Before the currency crisis of 1997-1998, East Asian financial intermediaries borrowed heavily in international markets. During the crisis, the intermediaries' stock market value declined sharply, and a sizable fraction of the institutions were closed or nationalized. We investigate how the...

An independent currency and a flexible exchange rate generally helps a country in adjusting to macroeconomic shocks. But recently in many countries, interest rates have been pushed down close to the lower bound, limiting the ability of policy-makers to accommodate shocks, even in countries with...

An independent currency and a flexible exchange rate generally helps a country in adjusting to macroeconomic shocks. But recently in many countries, interest rates have been pushed down close to the lower bound, limiting the ability of policy-makers to accommodate shocks, even in countries with...

This paper incorporates search frictions with endogenous job creation and destruction into a two country dynamic stochastic general equilibrium model to explain two macroeconomic facts. First, since the 1980s, European unemployment rates have risen substantially above USA levels. Second, the...

Open economy macro theory says that when a country is subject to idiosyncratic macro shocks, it should have its own currency and a flexible exchange rate. But recently in many countries policy rates have been pushed down close to the lower bound, limiting the ability of policy-makers to...

The economic impacts of altering quarantine policies are divided into two main areas: trade evaluations, utilising a partial equilibrium approach to determine the benefits of market liberalisation; or pest management economics, used to determine the on-ground impacts of introduced species. This...

This paper analyses productivity, profitability and efficiency by climate zone for the WA grains industry over the past 30 years. More specifically, following the studies by the Department of Agriculture and Food of Western Australia (2011) and Che, et.al (2012), this paper uses the Törnqvist...

Recovery beds for cardiovascular surgical patients in the intensive care unit (ICU) and progressive care unit (PCU) are costly hospital resources that require effective management. This case study reports on the development and use of a discrete-event simulation model used to predict minimum bed...

Evaluating the environmental sustainability performance of a nation is complex. This paper considers the merits of environmental indices, and how effective they are when assessing the environmental sustainability of any nation. The simplicity and generic qualities of environmental indices...

In a fixed exchange rate system, any expectation that the peg may be abandoned will normally be reflected in an interest rate differential between instruments denominated in domestic and anchor currencies: the possibility of a revaluation will drive domestic interest rates below those in the...