Farm survey data show that the risk aversion of West Australian farmers is comparable to that of other asset holders. An increase in the variability of crop yield by 20%, which may be caused by future climate change, would raise their willingness to pay for crop insurance almost one-to-one by...

The vintage model of capital accumulation predicts that technical progress depends on the installation of new capital equipment. In this paper it is found that investment raises labor productivity in the G7 countries and Australia. This finding implies that the decline in investment during the...

This paper presents a quantitative analysis of the model developed in Galor and Moav, Natural Selection and the Origin of Economic Growth (2002), in which agents vary genetically in their preference for quality and quantity of children. We simulate a parametric form of the model, enabling...

Australia is a monetary union with strong regional specialization. Manufacturing and service industries are located in the population centres on the south-eastern seaboard, and mining and pastoral activities take place in the interior and north of the continent. Monetary policy affects the...

We present an evolutionary theory of long-term economic growth in which technological progress and population growth are driven by the population size and the innovative potential of the people in the population. We expand on current theory proposing that population growth is proportional to...

Purpose – In Australia broadacre crops can be insured against hail and fire damage and some other perils but not against losses caused by drought, flood or frost. The purpose of this paper is to investigate the private provision of crop insurance in Western Australia....