Economic PapersPub Date : 2021-04-28DOI: 10.1111/1759-3441.12315
Owen Hogan, Michael A. Kortt, Brian Dollery
{"title":"An Empirical Analysis of International Migrant Business Ownership and Employment in Regional Australia*","authors":"Owen Hogan, Michael A. Kortt, Brian Dollery","doi":"10.1111/1759-3441.12315","DOIUrl":"10.1111/1759-3441.12315","url":null,"abstract":"<p>A broad consensus exists that Australian economic activity is too heavily concentrated in capital cities, and regional employment creation should be encouraged. Given the magnitude of international migration to Australia, it is important to determine the impact of migration on regional development by investigating business ownership and job creation by international migrants in regional areas. This paper examines the probability that regional migrant business owners are employers – and thereby employment generators – using a multivariate logit model. We find that migrant business owners with staff are more likely to be male, married and live in regional NSW, metropolitan Victoria and regional and metropolitan Queensland.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"41 1","pages":"1-14"},"PeriodicalIF":0.9,"publicationDate":"2021-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/1759-3441.12315","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128701221","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic PapersPub Date : 2021-04-24DOI: 10.1111/1759-3441.12314
Jemuel Chandrakumaran
{"title":"An Experimental Method in Juxtaposing Draft Picks and Active Players","authors":"Jemuel Chandrakumaran","doi":"10.1111/1759-3441.12314","DOIUrl":"10.1111/1759-3441.12314","url":null,"abstract":"<p>Trading picks are a common transaction that is observed in sporting leagues that conduct player drafts. However, with its evolution, current iterations allow for the trading of picks and players, which in turn raises questions about valuing such trades. This study proposes a pick valuation system using survival analysis techniques, which was further extended to value players who were already enlisted. The model proved to be viable, allowing to evaluate trades involving both picks and players.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"41 1","pages":"68-77"},"PeriodicalIF":0.9,"publicationDate":"2021-04-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/1759-3441.12314","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"112122641","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic PapersPub Date : 2021-04-24DOI: 10.1111/1759-3441.12313
Serdar Ongan, Ismet Gocer
{"title":"The Impacts of Trade Policy Uncertainties on Bilateral Trade Balances of the United States and Japan","authors":"Serdar Ongan, Ismet Gocer","doi":"10.1111/1759-3441.12313","DOIUrl":"10.1111/1759-3441.12313","url":null,"abstract":"<p>This study examines the impacts of trade policy uncertainties on bilateral trade balances (henceforth, BTBs) of the United States and Japan. This is achieved by using the newly created Trade Policy Uncertainty (henceforth, TPU) index and by also applying the recently created non-linear ARDL approach. The main empirical findings, in summary, are that changes in the TPU index have significant impacts on both countries’ BTBs. Furthermore, while increases in the TPU index in Japan improve US BTB, decreases worsen it. However, increases and decreases in the US TPU index have no impact on Japan’s BTB with the United States. This may lead to the interpretation that Japan’s exporters–importers or Japan’s trade policy are/is not sensitive to changes in the US TPU index, but they/it are/is sensitive to changes in Japan’s TPU index. Based on this result, we may re-classify (to some extent) Japanese exporters–importers as <i>trade policy uncertainty avoidance people</i>, referring to <i>uncertainty avoidance people</i> by Hofstede (1980), since Japanese are one of the highest uncertainty avoidance people in their socio-cultural-economic structure.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"40 3","pages":"236-247"},"PeriodicalIF":0.9,"publicationDate":"2021-04-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/1759-3441.12313","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"104985521","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic PapersPub Date : 2020-11-22DOI: 10.1111/1759-3441.12307
Adam Triggs
{"title":"Stock Markets and Competition: What Does A Concentrated Stock Market Tell Us About Competition In The Economy?","authors":"Adam Triggs","doi":"10.1111/1759-3441.12307","DOIUrl":"10.1111/1759-3441.12307","url":null,"abstract":"<p>The paper presents analysis of market concentration in Australia’s stock market and explores what this might tell us about the state of competition in the real economy. It finds that, on most measures, Australia’s stock market is highly concentrated but is becoming less concentrated over time. Many studies, including leading books on competition policy, have used stock market concentration as a proxy for market concentration in the economy, usually due to data constraints. The paper warns against this. Using the stock market for competition analysis incorrectly defines markets and competition, excludes most competitors, ignores important market dynamics and leads to erroneous results. Declining stock market concentration should not be taken as a sign that competition in the economy is improving.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"40 3","pages":"194-208"},"PeriodicalIF":0.9,"publicationDate":"2020-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/1759-3441.12307","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115742084","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic PapersPub Date : 2020-11-12DOI: 10.1111/1759-3441.12305
Sarah Yanyue Yu
{"title":"An In Medias Res Economic Cost-Benefit Analysis of ACT Container Deposit Scheme","authors":"Sarah Yanyue Yu","doi":"10.1111/1759-3441.12305","DOIUrl":"10.1111/1759-3441.12305","url":null,"abstract":"<p>The paper presents an in medias res economic cost-benefit analysis of a Container Deposit Scheme (CDS) for beverage containers in the Australian Capital Territory (ACT), Australia. The paper examines all cost elements of the scheme – scheme design and administration, scheme coordination, beverage industry compliance, household participation, business participation and container redemption infrastructure and operating costs. The paper also examines all potential benefits – avoided waste collection and transport costs; avoided material recovery facility processing cost; avoided landfill cost; avoided street sweeping cost; value of avoided litter; and value of recyclates. A wide variety of data sources is employed, and some of the critical issues are examined via several approaches. The main finding of the paper is that the ACT CDS is clearly economically worthwhile. The in medias res CBA of the ACT CDS shows the scheme to be highly efficient and thus recommends the continuation of the scheme.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"40 1","pages":"78-90"},"PeriodicalIF":0.9,"publicationDate":"2020-11-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/1759-3441.12305","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132347411","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic PapersPub Date : 2020-10-04DOI: 10.1111/1759-3441.12302
Roslyn Russell, Ashton de Silva
{"title":"Introduction to the Special Issue: Financial Capabilities and Well-being","authors":"Roslyn Russell, Ashton de Silva","doi":"10.1111/1759-3441.12302","DOIUrl":"10.1111/1759-3441.12302","url":null,"abstract":"","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"39 4","pages":"314-317"},"PeriodicalIF":0.9,"publicationDate":"2020-10-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/1759-3441.12302","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133583649","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic PapersPub Date : 2020-09-12DOI: 10.1111/1759-3441.12300
José Alejandro Fernández Fernández, Virginia Bejarano Vázquez, Juan Antonio Vicente Virseda
{"title":"New Approach to Financial and Economic Stability in the United States from a Banking Perspective","authors":"José Alejandro Fernández Fernández, Virginia Bejarano Vázquez, Juan Antonio Vicente Virseda","doi":"10.1111/1759-3441.12300","DOIUrl":"10.1111/1759-3441.12300","url":null,"abstract":"<p>This work analyses the relationships between the banking sector and the economy as a whole in the United States between 1990 and 2016. The data are obtained from the Federal Reserve System (FED) and the Federal Deposit Insurance Corporation (FDIC). The methodology applied is canonical analysis, and this analysis will allow us to obtain composite indicators on the real and financial state of the economy, among other composite indicators. This study’s main contribution and originality is centred on this new way of addressing financial and economic stability. Its contributions to macroprudential policy, as well as the financial and economic stability measures it creates, are valuable.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"40 1","pages":"54-72"},"PeriodicalIF":0.9,"publicationDate":"2020-09-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/1759-3441.12300","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116973086","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic PapersPub Date : 2020-09-12DOI: 10.1111/1759-3441.12296
Maneka Jayasinghe, Eliyathamby A. Selvanathan, Saroja Selvanathan
{"title":"The Financial Resilience and Life Satisfaction Nexus of Indigenous Australians*","authors":"Maneka Jayasinghe, Eliyathamby A. Selvanathan, Saroja Selvanathan","doi":"10.1111/1759-3441.12296","DOIUrl":"10.1111/1759-3441.12296","url":null,"abstract":"<p>Financial resilience is characterised by four sets of variables, namely economic resources, financial inclusion, financial capability and social capital. The purpose of this study is to examine the association between financial resilience and life satisfaction of Indigenous Australians using the (2014/2015) National Aboriginal and Torres Strait Islander Social Survey data. The results reveal that running out of money for living and problems in accessing financial services have significant negative implications on the life satisfaction of Indigenous Australians. The ability to raise money in an emergency, social connections and community support in times of crisis contributes to greater life satisfaction.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"39 4","pages":"336-352"},"PeriodicalIF":0.9,"publicationDate":"2020-09-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/1759-3441.12296","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115293156","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic PapersPub Date : 2020-09-09DOI: 10.1111/1759-3441.12299
Gentjan Çera, Khurram Ajaz Khan, Jaroslav Belas, Humberto Nuno Rito Ribeiro
{"title":"The Role of Financial Capability and Culture in Financial Satisfaction","authors":"Gentjan Çera, Khurram Ajaz Khan, Jaroslav Belas, Humberto Nuno Rito Ribeiro","doi":"10.1111/1759-3441.12299","DOIUrl":"10.1111/1759-3441.12299","url":null,"abstract":"<p>This paper presents an integrated framework for understanding the determinants of financial satisfaction in the context of two European nations with different cultural environments. The direct, indirect and interactive effects were tested through the path analysis method. It was found that to be financially capable is imperative because it governs the impacts of financial attitude and financial knowledge on financial satisfaction. Moreover, findings show that culture matters in explaining differences between countries. Hence, individualistic societies, compared to collectivistic ones, reflect a stronger relationship between financial attitude and financial satisfaction. Additionally, countries showing a high propensity in avoiding uncertainty reflect a negative association between risk tolerance and financial satisfaction, while those lacking such preference manifest a positive relationship.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"39 4","pages":"389-406"},"PeriodicalIF":0.9,"publicationDate":"2020-09-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/1759-3441.12299","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121430253","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic PapersPub Date : 2020-09-07DOI: 10.1111/1759-3441.12298
Christina M. Pollard, Sue Booth, Jonathan Louth, Catherine Mackenzie, Ian Goodwin-Smith
{"title":"“I'd be sleeping in the park, I reckon”: Lived Experience of Using Financial Counselling Services in South Australia*","authors":"Christina M. Pollard, Sue Booth, Jonathan Louth, Catherine Mackenzie, Ian Goodwin-Smith","doi":"10.1111/1759-3441.12298","DOIUrl":"10.1111/1759-3441.12298","url":null,"abstract":"<p>The need for non-profit financial services increases with economic hardship. Consumers' experience of accessing non-profit financial counselling services in South Australia was explored across five focus groups. Thirty-six participants discussed service efficiency and potential improvements. The qualitative analysis we completed revealed five themes. Regarding non-profit financial services: (i) <i>Financial counsellors are life changers</i>; (ii) <i>Microfinance is</i> “critical for survival”; and (iii) They're “hidden”. For-profit products are (iv) <i>Fast & easy</i> “at a cost”; and there is (v) <i>Frustration with broader system failures</i>. Non-profit financial services assisted with consumption smoothing and emotional support, but without adequate income financial well-being was not established. Consumers rely on for-profit products in crisis situations. Findings support policy to build financial resilience and increase income.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"39 4","pages":"353-366"},"PeriodicalIF":0.9,"publicationDate":"2020-09-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/1759-3441.12298","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116143984","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}