Economic RecordPub Date : 2024-05-31DOI: 10.1111/1475-4932.12813
Andrew Carter, Robert Breunig
{"title":"Tax Bunching of Very High Earners: Evidence from Australia's Division 293 Retirement Contributions Tax*","authors":"Andrew Carter, Robert Breunig","doi":"10.1111/1475-4932.12813","DOIUrl":"10.1111/1475-4932.12813","url":null,"abstract":"<p>We examine the bunching behaviour of individuals in Australia in response to an extra 15 per cent tax on compulsory retirement contributions imposed on those earning more than $ A250,000. We find almost no bunching by wage and salary earners. There is extensive bunching by those with business or trust income. For this group, we estimate an elasticity of taxable income of 0.027. Females and older workers are more likely to bunch. The results suggest that the tax induces a tax planning response but little labour supply response.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"100 330","pages":"343-372"},"PeriodicalIF":1.1,"publicationDate":"2024-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12813","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141195772","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}
Economic RecordPub Date : 2024-05-29DOI: 10.1111/1475-4932.12812
Joseph Drew, Masato Miyazaki, Dana McQuestin
{"title":"Does Inequality Still Matter? Income Heterogeneity and Local Government Expenditure","authors":"Joseph Drew, Masato Miyazaki, Dana McQuestin","doi":"10.1111/1475-4932.12812","DOIUrl":"10.1111/1475-4932.12812","url":null,"abstract":"<p>The concern that income inequality might have a deleterious impact on government goes back well over 2300 years. In recent times, the focus has settled on the threat posed by an association between inequality and government expenditure. In this work we investigate inequality and expenditure from the perspective of a jurisdiction wherein taxes have little association with incomes, taxation limitations apply and few goods are redistributive in nature. This context prompts us to adapt and propose an alternate explanation by which to investigate matters. Our work concludes with a reflection on the importance of testing old ideas in new contexts.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"100 330","pages":"373-385"},"PeriodicalIF":1.1,"publicationDate":"2024-05-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12812","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141195736","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}
Economic RecordPub Date : 2024-05-25DOI: 10.1111/1475-4932.12814
Wannaphong Durongkaveroj
{"title":"The Future of the Factory: How Megatrends are Changing Industrialization, by JosteinHauge (Oxford University Press, Oxford, 2023), pp. 240","authors":"Wannaphong Durongkaveroj","doi":"10.1111/1475-4932.12814","DOIUrl":"https://doi.org/10.1111/1475-4932.12814","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"95 1","pages":""},"PeriodicalIF":1.2,"publicationDate":"2024-05-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141153268","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}
Economic RecordPub Date : 2024-05-21DOI: 10.1111/1475-4932.12800
Peter B. Dixon, Maureen T. Rimmer
{"title":"A DSGE Consumption Function in a CGE Model: Parameter Estimation by CGE Simulation*","authors":"Peter B. Dixon, Maureen T. Rimmer","doi":"10.1111/1475-4932.12800","DOIUrl":"10.1111/1475-4932.12800","url":null,"abstract":"<p>DSGE models incorporate attractive theoretical specifications of the behaviour of forward-looking consumers facing an uncertain future. Central to these specifications is the idea that consuming agents decide their consumption level in year <i>t</i> by applying a function (policy rule) whose arguments represent information available in year <i>t</i>. Using the insight that, under certain conditions, the policy rule (but not the resulting policy) is invariant through time, DSGE modellers have developed the perturbation and other methods for quantitatively specifying policy rules. They have applied these methods in models with limited sectoral disaggregation. In this paper we adapt the perturbation method so that it can be used to specify a policy rule for consumption in a full-scale CGE model. A novel feature of our method is the use of specially constructed CGE simulations to reveal key parameters used in deriving the policy rule. We apply our method in illustrative simulations of the effects of a technology shock in a 70-sector version of the USAGE model of the US economy.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"100 330","pages":"317-342"},"PeriodicalIF":1.1,"publicationDate":"2024-05-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12800","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141117088","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}
Economic RecordPub Date : 2024-05-07DOI: 10.1111/1475-4932.12809
Sefa Awaworyi Churchill, Russell Smyth
{"title":"Locus of Control, Social Capital and Transport Poverty†*","authors":"Sefa Awaworyi Churchill, Russell Smyth","doi":"10.1111/1475-4932.12809","DOIUrl":"10.1111/1475-4932.12809","url":null,"abstract":"<p>Transport poverty is a major public policy issue in many countries. However, evidence on the factors that influence transport poverty is relatively scant. We contribute to the debate on the factors that influence transport poverty by being the first to examine how locus of control (LoC) influences transport poverty. Using 15 waves of panel data from the Household, Income and Labour Dynamics in Australia Survey, we find evidence to suggest that LoC influences transport poverty. Specifically, we find that being more internal on LoC is associated with a lower probability of being transport poor. This finding is robust to a suite of sensitivity and robustness checks, including different constructs of transport poverty, alternative measures of LoC, the use of an out-of-sample supplementary dataset and different estimation approaches. We find that social capital is an important factor that mediates the relationship between LoC and transport poverty.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"100 330","pages":"283-316"},"PeriodicalIF":1.1,"publicationDate":"2024-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12809","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140928730","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}
Economic RecordPub Date : 2024-05-07DOI: 10.1111/1475-4932.12810
Simon Ville
{"title":"The Shortest History of Economics by Andrew Leigh (Black Inc., Collingwood, Vic., 2024), pp. vi+228","authors":"Simon Ville","doi":"10.1111/1475-4932.12810","DOIUrl":"10.1111/1475-4932.12810","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"100 330","pages":"424-426"},"PeriodicalIF":1.1,"publicationDate":"2024-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140928679","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}
Economic RecordPub Date : 2024-05-02DOI: 10.1111/1475-4932.12808
Steven G. M. Schilizzi
{"title":"Climate Future: Averting and Adapting to Climate Change, by Robert S. Pindyck (Oxford University Press, 2022), 230 pages + xvi front matter, doi: https://doi.org/10.1093/oso/9780197647349.001.0001. ISBN (hardback): 9780197647349, ISBN (epub): 9780197647363.","authors":"Steven G. M. Schilizzi","doi":"10.1111/1475-4932.12808","DOIUrl":"10.1111/1475-4932.12808","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"100 330","pages":"423-424"},"PeriodicalIF":1.1,"publicationDate":"2024-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140835762","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}
Economic RecordPub Date : 2024-04-15DOI: 10.1111/1475-4932.12807
Anthony Scott
{"title":"Why Not Better and Cheaper? Healthcare and Innovation, by James B. Rebitzer and Robert S. Rebitzer (New York: Oxford University Press, 2023), pp. 183.","authors":"Anthony Scott","doi":"10.1111/1475-4932.12807","DOIUrl":"10.1111/1475-4932.12807","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"100 330","pages":"421-422"},"PeriodicalIF":1.1,"publicationDate":"2024-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140592011","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}
Economic RecordPub Date : 2024-04-14DOI: 10.1111/1475-4932.12802
Cameron Gordon
{"title":"Structuralist and Behavioural Macroeconomics, by Peter Skott (Cambridge University Press, Cambridge, 2023), pp. xii+384","authors":"Cameron Gordon","doi":"10.1111/1475-4932.12802","DOIUrl":"10.1111/1475-4932.12802","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"100 329","pages":"278-279"},"PeriodicalIF":1.2,"publicationDate":"2024-04-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140592097","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}
Economic RecordPub Date : 2024-04-14DOI: 10.1111/1475-4932.12806
Ben Phillips
{"title":"Tax and Transfer Policy Using Behavioural Microsimulation Modelling: Design and Evaluation, by John Creedy and Penny Mok (Edward Elgar Publishing, Cheltenham, 2022), pp. 236.","authors":"Ben Phillips","doi":"10.1111/1475-4932.12806","DOIUrl":"10.1111/1475-4932.12806","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"100 329","pages":"276-278"},"PeriodicalIF":1.2,"publicationDate":"2024-04-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140592093","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}