Human capital is increasingly believed to play an important role in the growth process; however, adequately measuring its stock remains controversial. Because the estimated impact that human capital has on economic growth is sensitive to the measures or proxies of human capital, accurate and...

This paper measures technological change, factor demand and inter-factor and inter-fuel substitutability measures for China. We use individual fuel price data and a two-stage approach to estimate total factor cost functions and fuel share equations. Both inter-factor and inter-fuel substitution...

New estimates of commodity output and patenting are used to explore New Zealand’s transition from extensive to intensive growth. By investigating the cointegrating and causal relationships among the output of 25 industries we show that a small number of common trends shaped the contours...

In this paper graphical modelling is used to select a sparse structure for a multivariate time series model of New Zealand interest rates. In particular, we consider a recursive structural vector autoregressions that can subsequently be described parsimoniously by a directed acyclic graph, which...

It is now recognised that long memory and structural change can be confused because the statistical properties of times series of lengths typical of financial and econometric series are similar for both models. We propose a new set of methods aimed at distinguishing between long memory and...

The responses in New Zealand to the opportunities of refrigeration transformed farming in the Dominion during the half-century from 1890. Closer settlement and the extension of the cultivated area combined with more intensive farming methods to increase land productivity and real gross domestic...

With its rapid economic growth, China's primary energy consumption has exceeded domestic energy production since 1994, leading to a substantial expansion in energy imports, particularly of oil. China's energy demand has an increasingly significant impact on global energy markets. In this paper...

Many are interested in China’s energy situation, however, numerous energy related issues in China still remain unanswered, for example, what are the potential forces driving energy demand and supply? Previous reviews focused only on fossil fuel based energy and ignored other important elements...