Australian Economic Papers最新文献

{"title":"The impact of unions on the Australian enterprise bargaining framework","authors":"William Morton","doi":"10.1111/1467-8454.12354","DOIUrl":"https://doi.org/10.1111/1467-8454.12354","url":null,"abstract":"<p>This paper explores the effects of union involvement in enterprise bargaining agreements (EBAs) on non-wage outcomes. My research is carried out through using a dataset of all federal EBAs in Australia from 1997 to 2021 and utilises fixed effects regressions. An index was constructed of 10 variables to capture a comprehensive overview of non-wage outcomes. This paper finds that union involvement in an EBA, on average, is associated with a 0.494 unit increase in the index, or a 13.5% increase on the average index score. Overall, these results provide further insight into union impacts on the labour market within the enterprise bargaining framework.</p>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"63 S1","pages":"13-22"},"PeriodicalIF":1.9,"publicationDate":"2024-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8454.12354","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141091540","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":"From little things big things grow","authors":"John Simon","doi":"10.1111/1467-8454.12360","DOIUrl":"https://doi.org/10.1111/1467-8454.12360","url":null,"abstract":"&lt;p&gt;When Rachel ViforJ first approached me about the RBA being involved in a special issue of Australian Economic Papers featuring the best economic honours theses of the past couple of years, I jumped at the opportunity. The honours programs at Australian universities provide a world-class education in economics to some of our smartest students. A key part of that training is writing a thesis and applying everything they have learnt over the past 3 years to an important economic question. The skills honours students gain through this process is one of the reasons the RBA recruits so many economics honours students. As a result of their experience in honours programs they can very quickly make a contribution to the important public policy issues that we grapple with at the RBA. Consequently, if I missed the opportunity to highlight the quality of economic analysis being done by some of our brightest students, it would be (to borrow an analogy from the great Paul Kelly) like melting wax to fix my wings, losing my shirt or pawning my ring.&lt;/p&gt;&lt;p&gt;This initiative has caused me to reflect on my own experiences as an economics student. When I was doing honours back in the early '90s it was a time of remarkable change in the Australian economy. Significant reforms were sweeping through the economy and we were just emerging from the recession ‘we had to have’. There were major reforms to labour markets, retirement savings, financial markets, foreign trade and the beginnings of a wave of privatisation of government businesses—the economy was opening up and moving into deeper water. My own honours thesis analysed the newly introduced enterprise bargaining system, but there was no shortage of interesting topics to choose from. It was, in short, an exciting time to be an economist.&lt;/p&gt;&lt;p&gt;The benefits of those, and subsequent, reforms were seen over the following decades. There was unprecedented productivity growth through the 1990s and the start of the Great Moderation. While there has been much debate about the causes of the Great Moderation, my own view is that it reflects improvements in economic policymaking—particularly monetary policy. This might have been seen as a triumph for economics, but there was a sting in the tail. Economics came to be seen as boring. All the big reforms had already been done, the economy was travelling nicely and all that was left was some tinkering around the edges. One reflection of this can be seen in the number of students studying economics. As the Public Access and Education team at the RBA, led by Jacqui Dwyer, has documented—enrolments in high school economics courses in Australia have fallen by around 70% since the early 1990s.&lt;/p&gt;&lt;p&gt;Which brings us to today. From my perspective, the early 2020s feels a lot like the early 1990s. We are emerging from one of the biggest disruptions to our lives since the recession of 1991 and the economy is being reshaped by massive structural changes. Geopolitical tension and the experi","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"63 S1","pages":"1-2"},"PeriodicalIF":1.9,"publicationDate":"2024-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8454.12360","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141091643","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":"Evaluating Taiwan's economic and labour market recovery strategies against COVID-19","authors":"Wei-Wen Lai,&nbsp;Chia-Hsuan Wu,&nbsp;Meng-Chun Liu,&nbsp;Jiann-Chyuan Wang","doi":"10.1111/1467-8454.12362","DOIUrl":"10.1111/1467-8454.12362","url":null,"abstract":"<p>Since its emergence in 2020, COVID-19 has profoundly influenced the Taiwan economy and employment landscape, leading to differential impacts across sectors. In response to this unprecedented crisis, the Taiwanese government promptly enacted the “Special Regulations on the Prevention and Rescue of Severe Specific Infectious Pneumonia” on February 25, 2020, which came into force on March 13. This study examines the pandemic's effects through various stages, with a particular focus on the service industry, the sector most affected owing to diminished domestic demand. Using a computable general equilibrium model by integrating monthly changes, the study assess the effectiveness of the Taiwan government's interventions in mitigating job losses and stabilising the economy. Our findings indicate that without the government's relief and revitalisation measures, unemployment rates would have surged significantly. The study underscores the critical role of policy interventions in mitigating the economic impacts of the pandemic.</p>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"63 4","pages":"687-711"},"PeriodicalIF":1.2,"publicationDate":"2024-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140963718","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":"The signalling role of the government-market relationship in debt financing: Evidence from China","authors":"Yuan Yuan,&nbsp;Ye Meng","doi":"10.1111/1467-8454.12361","DOIUrl":"10.1111/1467-8454.12361","url":null,"abstract":"<p>A proper government-market relationship (GMR) serves as an important institutional environment for investors to make rational economic decisions. Theoretically, by embedding the GMR into the signalling model, this study finds that (a) the improvement in the GMR can enable high-return firms to obtain more debt financing and (b) the mechanism is that a higher GMR, as a signal, increases the accuracy of investors' inference on firms' returns. Using data of Chinese A-share listed firms (2009–2019) and the two-step system GMM, this study empirically demonstrates that the GMR does help investors infer firms' returns more accurately, thus enlarging the debt financing scales of high-return firms. Moreover, the positive impact of the GMR on high-return firms is significant within privately owned firms and more substantial in markets characterised by lower industry concentration.</p>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"63 4","pages":"667-686"},"PeriodicalIF":1.2,"publicationDate":"2024-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140989424","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":"Urban industrial land misallocation and green total factor productivity: Evidence from China's Yellow River Basin regions","authors":"Lei Nie,&nbsp;Zhenzhen Ren,&nbsp;Yanrui Wu,&nbsp;Qizhou Luo","doi":"10.1111/1467-8454.12359","DOIUrl":"10.1111/1467-8454.12359","url":null,"abstract":"<p>This study aims to investigate the repercussions of urban industrial land misallocation on green total factor productivity (GTFP) within the context of China's Yellow River Basin regions. Utilising data from 99 prefecture-level cities over the period from 2007 to 2020, the analysis reveals that the misallocation of urban industrial land exhibits regional variations and exerts a significant and persistent negative influence on GTFP, with notable regional disparities. Further analysis shows the mechanism of this effect is the obstacle to urban innovation due to industrial land misallocation. In addition, education expenditure plays a moderating role both directly and indirectly. These findings imply the need to continuously improve the performance evaluation and financial system of local governments, reduce government intervention, and make use of the market mechanism in the allocation of urban industrial land.</p>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"63 4","pages":"646-666"},"PeriodicalIF":1.2,"publicationDate":"2024-04-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8454.12359","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140660239","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":"5A accreditation of tourist attractions in China and international tourist arrivals: A system generalised method of moments approach","authors":"Honghong Wei,&nbsp;Mingming Cheng,&nbsp;Li Huang","doi":"10.1111/1467-8454.12349","DOIUrl":"10.1111/1467-8454.12349","url":null,"abstract":"<p>While international accreditations for tourist attractions have been extensively examined, the impact of nationally developed accreditations has been less systematically investigated. Employing the system generalised method of moments approach, this study investigates the relationship between 5A tourist attractions, based on China's accreditation system, and international tourist arrivals in China, using annual city-level panel data spanning from 2002 to 2017. The empirical results suggest that the 5A accreditation has a significantly positive effect on international tourists' arrivals. Furthermore, our findings indicate that the 5A accreditation has a substantial impact on the number of international tourists visiting lesser-known cities. Moreover, the study reveals that international tourists from different countries respond differently to cultural and natural sites. This research provides valuable insights into tourism development strategies for local governments and tourist attractions.</p>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"63 4","pages":"627-645"},"PeriodicalIF":1.2,"publicationDate":"2024-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140670366","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":"Tackling barriers to (beneficial) housing mobility","authors":"Andrew Barker,&nbsp;Aaron Korczak-Krzeczowski","doi":"10.1111/1467-8454.12355","DOIUrl":"10.1111/1467-8454.12355","url":null,"abstract":"<p>Housing mobility can provide welfare benefits to households who move to more suitable housing, while also enabling productivity gains through better matching of skills to jobs. Compared with other developed countries, Australians regularly move home, but rarely do so for work. Tenure security for private renters is low and in stark contrast to the United States, Australian renters are more likely to be forced to move by their landlord than choose to move for work. Reforms are recommended to level the playing field, by removing landlords' capacity to evict tenants without due cause and enabling greater entry of institutional investors into the housing market. Opportunities to reduce barriers to moving for owner–occupiers are identified: stamp duties could be replaced with less distortionary forms of taxation and exclusion of the family home in pension asset testing should be reviewed, as this exclusion discourages downsizing where doing so would reduce pension income.</p>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"63 3","pages":"530-546"},"PeriodicalIF":1.2,"publicationDate":"2024-04-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140630096","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":"Australian first home ownership assistance schemes: International comparison and assessment","authors":"Chris Martin,&nbsp;Hal Pawson","doi":"10.1111/1467-8454.12357","DOIUrl":"10.1111/1467-8454.12357","url":null,"abstract":"<p>Australia, like most developed countries, has promoted homeownership as an express housing policy goal for many decades. Domestically and internationally, recent years have seen growing efforts to enhance access to owner-occupation for prospective first home buyers (FHBs). FHB assistance takes many forms. Presenting a new typology of such measures, our multi-method study investigates current approaches in Australia and in seven high-income comparator countries. Australia stands out for its modern emphasis on demand-side assistance (e.g., grants and tax concessions), rather than supply-side measures (e.g., government-developed housing for low-cost sale). Lately, several Australian governments (federal and state) have diversified approaches to FHB assistance, particularly via shared equity and low-deposit mortgage schemes, taking cues from international practice. While more administratively demanding, these types of assistance are considered attractive because they require little outlay or operate on a ‘revolving fund’ basis, with government potentially sharing capital gains. However, they potentially place governments even more among housing's ‘insiders’, with a material interest in continually rising prices.</p>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"63 3","pages":"507-529"},"PeriodicalIF":1.2,"publicationDate":"2024-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8454.12357","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140614364","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":"Planning deregulation: What if land markets are monopolies?","authors":"Emily Sims,&nbsp;Jesse Hermans","doi":"10.1111/1467-8454.12341","DOIUrl":"10.1111/1467-8454.12341","url":null,"abstract":"<p>Upzoning and land-use reform are widely discussed as a way to improve housing supply and affordability. However, some literature contests this view and leads to apparent contradictions. We consider the theoretical frameworks and literature underpinning these divergent views in the hopes to establish mutual coherence, as well as questions for further research and the nascent but growing literature of empirical studies that could evaluate them.</p>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"63 3","pages":"493-506"},"PeriodicalIF":1.2,"publicationDate":"2024-03-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140224569","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":"State capacity, tax evasion, and wage inequality","authors":"Jiancai Pi,&nbsp;Xinyi Liu","doi":"10.1111/1467-8454.12342","DOIUrl":"10.1111/1467-8454.12342","url":null,"abstract":"<p>This paper explores how state capacity in the sense of controlling tax evasion affects wage inequality through constructing several general equilibrium models. We analyse six types of redistribution in urban areas, and find that effect variations in urban wage inequality arise depending on the specific recipients of redistribution. Notably, under redistribution to urban unskilled labour, changes in wage inequality will depend on the capital intensity of the urban skilled sector when state capacity increases.</p>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"63 4","pages":"594-626"},"PeriodicalIF":1.2,"publicationDate":"2024-03-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140107442","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}