Australian Economic Papers最新文献

{"title":"Understanding Low Levels of Participation and Diversity in Economics: A Survey of High School Students","authors":"Tanya Livermore,&nbsp;Mike Major","doi":"10.1111/1467-8454.12402","DOIUrl":"https://doi.org/10.1111/1467-8454.12402","url":null,"abstract":"<div>\u0000 \u0000 <p>Using data from a novel survey of over 4800 students, we examine the low levels of participation and diversity in Economics at Australia's high schools. We find that student demand for Economics as a subject is strongly associated with socio-educational advantage and sex, even when accounting for sample selection in whether schools offer Economics. Students typically have positive perceptions of economics as a field; however, the perceptions of Economics as a subject tend to be negative. Males compared to females, and students from more socio-educationally advantaged schools compared to less socio-educationally advantaged schools have more favorable perceptions of Economics as a subject, which is reflected in a higher likelihood of them choosing to study Economics. Controlling for a greater perceived understanding of what the subject of Economics is about does reduce some of the sex and socio-educational differences in perceptions, but a gap remains.</p>\u0000 </div>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"64 3","pages":"368-379"},"PeriodicalIF":1.7,"publicationDate":"2025-05-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144927615","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Energy Transition and Household Carbon Emissions in China","authors":"Su Yan,&nbsp;Lu Jin,&nbsp;Wang Tianhui","doi":"10.1111/1467-8454.12401","DOIUrl":"https://doi.org/10.1111/1467-8454.12401","url":null,"abstract":"<div>\u0000 \u0000 <p>This paper uses CFPS 2014, 2016, and 2018 micro-survey data to measure the level of household carbon emissions and utilizes Chinese city data to construct a composite index to measure the development level of energy transition and then empirically examines the impact of city energy transition on household carbon emissions through macro–micro data matching. It is found that the higher the index level of energy transition, the more obvious the inhibitory effect on household carbon emissions. Subsequently, the robustness test and the estimation results considering the endogeneity problem are not significantly different from the baseline regression findings. The mechanism analysis suggests that energy transition will have an indirect effect on household carbon emissions through green technology innovation, environmental regulation and the adjustment of consumer lifestyles. The heterogeneity study found that the impacts of energy transition on different household age structures, housing sizes, geographic locations and energy structures show significant differences. This paper has important policy implications for accelerating city energy transition, promoting energy structure transformation, and guiding household decarbonization.</p>\u0000 </div>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"64 3","pages":"356-367"},"PeriodicalIF":1.7,"publicationDate":"2025-04-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144927745","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Effect of the Membership in the World Trade Organization on Income Inequality","authors":"Sèna Kimm Gnangnon","doi":"10.1111/1467-8454.12400","DOIUrl":"https://doi.org/10.1111/1467-8454.12400","url":null,"abstract":"<div>\u0000 \u0000 <p>This note investigates empirically the effect of membership in the GATT/WTO on trade policy and income inequality in developing countries. The analysis has shown that GATT/WTO membership is associated with trade policy liberalization and lower income inequality, although the magnitudes of these effects vary across groups of countries.</p>\u0000 </div>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"64 3","pages":"380-385"},"PeriodicalIF":1.7,"publicationDate":"2025-04-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144927546","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Is There a Public Sector Wage Premium in Vietnam? New Evidence From the Vietnam Household Living Standard Survey","authors":"Van-Phuc Phan,&nbsp;Martin O'Brien","doi":"10.1111/1467-8454.12399","DOIUrl":"https://doi.org/10.1111/1467-8454.12399","url":null,"abstract":"<p>The identification of a public sector wage premium or penalty is of specific interest in fast and emerging economies, particularly those that have transitioned from state controlled to market economies. Using Vietnam as a case study, our initial descriptive statistics analysis showed that average hourly wage rates for public sector workers exceeded those for private sector workers from 2014 to 2020. However, after applying a propensity score matching (PSM) method and controlling for worker and job characteristics, remuneration for a public sector worker was between 17.6% and 27.8% lower than that for a private sector worker. Further exploration of this result revealed that the public sector employs a large proportion of university graduates; however, it pays a lower return to human capital compared to the private sector. The main policy implication from our findings is that the government is likely to face a public sector skills shortage in the future unless it significantly increases the returns to education in its remuneration policies.</p>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"64 3","pages":"345-355"},"PeriodicalIF":1.7,"publicationDate":"2025-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8454.12399","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144927795","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Understanding the Catalysts of China's Great Moderation During the Post-Crisis Era: An Industrial Structure Evolution Perspective","authors":"Liguo Xue,&nbsp;Yongyuan Ma","doi":"10.1111/1467-8454.12398","DOIUrl":"https://doi.org/10.1111/1467-8454.12398","url":null,"abstract":"<div>\u0000 \u0000 <p>Previous research has primarily examined the driving dynamics of the Great Moderation through the lens of stochastic shocks or monetary policy, overlooking the influence of industrial structure evolution. To bridge this gap, our study aims to investigate the driving dynamics of China's Great Moderation during 2012–2019 by adopting an industrial structure evolution perspective. To elucidate the underlying driving dynamics, the time-varying parameter structural vector autoregressive (TVP-SVAR) model with sign restrictions, along with impulse response analysis, forecast error variance decomposition, and Granger causality test were employed. The results indicate that China's Great Moderation during the post-crisis era is mainly due to the upgrade of industrial structure and supply-side structural reform. Moreover, our paper assesses whether regional differences might influence the aforementioned conclusions. We also investigate the driving dynamics of the Great Moderation in China and other emerging economies, such as Russia and Brazil, which share similar industrial structure evolution patterns. The results consistently highlight the crucial role played by industrial structure upgrade in the Great Moderation. Our work offers valuable theoretical and policy insights for macroeconomic stability in emerging economies.</p>\u0000 </div>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"64 3","pages":"330-344"},"PeriodicalIF":1.7,"publicationDate":"2025-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144927791","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Correction to “The Australian Greens' Public Property Developer: An Input–Output Analysis”","authors":"","doi":"10.1111/1467-8454.12397","DOIUrl":"https://doi.org/10.1111/1467-8454.12397","url":null,"abstract":"<p>Satterlee, C. 2025. “The Australian Greens' Public Property Developer: An Input–Output Analysis” <i>Australian Economic Papers</i>, 64, 31–43, https://doi.org/10.1111/1467-8454.12376\u0000 </p><p>In Section 4.5, in the paragraph that begins with “Here is a very basic first simulation to fix ideas,” the following sentences should be removed:</p><p>“Suppose we crudely assume that a typical FTE worker in the RBC industry works 1700 h per year. This assumes a 34-h workweek for 50 weeks of the year, which seems reasonably plausible for many industries including construction.”</p><p>Additionally, the sentence “This is carried out in the following two steps:” should be revised to: “This is carried out as follows:”</p><p>In the subsequent equation, remove the beginning “(i)” while keeping the rest of the equation unchanged, and remove the entirety of equation (ii).</p><p>Thus, the whole paragraph and equation should read as follows:</p><p>Here is a very basic first simulation to fix ideas. Given (a) the direct employment coefficient calculated above, and (b) the required $84.14 billion increase in RBC industry product as calculated in Section 3.3, we can compute the direct number of RBC industry workers required to fulfill the first year of the Greens' plan. This is carried out as follows:</p><p>\u0000 <span></span><math>\u0000 \u0000 <semantics>\u0000 \u0000 <mrow>\u0000 \u0000 <mtable>\u0000 \u0000 <mtr>\u0000 \u0000 <mtd>\u0000 \u0000 <mtext>Additional FTE labour units</mtext>\u0000 </mtd>\u0000 \u0000 <mtd>\u0000 \u0000 <mo>=</mo>\u0000 \u0000 <mfrac>\u0000 \u0000 <mrow>\u0000 \u0000 <mn>1.3</mn>\u0000 \u0000 <mo>×</mo>\u0000 \u0000 <mn>84.14</mn>\u0000 \u0000 <mo>×</mo>\u0000 \u0000 <msup>\u0000 \u0000 <mn>10</mn>\u0000 \u0000 <mn>9</mn>\u0000 </msup>\u0000 </mrow>\u0000 \u0000 <mrow>\u0000 \u0000 <msup>\u0000 \u0000 <mn>10</mn>\u0000 ","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"64 3","pages":""},"PeriodicalIF":1.7,"publicationDate":"2025-03-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8454.12397","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144927705","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Energy Market Uncertainties and Gold Return Volatility: A GARCH–MIDAS Approach","authors":"Afees A. Salisu,&nbsp;Ahamuefula E. Ogbonna,&nbsp;Rangan Gupta,&nbsp;Sisa Shiba","doi":"10.1111/1467-8454.12396","DOIUrl":"https://doi.org/10.1111/1467-8454.12396","url":null,"abstract":"<p>In this study, the GARCH–MIDAS model is utilized to evaluate how predictable oil and energy market uncertainties are in relation to gold return volatility. We examine daily gold returns and monthly energy uncertainty measurements such as oil market uncertainty (OMU) and oil price uncertainty (OPU), as well as measurements of energy market uncertainties such as the global equally weighted energy uncertainty index (GEUI-EQ), GDP-weighted global energy uncertainty index (GEUI-GDP), and country-specific energy uncertainty indexes for 28 countries—spanning the period from January 1969 to October 2022. We calculate the total connectedness index (TCI) for the country-specific indexes as a measure of the composite energy uncertainty index. We find that higher uncertainties in the oil and energy markets lead to increased gold volatilities, suggesting that gold can serve as a reliable hedge against oil and energy market uncertainties. Enhanced trading in the gold market raises its volatility as oil and energy market uncertainties increase. Our analysis, both within the sample and out-of-sample, supports this conclusion, and our findings remain valid even when alternative measures of oil and energy market uncertainties are considered. Further valuable insights, including the practical implications of our findings, extending beyond the hedging prowess of gold against heightened energy uncertainty, are also provided for practitioners, including investors and policymakers.</p>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"64 3","pages":"320-329"},"PeriodicalIF":1.7,"publicationDate":"2025-03-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8454.12396","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144927706","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Impact of Two-Way Mixing Path Choice on Corporate Innovation-A Quasi-Natural Experiment From China","authors":"Kai Wan,&nbsp;Jia Zhao","doi":"10.1111/1467-8454.12395","DOIUrl":"https://doi.org/10.1111/1467-8454.12395","url":null,"abstract":"<div>\u0000 \u0000 <p>This study utilizes data from Chinese publicly listed companies between 2008 and 2020 and applies the PSM-DID model to examine the impact of dual mixed-ownership reform and the shift in relative control rights on corporate innovation, as well as the underlying mechanisms. The results indicate that mixed-ownership reform significantly promotes corporate innovation, particularly enhancing innovation levels in state-owned enterprises. This positive impact of mixed-ownership reform on innovation is more pronounced in large state-owned enterprises. Moreover, when private shareholders acquire relative control, the innovation effect of mixed-ownership reform is amplified. The transfer of relative control rights in smaller private enterprises has an even greater positive effect on innovation. Further analysis reveals that market mechanisms can strengthen the innovation effect of mixed-ownership reform in private enterprises and that such reforms also significantly improve corporate economic performance. Our findings are of great significance for the breakthrough of mixed ownership reform from “quantitative change” to “qualitative change” as well as for promoting reform through classification and stratification.</p>\u0000 </div>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"64 3","pages":"309-319"},"PeriodicalIF":1.7,"publicationDate":"2025-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144927464","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"An Exploration of Auction Price Concentration at the Artist Level","authors":"Tim R. L. Fry","doi":"10.1111/1467-8454.12394","DOIUrl":"https://doi.org/10.1111/1467-8454.12394","url":null,"abstract":"<p>Auction price studies have typically had an object-based focus, employing models to understand the prices of artworks. In this paper, we take an alternative focus on price heterogeneity, considering the artist, not the artworks, as the level of observation. Understanding how factors relating to the artist, such as gender and region, and their work, such as how diverse their oeuvre is, provides new insights into our overall understanding of price heterogeneity in the art auction market. Using panel data from the Australian Art Sales Digest for auctions containing artworks by Australian Indigenous artists, we investigate artist-level price heterogeneity. We find significant impacts of product and supply diversity, regions, fame and the living status of the artist, particularly a strong death effect. Conversely, there are no significant effects of artist supply factors (number of works offered) or the gender of the artist.</p>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"64 3","pages":"299-308"},"PeriodicalIF":1.7,"publicationDate":"2025-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8454.12394","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144927660","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Effectiveness of Macroprudential Policies on Credit Growth in Vietnam","authors":"Thi Thu Hong Dinh,&nbsp;Tuan Huu Nguyen","doi":"10.1111/1467-8454.12393","DOIUrl":"https://doi.org/10.1111/1467-8454.12393","url":null,"abstract":"<div>\u0000 \u0000 <p>This study presents a comprehensive analysis of the effectiveness of macroprudential policies on credit growth in Vietnam. It introduces an advanced approach to create a macroprudential index (MPI) that measures the state of macroprudential policy. The MPI is then applied to a high-frequency database on a monthly basis to estimate its impact on real credit growth and the country's credit growth cycle. The study's comprehensive nature is evident in the manual survey of the policies of the State Bank of Vietnam and the information published by commercial banks from January 1999 to June 2023. The findings reveal that, unlike flexible monetary policy, macroprudential policy tools have gained prominence and have been tightened since 1999. Moreover, empirical evidence suggests that tightening macroprudential policies in Vietnam has helped reduce real credit growth, although they have not been effective in smoothing real credit growth cycles.</p>\u0000 </div>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"64 1","pages":"139-151"},"PeriodicalIF":1.2,"publicationDate":"2025-02-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143530619","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}