This paper develops a bioeconomic model that captures the underlying incentives driving the serial depletion of pristine seamounts. The determinants under New Zealand's Quota Management System relate to unit cost savings from bottom trawling for orange roughy on seamounts, where catch rates are...

Data show that educated workers earn higher wages and experience lower unemployment rates. Some researchers believe this occurs because education improves a worker's productivity (or human capital), making them more desirable on the job market. Other researchers believe schooling improves a...

This paper investigates an appropriate choice of anchor currency for a proposed Melanesian currency union under various hypothetical currency union arrangements. Drawing from the optimal currency area (OCA) theory and related extensions, the analysis focuses on the effects of a currency union on...

This paper analyses an entry timing game with uncertain entry costs. Two firms receive costless signals about the cost of a new project and decide when to invest. We characterize the equilibrium of the investment timing game with private and public signals. We show that competition leads the two...

Most studies find that relative price variability (RPV) is a U-shaped or V-shaped function of anticipated inflation, and a V-shaped function of unanticipated inflation. One exception is Reinsdorf (1994), who finds that RPV in the United States during the 1980s recession was monotonically...

On-going debate of a Pacific Islands currency union has rekindled the argument on whether Pacific Island Countries (PICs) demonstrate symmetric behavior in their business cycles as a precondition for a union according to the OCA theory. Unfortunately for the PICs, there are no empirical studies...

We analyse the impact of proposed changes in US legislation to allow greater use of dairy concentrate products in the production of fresh milk products. This change could potentially have a large impact on dairy trade as US tariffs on concentrated dairy products are low relative to average dairy...

Recent empirical research into the macroeconomic effects of fiscal policy shocks has generated a 'puzzle'. Both Keynesian and Real Business Cycle models predict that a fiscal expansion will lead to a real exchange rate appreciation. However, in almost all the countries that have been studied,...

Using a survey and an experiment, we identify the personal characteristics associated with the difference between an individual's giving to charity and her vote in a referendum on charitable giving. Under certain circumstances, high levels of self-reported trust and happiness, and participation...

We describe a new process for creating points systems for prioritising patients for elective health services. Beginning in 2004, the authors were closely involved in a project to develop the process, initially for coronary artery bypass graft surgery and then successively for other elective...