This paper makes new projections of government social outlays for Australia. The calculations suggest that government social outlays will increase considerably as a percentage of GDP over the next 50 years, by 7.3 per cent of GDP in the base case. This is a greater increase than that found by...

This paper compares a form of preferences introduced by Uzawa with additive preferences by simulating for a small open economy the optimal consumption response to permanent and temporary shocks to the world rate of interest. In simulations of permanent changes to the rate of interest, additive...

This paper combines the microeconomic foundations of earlier models of a range of equilibrium rates of employment to generate a model with a diamond of equilibria. Analysis of the diamond model shows that for a depressed economy an expansionary aggregate demand policy can, without violating...

This paper applies a two good, multi-region Ramsey-Solow model of the world economy to determine the impact that alternative world fertility rates would have on international capital markets and living standards. Notable features of the model include: relative consumption demands and relative...

Falling rates of fertility in many countries have led to concerns that low fertility is a threat to future living standards. In this article we report simulations of living standards for Australia that take into account the effect of demographic change. These simulations show that reduced...

This paper provides a new rationale for Uzawa preferences; instead of positing that poor people are more patient because they are poor, it posits that poor people should be more patient if they wish their living standards to catch-up with richer people. To provide a setting for this new...