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A model for ordered data with clustering of observations. /

by Fry, Tim R. L | Harris, Mark N.

Publisher: Melbourne, Vic. Melbourne Institute of Applied Economic and Social Research 2000Description: 30 p. tables, graphs ; 21 cm.Availability: No items available

Avoiding debt traps : financial backstops and structural reforms /

by Padoan, Pier C | Organisation for Economic Co-operation and Development | Sila, Urban | van den Noord, Paul.

Publisher: Paris, France OECD Publishing 2012Description: PDF.Other title: OECD Economics Department. Working paper ; no. 976.Online Access: Electronic copy Notes: June 2012Summary: In this paper we develop a simple analytical framework to analyze "good" and "bad equilibria" in public-debt and growth dynamics. The "bad equilibrium" is characterised by the simultaneous occurrence, and adverse feedbacks between, high and growing fiscal deficits and debt, high risk premia on sovereign debt, slumping economic activity and plummeting confidence, whereas a "good equilibrium" is characterized by stable growth and debt and low risk premia. We use this framework to identify - both theoretically and empirically - the good and bad equilibrium levels of debt and policies that can help a country caught in a bad equilibrium to recover. The analysis shows that despite some output loss in the short run fiscal consolidation can help countries escape from the bad equilibrium trap. More broadly, we find that a combination of financial backstops, structural reform and fiscal consolidation is most effective in helping countries getting onto a sustainable path.Availability: (1)

Economic class and the distribution of income : a time-series analysis of the UK economy, 1955-2010 /

by Cuestats, Juan Carlos | University of Sheffield. Department of Economics | Philp, Bruse.

Publisher: Sheffield, U.K. University of Sheffield. Department of Economics 2011Description: PDF.Other title: Sheffield Economic Research paper series ; no. 2011012.Online Access: Electronic copy Notes: April 2011 Includes Bibliography and appendix INTO AND OUT OF WORKSummary: This paper contributes to our understanding of the determinants and dynamics of a Marxian surplus-value rate using quarterly UK data, 1955-2010, and the Johansen (1988, 1991) cointegration and vector error correction model (VECM). A conceptual model is introduced to define surplus-value and its component parts, before elaborating on theoretical issues which are important in estimating the rate. In the empirical analysis we seek to explain distributive conflict, paying attention to three forces which are traditionally seen as drivers of power in distributional struggle: (i) political party; (ii) the size of the 'reserve army' of the unemployed; (iii) working class militancy. Our results suggest a positive impact of unemployment on the rate of surplus-value, and that falling working class militancy tends to raise the rate. Political party also affects the rate of surplus-value with a negative impact on the rate emanating from movement to left-wing government. This analysis demonstrates the ongoing relevance of Marxian economics in providing an alternative, robust and significant explanation of distribution in the post-war UK economy.Availability: (1)

Fiscal costs of climate mitigation programmes in the UK : a challenge for social policy? /

by Marden, Sam | London School of Economics. Centre for Analysis of Social xclusion | Gough, Ian.

Publisher: London, U.K. London School of Economics. Centre for Analysis of Social Exclusion. 2011Description: PDF.Other title: CASEreport ; no. 145.Online Access: Electronic copy Notes: May 2011 Bibliography pp. 29-30Summary: This paper asks whether the policies and programmes enacted to reduce greenhouse gas emissions in the UK will compete with other goals of public policy, in particular social policy goals. The Climate Change Act 2008 has set the UK some of the most demanding targets in the world: to reduce GHG emissions (compared with 1990) by at least 80% by 2050 and by at least 34% by 2020 - just nine years away. A wide array of climate change mitigation policies (CCMPs) have been put in place to bring this about. Will these compete fiscally with the large public expenditures on the welfare state? We address this question by surveying and costing all UK government policies that have a climate change mitigation objective and which are expressed through taxation, government expenditures and government-mandated expenditures by energy suppliers and other businesses and which are directed toward the household sector. Our conclusion is that expenditures on CCMPs are tiny - around one quarter of one per cent of GDP - and will not rise significantly. Within this the share of direct spending by government will fall and that obligated on utility companies will rise. Green taxes are also planned to fall as a share of GDP. There is no evidence here of fiscal competition between the welfare state and the environmental state. However, the use of mandated electricity and gas markets will impose rising costs on the household sector, which will bear more heavily on lower income households and will increase "fuel poverty". Thus demands on traditional social policies are likely to rise. More radical policy reforms will be needed to integrate climate change and social policy goals.Availability: (1)

Flexicurity and beyond : finding a new agenda for the European Social Model /

by Jorgensen, Henning (ed.) | Madsen, Per Kongshoj (ed.).

Publisher: Copenhagen DJOF Publishing 2007Description: 610 p. : ill.Notes: INTO AND OUT OF WORKSummary: 'Flexicurity' - a combination of 'flexibility' and 'security' - has become a hot topic among European politicians. At the European summit on March 2006, the European Council decided to develop a set of common principles of flexicurity. Since then a stream of reports and documents on the subject has come from Brussels. The latest example is a communication from the Commission with the promising title "Towards Common Principles of Flexicurity: More and Better Jobs Through Flexibility and Security". Based hereon, the Council will in December take the final decision on the common principles. Denmark is often taken as a prime example of flexicurity, because of the special combination of low employment protection, high unemployment benefits and active labour market policy. This 'golden triangle' has won international fame and is marketed - also by the European Commission and the OECD - as a prototype of how the appropriate balance between flexibility and security can lead to high employment and low unemployment. It was therefore no coincidence that Denmark was the location for a conference attracting leading European researchers of flexicurity. The event took place in October 2006 and was hosted by the Centre for Labour Market Research (CARMA) at the University of Aalborg. For the first time, twenty up-to-date analysis of flexicurity both as existing national and European institutions and as a political strategy are collected in this edited volume. The contributions are divided into the following topics: Flexicurity as a European strategy to boost the Lisbon agenda; Empirical studies of flexicurity in the EU Member States: How far are they from realizing the ideal of flexicurity? And neglected aspects of flexicurity, like wage formation and flexicurity arrangements at firm level.Availability: Items available for loan: Brotherhood of St Laurence (1).

Google econometrics and unemployment forecasting . /

by Askitas, Nikos | Institute for the Study of Labor | Zimmermann, Klaus F.

Publisher: Bonn, Germany Institute for the Study of Labor 2009Notes: INTO AND OUT OF WORKSummary: The current economic crisis requires fast information to predict economic behavior early, which is difficult at times of structural changes. This paper suggests an innovative new method of using data on internet activity for that purpose. It demonstrates strong correlations between keyword searches and unemployment rates using monthly German data and exhibits a strong potential for the method used.Availability: No items available

Intellectual capital : accumulation and appropriation. /

by Hunter, Laurie.

Publisher: [Parkville, Vic.] Melbourne Institute of Applied Economic and Social Research 2002Description: 66 p.Availability: Items available for loan: Brotherhood of St Laurence (1).

Modelling the impacts of the Henry Review tax recommendations on housing supply and affordability /

by Wood, Gavin | Australian Housing and Urban Research Institute | Ong, Rachel | McMurray, Clinton.

Publisher: Melbourne, Vic. Australian Housing and Urban Research Institute 2011Description: PDF.Other title: The impacts of the Henry Review recommendations on the.Online Access: Electronic copy Notes: Project Number: 80647 URL contains: Final Report: No. 175: The impacts of the Henry Review recommendations on the private rental market? : savings income discount and rent assistance PDF of final reportSummary: The Henry Review recommended two key changes to taxation arrangements to promote more balanced investment in private rental accommodation and improve housing affordability. Recommendations 14-15 are directed at reducing the net benefit of negative gearing for rental investors by introducing a Savings Income Discount (SID) of 40 per cent for net rental income (including capital gains) from non-business assets. Recommendations 51-54 involve the removal of stamp duties and levying of land tax on a per land holding basis. The study uses the AHURI-3M micro-simulation model to simulate the recommended changes. In this first report, the study authors found that negatively geared investors are adversely affected by the SID reforms with their average after-tax economic cost rising by 50 basis points from 8.0 to 8.5 per cent. However the average after-tax economic cost for equity investors (i.e. those not negatively geared) falls by 50 basis points to 7.5 per cent. It is predicted that these lower costs flow through into long term average annual rents, which would fall by just over Availability: (1)

New protectionism under carbon pricing : case studies of LNG, coal mining and steel sectors /

by Edis, Tristan | Grattan Institute | Wood, Tony.

Publisher: Melbourne, Vic. Grattan Institute 2011Description: PDF.Other title: Grattan Institute report ; no. 2011-6.Online Access: Electronic copy Notes: September 2011 Bibliography : p. 59-63Summary: The Federal Government has released a Clean Energy Plan and a draft of a Clean Energy Bill 2011 as part of its response to climate change. The plan provides assistance to Australia's emissions-intensive trade-exposed industries, which have argued that they should not pay a full price for their carbon pollution, or that taxpayers should pay them to reduce their emissions. There is a legitimate role for government to protect industries by exempting them from some of their carbon pollution costs, where there is a credible threat that this could result in production shifting overseas without any improvement in global emissions (known as carbon leakage). However exemptions must be tightly targeted, because they increases the cost borne by the rest of the community to achieve Australia?s emission reduction targets. This report scrutinises three industries prominent in their claims for exemptions and other assistance: black coal; liquefied natural gas (LNG); and steel. It finds that taking into account recent commodity prices and exchange rates, the level of protection in the draft legislation is unjustified and costly.Availability: (1)

OECD factbook 2010 : economic, environmental and social statistics. /

by Organisation for Economic Co-operation and Development.

Publisher: Paris, France Organisation for Economic Co-operation and Development 2010Description: Web.Notes: 2006 available in hardcopy 330.9 OECSummary: OECD's dynamic and comprehensive statistical annual showing a wide range of key statistics for its member countries and major additional countries. For each indicator presented, there is explanatory text including a definition, explanation of long-term trends, and references; a table showing the indicator over a significant time span for all countries covered, and graphics showing the key messages contained in the data. Under each table is a link to an Excel spreadsheet enabling the user to access the data. This publication is available in print form, on USB key, and in html form.Availability: Items available for loan: Brotherhood of St Laurence (1).

OECD review of regulatory reform : Australia 2010 : towards a seamless national economy /

by Organisation for Economic Co-operation and Development.

Publisher: Paris, France Organisation for Economic Co-operation and Development 2010Description: PDF.Other title: Australia : towards a seamless national economy.Online Access: Electronic copy Notes: Includes bibliographical references (p. 204) Contents: Pt. 1. The macroeconomic context: Ch. 1. Perfromance and appraisal -- Pt. 2. Regulatory reform: Ch. 2. Regulatory governance -- Ch. 3. Mid-level regulatory governance - Commonwealth-state relationships -- Pt. 3. Competition and market openness: Ch. 4. Competition policy -- Ch. 5. Market openness.Summary: Australia has been one of the most successful OECD countries in weathering the Global Financial Crisis. Mature regulatory settings and a strong fiscal position have worked in Australia's favour; it was among the few OECD countries which did not enter a recession. However Australia still has a challenge to lift productivity to return to a higher long-run growth path and continued future prosperity.Availability: (1)

Recent Trends in the Distribution of Income : Labor, Wealth and More Complete Measures of Well Being /

by Smeeding, Timothy M | University of Massachusetts-Amherst. Political Economy esearch Institute | Thompson, Jeffrey P.

Publisher: Amherst, Mass. University of Massachusetts-Amherst. Political Economy Research Institute 2010Description: PDF.Other title: University of Massachusetts-Amherst. Political Economy.Online Access: Electronic copy Notes: June 2010 Bibliography : p. 33-38 INTO AND OUT OF WORKSummary: The impact of the great recession on inequality is unclear. Because the crises in the housing and stock markets and mass job loss affect incomes from across the entire distribution, the overall impact on inequality is difficult to determine. Early speculation using a variety of narrow measures of earnings, income and consumption yield contradictory results. In this paper, we develop new estimates of income inequality based on 'more complete income' (MCI), which augments standard income measures with those that are accrued from the ownership of wealth. We use the 1989-2007 Surveys of Consumer Finances, and also construct MCI measures for 2009 based on projections of assets, income, and earnings.Availability: (1)

Suntory and Toyota International Centres for Economics and Related Disciplines (STICERD). /

by London School of Economics and Political Science.

Publisher: 07/21/2003 16:24:36http://sticerd.lse.ac.uk/ 2003Notes: Description based on contents viewed : 07/21/2003 Mode of access : WORLD WIDE WEB ONLINE RESOURCESummary: Welcome to the home page for STICERD -The Suntory and Toyota International Centres for Economics and Related Disciplines, interdisciplinary research centres based in the new LSE (London School of Economics and Political Science) Research Laboratory.Availability: Items available for loan: Brotherhood of St Laurence (1).

The boomerang paradox : how a nation's wealth is creating fuel poverty - and how to defuse the cycle /

by Simshauser, Paul | Nelson, Tim | Doan, Thao.

Publisher: North Sydney, N.S.W. AGL 2010Description: PDF.Other title: AGL Applied Economic & Policy Research working paper ; no. 17.Online Access: Electronic copy Notes: April 2010 Bibliography pp. 28-30Summary: A characteristic of advanced economies is continual growth in household income and plunging costs of electric appliances. In Australia, increases in household floor-space combined with power prices that are among the lowest in the world have resulted in rapid growth in peak demand. The power grid in turn requires substantial incremental generating and network capacity, which is utilized momentarily at best. As the cost of augmentation is gradually revealed, fuel poverty seems predictable. We call this the Boomerang Paradox; the nation's rising wealth has created the pre-conditions for fuel poverty. But appropriate and timely policy settings can defuse its effects.Availability: (1)

The Corridor Model - relaunched /

by Busch, Klaus | Friedrich Ebert Stiftung.

Publisher: Berlin Friedrich Ebert Stiftung 2011Description: PDF.Online Access: Electronic copy Notes: July 2011Summary: The corridor model developed at the end of the 1990s is to be regarded as an important building block in this context of alternative policy conceptions (Busch 1998). Its aim is to ensure that a country's level of economic output and level of welfare state development are linked in the EU, as well as to prevent social dumping and avoid the overburdening of less developed states.Availability: (1)

The effects of macroeconomic conditions on the education and employment outcomes of youth /

by Hérault, Nicolas | University of Melbourne. Melbourne Institute of Applied Economic and Social Research | Kostenko, Weiping | Marks, Gary | Zakirova, Rezida.

Publisher: Parkville, Vic. Melbourne Institute of Applied Economic and Social Research 2010Description: 29 p. : ill.Other title: Melbourne Institute of Applied Economic and Social Research.Online Access: Electronic copy Notes: March 2010 SCHOOL TO WORKSummary: This paper examines the impact of macroeconomic conditions on the education and employment outcomes of youths in school-to-work transition. The dataset is based on five different cohorts from the Youth in Transition surveys (YIT) and the Longitudinal Surveys of Australian Youth (LSAY) and covers the period from 1985 to 2006, which is long enough to control explicitly for both poor and positive macroeconomic conditions. The multivariate analyses show that both the unemployment rates, and to a lesser extent economic growth rates, have an impact on youths? education and employment outcomes. Although the effects vary significantly by gender and education level, overall the results reveal that poor macroeconomic conditions tend to drive young people out of full-time work and into inactivity or part-time work. In addition, poor macroeconomic conditions tend to discourage further education. A result worth noticing is that males who did not complete secondary school suffer the largest increase in unemployment risks as the unemployment rate increases.Availability: Items available for loan: Brotherhood of St Laurence (1).

The effects of monetary policy on unemployment dynamics under model uncertainty : evidence from the US and the Euro Area. /

by Altavilla, Carlo | Ciccarelli, Matteo.

Publisher: Munich, Germany CESifo 2009Description: 44p.Online Access: DOWNLOAD PDF Notes: This 44-page paper explores the role that the imperfect knowledge of the structure of the economy plays in the uncertainty surrounding the effects of rule-based monetary policy on unemployment dynamics in the Euro area and the US Into & out of work INTO AND OUT OF WORKSummary: This paper explores the role that the imperfect knowledge of the structure of the economy plays in the uncertainty surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian model averaging procedure on a wide range of models which differ in several dimensions to account for the uncertainty that the policymaker faces when setting the monetary policy and evaluating its effect on real economy. We find evidence of a high degree of dispersion across models in both policy rule parameters and impulse response functions. Moreover, monetary policy shocks have very similar recessionary effects on the two economies with a different role played by the participation rate in the transmission mechanism. Finally, we show that a policy maker who does not take model uncertainty into account and selects the results on the basis of a single model may come to misleading conclusions not only about the transmission mechanism, but also about the differences between the euro area and the US, which are on average essentially small.Availability: Items available for loan: Brotherhood of St Laurence (1).

Work choices of married women : drivers of change /

by Cai, Lixin.

Publisher: Melbourne, Vic. Productivity Commission 2010Description: PDF.Other title: Productivity Commission. Visiting researcher paper ; no. 1.Online Access: Electronic copy Notes: January 2010 Bibliography : p. 61-63 INTO AND OUT OF WORKSummary: This study on the labour supply decisions of married women by Dr Lixin Cai is the first to be published under the Commission's Visiting Researcher Papers series. The study, drawing on HILDA panel data, estimates the influences affecting married women's participation in the labour force and how this changes with changes in their lives. The analysis provides useful estimates of parameters that assist in predicting how changes in these well-known factors affect labour force participation. It finds that there is no inherent state dependence in labour force status for married women, but rather that the observed inertia arises from unobserved individual characteristics. This report adds both to our understanding of what affects labour supply decisions and techniques for analysing panel data.Availability: Items available for loan: Brotherhood of St Laurence (1).

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