emissions. In response to pressure from the international community, and in recognition of its role in global climate change mitigation, the Chinese government has announced a series of climate policy commitments, in...

Designing, modelling and analysing global emissions policies are becoming increasingly complex undertakings. Pressure on developing economies to make quantifiable emissions reduction commitments has led to the introduction of intensity based emissions targets, where reductions in emissions are...

The concept of convergence, defined either narrowly, through productivity or income per capita, or broadly, across a range of economic variables, has become fundamental to the way we assess, analyse and project economic growth in developing economies. To the extent that economic growth...

Economic growth projections are fundamental to long term investment planning by businesses and government. There is an extensive and well developed literature concerned with methodologies for projecting economic growth over short time horizons, but over long horizons, where the goal is to...

China is currently the world's largest single source of fossil fuel related CO2 emissions. In response to pressure from the international community, and in recognition of its role in global climate change mitigation, the Chinese government has announced a series of climate policy commitments, in...

In this paper we develop a small open economy, overlapping generations (OLG) model that incorporates non-stationary demographic transition paths to study the dynamic fiscal effects of demographic shift in Australia. Our main results are summarised as follows. First, the demographic shifts...

Benge (1997) examined the effects of the Australian full imputation company tax system and capital gains tax provisions on dividend policy and financial policy for an optimizing firm. However, there has been no attempt to quantify the financial policy biases that were identified in the earlier...

Any meaningful reform of the US Social Security system must deal with the system's current outstanding accumulated unfunded liabilities. The authors model these as a once-off financial liability payable 'tomorrow'. They show that if the equity premium puzzle arises from adverse selection...