This paper explores weak and semi-stong efficiency for both A and B shares traded on the Shanghai and Shenzhen stock exchanges using daily data for seven indexes for the period 1992-2001. We find evidence of departures from weak efficiency in the form of predictability or returns on the basis of...

Based on a low level of elasticity of substitution between labour and capital in the transitional economies, this paper theoretically suggests how they should be able to reach a stable growth path after a period of rapid dynamic short-run movement. The paper places particular emphasis on the...

This study analyses the general-equilibrium impacts of a number of possible allocation schemes for greenhouse gas emission permits on the Western Australian economy. It finds that emissions would fall by up to 11 percent from the base level in Western Australia. However, such environmental...

The stochastic approach is a new way of viewing index numbers in which uncertainty and statistical ideas play a central role. Rather than just providing a single number for the rate of inflation, the stochastic approach provides the whole probability distribution of inflation. This paper reviews...

This paper examines technical efficiency and its determinants in Chinese manufacturing industries using survey data at the sector level. A stochastic frontier approach is applied to estimate technical efficiency rates for individual sectors. In particular, the empirical analysis focuses on...

This essay reviews the Gallop Government’s revenue raising and tax reform agendas, and considers why these two agendas were not integrated in a united policy framework to improve the long term structure of the state taxation regime in the State. In particular, consideration is given to why,...

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 Australian marijuana prices over the last decade and show that they have declined in real terms by...

Henri Theil devoted a good deal of the last two decades of his professional activities to the analysis of international consumption patterns. He had the bold idea of using a single system of demand equations to explain the variability of consumption patterns across widely diverse countries. In...