Using 54 yeras of US quarterly data and a VAR model underpinned by a theory of the relationship between stock prices and output, this paper considers the deviations of US stock prices from their fundamental value. To do this we derive the fundamental price-output ratio and the fundamental stock...

Healthcare spending in Australia has increased rapidly in the past two decades. Part of this has come from the prevalence of lifestyle related illness and demographics, as physical inactivity and ageing have become common. Diabetes is a chronic and costly illness resulting from poor lifestyle...

Using data supplied by the Australian Bureau of Criminal Intelligence, this paper describes and analyses Australian marijuana prices in the 1990s.

Australians are among the largest consumers of marijuana in the world, and estimates show that their expenditure on marijuana is about twice that on wine. In this paper we analyse the evolution of marijuana prices in Australia and show that they have declined in real terms by almost 40 percent...

This paper presents an empirical assessment of the “New Economy” in China, drawing upon the linkage between information technology (IT) and economic growth. The aim of this paper is to interpret China’s economic growth from a perspective which emphasizes IT as a factor in economic growth....

Students’ success during their first year at university is largely influenced by their university entrance score. Personal characteristics and secondary school characteristics also impact on success. This paper uses quantile regression to investigate how the effects of these factors vary along...

Shann Memorial Lecture, 5 September 2002