Adopting a production function based approach we model the role of health as a regular factor of production on economic growth. Additionally we disaggregate the measures of human capital by including male and female life expectancy and school enrolments. Allowing for the dynamics of TFP to be...

Australia and Norway have achieved modern levels of development as resource-based economies, thus avoiding the so-called resource curse. Their ability to achieve this rested heavily upon diversification into new resource products and industries. These processes relied heavily on innovation,...

A rule for setting a tax on carbon emissions to limit their atmospheric stock to a predetermined level is developed for a world inhabited by uncoordinated, myopic, expected utility maximizing agents. In all locations, the mean of the marginal product of the carbon emitting input diminishes and...

Lucas (1988) hypothesised that human capital externalities explain persistent productivity growth and become manifest via interactions between workplace colleagues. Consistent with the first part of this hypothesis, Fox and Milbourne (2006) concluded that an increase in the average level of...

The Australian conscription lotteries of 1965-1972 are a unique and underutilised resource for studying the effects of army service and veterans’ programs. Drawing on many data sources and 25 years of related US literature, we present a comprehensive analysis of this natural experiment,...

A major motivation of this study is to examine factors that are most important in contributing to the relatively poor efficiency performance of Thai manufacturing SMEs. The results obtained will be significant in devising effective policies aimed at tackling this poor performance. This paper...

Most climate scientists around the world are concerned about global warming. These concerns have resulted in calls for reductions in CO2 emissions over time. If these calls are to be heeded, an appropriate emissions accounting method must first be agreed upon by CO2 emitting countries, none of...

This paper uses optimal control theory to derive a desirable trajectory of the number of royalties-paying users of state-owned spectrum for broadcasting. The spectrum royalties are set by the public planner to maximize the consumers’ utilities over an infinite planning horizon. The...

There is an ongoing controversy over whether banks’ mortgage rates rise more readily than they fall due to their asymmetric responses to changes in the cash rate. This paper examines the dynamic interplay between the cash rate and the variable mortgage rate using monthly data in the post-1989...

We present a new approach to evaluate the full extent of price stickiness in credit card interest rates by modifying the existing asymmetric models so that they can be adopted for testing both the amount and adjustment asymmetries as well as the lagged dynamic inertia. Consistent with similar...