{"title":"The effect of natural gas discoveries in Israel on the strength of its currency","authors":"Tchai Tavor","doi":"10.1111/1467-8454.12296","DOIUrl":"10.1111/1467-8454.12296","url":null,"abstract":"<p>In light of the natural gas discoveries in the Mediterranean Sea and their impact on the Israeli economy, I must assess the change in the exchange rate and its impact on the foreign exchange market. There are numerous positive social impacts resulting from the gas discoveries including optimising Israel's energy security and its move to cleaner energy. However, not all of the consequences of discovering natural resources may be positive. One possibly negative outcome could be the well-known phenomenon called the “Dutch disease” in which the discovery of a natural resource can cause a country's currency to spike. To investigate whether the strengthening of the Israeli currency in recent years is a symptom of the “Dutch disease” I used daily and intraday event study methodology to explore the changes in the real exchange rate of the Israeli shekel and the US dollar between 2008 and 2017, according to announcements related to the gas discoveries published during this period. In addition, I examined whether an increase in the real exchange rate was a result of the publication of announcements about natural gas harming the manufacturing and industrial sectors. I found that announcements related to gas discoveries did affect the real exchange rate and caused an appreciation of the Israeli shekel. Investors could analyse the announcements and achieve an abnormal return in the foreign exchange market. In addition, investors' expectations of an appreciation in the real exchange rate causes damage to various manufacturing and industrial sectors.</p>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"62 2","pages":"236-256"},"PeriodicalIF":1.9,"publicationDate":"2023-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8454.12296","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49628045","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":"Natural disasters and economic policy challenges","authors":"John Freebairn","doi":"10.1111/1467-8454.12291","DOIUrl":"10.1111/1467-8454.12291","url":null,"abstract":"<p>The frequency of and magnitudes of natural disasters associated with exogenous variation of climate vary between areas. Household, business and government decisions on location and investment influence the private and society costs of natural disasters. Government economic policy towards natural disasters face a challenging trade-off between short term equity and long term efficiency objectives. Additional financial grants and subsidies for those adversely affected by a natural disaster event for equity reasons also reduce longer term private sector incentives and rewards to locate to less natural disaster-prone areas and to invest in mitigation strategies.</p>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"63 1","pages":"5-15"},"PeriodicalIF":1.9,"publicationDate":"2023-02-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8454.12291","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46743568","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":"Catastrophe theory and economic modelling at the back of an envelope","authors":"Eduardo Pol","doi":"10.1111/1467-8454.12292","DOIUrl":"10.1111/1467-8454.12292","url":null,"abstract":"<p><i>Catastrophe theory</i> (CT) emerged out of problems in pure mathematics. The insights and language of differential topology, from which CT sprang, are foreign to most economists. The purpose of this paper is to explain how to use Abstract CT in economic modelling. To this end, we spell out a step-by-step procedure that can be understood without a knowledge of differential topology. The corollary advantage of our systematic procedure is that it brings into sharp focus the limited relevance of CT for economic modelling. The paper is developed in four stages. The first stage provides a gentle introduction to the key mathematical concepts for readers new to CT. The second stage consists of a brief description of the structure of economic modelling. In the third stage, a procedure about how to use CT in economic modelling is spelled out. The last stage summarises the main ideas of CT and points out the snags that a modeller will inevitably encounter when applying CT to economics.</p>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"63 1","pages":"16-35"},"PeriodicalIF":1.9,"publicationDate":"2023-02-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8454.12292","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43584366","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":"Interrogating inclusive growth: Implications for conceptualisation, measurement and policy practice","authors":"Lachlan Johnson, Richard Eccleston","doi":"10.1111/1467-8454.12294","DOIUrl":"10.1111/1467-8454.12294","url":null,"abstract":"<p>The idea that economic growth ought to be inclusive—that governments and economic policy makers should concern themselves with not just the “pace but also the pattern” of growth—has gained considerable traction in recent years. Actors ranging from local, state, regional and national governments to civic or non-government actors to multinational corporations have embraced the rhetoric of inclusive growth, with many also developing their own suite of corresponding policy, strategy, or measurement approaches. Despite—or perhaps even because of—its popularity and proliferation, there is very little agreement around what inclusive growth actually is, how and at what spatial scale it should be pursued, and how outcomes ought to be measured. In this paper, we provide a conceptual synopsis of how and where inclusive growth emerged, what its aims are, and how it is understood and measured by its many different practitioners. We conclude with an assessment of whether this potentially valuable concept can be refined and incorporated into a unified and useful framework to inform policy and decision making.</p>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"62 2","pages":"362-376"},"PeriodicalIF":1.9,"publicationDate":"2023-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8454.12294","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48729706","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":"How does environmental quality perception influence people's fertility intention? Evidence from China","authors":"Jiaping Zhang, Xiaomei Gong","doi":"10.1111/1467-8454.12290","DOIUrl":"10.1111/1467-8454.12290","url":null,"abstract":"<p>The ongoing population aging and few children are major challenges for human sustainable development in the 21st century. While the external environment is a crucial factor determining people's behaviour, the potential effects of subjective environmental quality on an individual's fertility decision-making remain poorly understood. Using data from the Chinese General Social Survey, this research has examined the relationship between environmental quality perception and fertility intention in China. Results reveal that an increase in environmental quality perception can significantly promote people's fertility intention. Our study proposes and verifies two pathways through which environmental quality perception affects fertility intention, namely, well-being and future expectation. This facilitating effect is greater for people with poor socio-economic conditions. The findings indicate that policymakers should coordinate environmental protection and population policies to promote sustainable development and design various tools targeted based on people's socio-economic background.</p>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"62 2","pages":"272-296"},"PeriodicalIF":1.9,"publicationDate":"2022-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42448440","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}
Antony Andrews, Biresh K. Sahoo, Omphile Temoso, Sean Kimpton
{"title":"Quality-efficiency trade-off when the state is the sole provider of hospital services: Evidence from New Zealand","authors":"Antony Andrews, Biresh K. Sahoo, Omphile Temoso, Sean Kimpton","doi":"10.1111/1467-8454.12288","DOIUrl":"10.1111/1467-8454.12288","url":null,"abstract":"<p>The purpose of this study is to explore the trade-off between technical efficiency and the quality of hospital services when the state is the sole provider. Data from 20 New Zealand District Health Boards from 2011 to 2017 is used to estimate technical efficiency using the data envelopment analysis technique, which employs an additive inverse formulation for undesirable outcomes. The estimated average quality-adjusted technical efficiency score is 0.69. In comparison, when the quality variable was removed, the efficiency declined to 0.66. More importantly, the ranking of district health boards stays consistent across both models, indicating that there is very little trade-off between quality and efficiency. A sensitivity analysis also confirms the lack of a trade-off between quality and efficiency.</p>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"62 2","pages":"335-348"},"PeriodicalIF":1.9,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47186427","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":"Can price discrimination improve the performance of online retail platforms?","authors":"Min Liu, Sajid Anwar","doi":"10.1111/1467-8454.12289","DOIUrl":"10.1111/1467-8454.12289","url":null,"abstract":"<p>Online retail platforms are the core of online retail activities, but due to increased competition among the platforms, traditional sources of revenue such as the membership and transaction fees alone cannot guarantee platform profitability. Thus, platform enterprises are looking for other sources of revenue. In this article, we focus on the role of value-added services fees charged by platforms. Specifically, we show that price discrimination exercised by platform enterprises in value-added services fees can increase the user access scale, platform profit as well as the social welfare.</p>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"62 2","pages":"257-271"},"PeriodicalIF":1.9,"publicationDate":"2022-11-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8454.12289","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48104842","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":"Marital status and hospital use in older adults","authors":"Chunzhou Mu, Jane Hall","doi":"10.1111/1467-8454.12287","DOIUrl":"10.1111/1467-8454.12287","url":null,"abstract":"<p>The proportion of single person households is increasing with population ageing. At older ages living in a single person household is more likely to be due to bereavement or separation than at younger ages. We examine the association between marital status and the likelihood and the length of hospitalisations, with particular emphasis on whether and how this association varies by different types of hospitalisations with a distinct nature of care. Using a large survey linked to multiple years of detailed administrative records enables us to better control for individual heterogeneity and allows us to conduct a finer classification of hospitalisations. A two-part model is used for estimation. We also investigate the relationship between marital status and the presentations to emergency department. The results show singles have an increased probability of hospitalisation and length of stay, with a substantial heterogeneity revealed in the association between marital status and different types of hospitalisations. The findings are consistent with the lesser availability of informal care for those being single and point to the need to develop appropriate and targeted strategies to reduce hospitalisation in this group.</p>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"62 2","pages":"185-213"},"PeriodicalIF":1.9,"publicationDate":"2022-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42722150","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":"Fiscal deficits and the socioeconomic consequences of rebalancing: Insights from a TVP-VAR with stochastic volatility","authors":"Binh Thai Pham, Hector Sala","doi":"10.1111/1467-8454.12286","DOIUrl":"10.1111/1467-8454.12286","url":null,"abstract":"<p>This article connects two salient economic features: (i) Fiscal shocks have asymmetric effects across business cycle phases (Gechert, Horn, & Paetz, 2019); (ii) the unemployment-output trade-off is time varying and may be unstable. The intertwined dynamic behaviour of fiscal deficit shocks and the unemployment-output trade-off is studied in this article using a time-varying parameter (TVP) vector autoregression (VAR) with stochastic volatility techniques applied to the analysis of data from Canada, France, Germany, Japan, Spain, Sweden, United Kingdom and the United States of America. We confirm the trade-off heterogeneity across country, and its time-varying nature across time, showing in addition its fluctuation around a long-run reference value. We document significant short-run impacts of fiscal shocks on the unemployment-output trade-off which, based on the experience of the Global Financial Crisis, becomes larger in periods of economic turmoil. Policy-wise, the rebalancing of public finances may have unexpected adverse effects on job creation if implemented during slumps, precisely when the labour market sensitivity with respect to the performance of the product market is likely to be more acute. This message is particularly relevant in the aftermath of the Covid-19 pandemic.</p>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"62 2","pages":"214-235"},"PeriodicalIF":1.9,"publicationDate":"2022-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49459671","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":"Financial constraints, short selling and corporate fraud: Evidence from China","authors":"GuoHua Cao, WenJun Geng, Jing Zhang, Qi Li","doi":"10.1111/1467-8454.12284","DOIUrl":"10.1111/1467-8454.12284","url":null,"abstract":"<p>This study investigates the relationship between financial constraints and corporate fraud commission and its detection and the moderating role of short selling using a partial observable bivariate probit model. First, financially constrained corporations are more likely to commit fraud and their fraudulent behaviours are less likely to be detected. Second, short selling has an interesting effect on corporate fraud. On the one hand, short selling has a direct restraining effect on corporate fraud commission and increases the likelihood of corporate fraud detection. On the other hand, short selling plays a moderating role in the relationship between financial constraints and corporate fraud. This study contributes to the corporate fraud literature by analysing the factors influencing corporate fraud and provides theoretical support for regulators and managers in monitoring fraudulent behaviour.</p>","PeriodicalId":46169,"journal":{"name":"Australian Economic Papers","volume":"62 2","pages":"297-320"},"PeriodicalIF":1.9,"publicationDate":"2022-11-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47899853","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}