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...

The oldest university still in operation is approximately 1,750 years old (wordiQ.com, 2004). When compared to firms, universities have stood the test of time, while firms seem to lack longevity. The oldest listed firm still operating is around 225 years old (O’Hara and Mandel, 2004), a...

This paper develops a modelling framework within which questions of fiscal federalism can be handled. Regional computable general equilibrium (CGE) models form one good approach for examining such questions. However, conventional regional CGE models contain little, if any, theory relating to...

This paper analyzes the effect on earnings of the matching of English language skills to occupational requirements. It uses data from the Occupational Information Network (O*NET) database and a “Realized Matches” procedure to quantify expected levels of English skills in each of over 500...