Using a four-state model, we show that Australian labour markets became more flexible after 1980, but most gains occurred before 1993. We find that the responses of the transition probabilities to the phases of the business cycle are gender-dependent. For men, job-losing probabilities are...

Intervention by the Reserve Bank of Australia on foreign exchange markets from 1983 to 1997 is conjectured to have been determined by exchange rate trend correction, exchange rate volatility smoothing, the U.S. and Australian overnight interest rate differentials, profitability and foreign...

Panel unit root tests show that intranational purchasing power parity cannot be rejected across major Australian cities from 1972:3 to 1999:1. The persistence of deviations in response to shocks is low, as measured by the estimated exact half-life of between five and ten quarters. This is much...

Books reviewed: William Coleman and Alf Hagger, The Rage Over Economic Rationalism and the Campaign Against Australian Economists Hian Teck Hoon, Trade, Jobs and Wages Yoram Amiel and Frank A. Cowell, Thinking About Inequality Paul Downward and Alistair Dawson, The Economics of Professional Team...

We study the role of bargaining as a barrier to migration in the equilibrium of a two-country world with imperfectly competitive labor markets. Equilibrium migration is jointly determined by relative labor market bargaining powers, productivity and costs of migration. If migrants complement host...

We quantify how output risks are smoothed within Australia, and between Australia and New Zealand. About 85 percent of shocks were smoothed within Australia through credit and capital markets, with fiscal policy a source of dis-smoothing after 1992. Risk-sharing between Australia and New Zealand...