Economic RecordPub Date : 2023-10-08DOI: 10.1111/1475-4932.12768
Willem Hendrik Buiter
{"title":"The Fiscal Theory of the Price Level, by John H. Cochrane (Princeton University Press, Princeton, 2023), 584 pp.","authors":"Willem Hendrik Buiter","doi":"10.1111/1475-4932.12768","DOIUrl":"10.1111/1475-4932.12768","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"99 327","pages":"568-572"},"PeriodicalIF":1.2,"publicationDate":"2023-10-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135197766","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 : 2023-10-06DOI: 10.1111/1475-4932.12772
N. Emrah Aydinonat
{"title":"How Economics Can Save the World: Simple Ideas to Solve Our Biggest Problems, by Erik Angner (Penguin Business, London, 2023), pp. 288","authors":"N. Emrah Aydinonat","doi":"10.1111/1475-4932.12772","DOIUrl":"10.1111/1475-4932.12772","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"99 327","pages":"566-568"},"PeriodicalIF":1.2,"publicationDate":"2023-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134944609","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 : 2023-08-22DOI: 10.1111/1475-4932.12753
Antonio Andrés Bellofatto, Begoña Domínguez, Elyse C. Dwyer
{"title":"Uncovering Urban Advantages: Evidence from Australian Firm-Level Data *","authors":"Antonio Andrés Bellofatto, Begoña Domínguez, Elyse C. Dwyer","doi":"10.1111/1475-4932.12753","DOIUrl":"10.1111/1475-4932.12753","url":null,"abstract":"<p>This paper quantifies the productivity advantages of urban firms in Australia. Following Combes <i>et al.</i> (<i>Econometrica</i> 2012, 80, 2543), we decompose the source of urban advantages into agglomeration and selection effects using the most exhaustive data source on Australian businesses: the Business Longitudinal Analysis Data Environment (BLADE). We find that urban advantages increase the productivity of the average firm by nearly 6 per cent, and that most of such advantages are attributed to agglomeration effects rather than selection. Urban advantages differ substantially across sectors and by firm age. In particular, they are larger in services than in manufacturing and relatively benefit mature firms. We also perform a state-level analysis, which largely confirms our main findings at the country level.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"99 S1","pages":"13-34"},"PeriodicalIF":1.1,"publicationDate":"2023-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12753","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89659139","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 : 2023-08-15DOI: 10.1111/1475-4932.12757
Klaus Ackermann, Sefa Awaworyi Churchill, Russell Smyth
{"title":"Broadband Internet and Cognitive Functioning*","authors":"Klaus Ackermann, Sefa Awaworyi Churchill, Russell Smyth","doi":"10.1111/1475-4932.12757","DOIUrl":"10.1111/1475-4932.12757","url":null,"abstract":"<p>We empirically examine the impact of high-speed internet access on cognitive functioning using data from the Household, Income and Labour Dynamics in Australia survey and crystallised and fluid intelligence measures. Leveraging differences in the National Broadband Network rollout across Australia, we find that high-speed internet access causes a decline in crystallised intelligence and that the effects are mediated by social capital and moderated by age and gender. Although no overall effect on fluid intelligence was observed, a decline was noted in young adults. These findings underline the nuanced influence of high-speed internet access on different aspects of cognitive function.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"99 327","pages":"536-563"},"PeriodicalIF":1.2,"publicationDate":"2023-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12757","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85593489","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 : 2023-08-01DOI: 10.1111/1475-4932.12755
Lisa Meehan, Gail Pacheco, Thomas Schober
{"title":"Basic Reading and Mathematics Skills and the Labour Market Outcomes of Young People: Evidence from PISA and Linked Administrative Data*","authors":"Lisa Meehan, Gail Pacheco, Thomas Schober","doi":"10.1111/1475-4932.12755","DOIUrl":"10.1111/1475-4932.12755","url":null,"abstract":"<p>This paper uses Programme for International Student Assessment (PISA) data linked to administrative data to track the educational and labour market outcomes of young people. Students with lower skills have lower rates of participation in further education. While low-skilled men out-earn their higher-skilled counterparts when they are very young, their earnings are overtaken by those with higher skills when they are in their early 20s, and they earn around 15 per cent less by the age of 25. The differences among women are substantially larger – women with low skills earn approximately 35 per cent less than their higher-skilled counterparts by age 25.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"99 327","pages":"473-491"},"PeriodicalIF":1.2,"publicationDate":"2023-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12755","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78168067","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 : 2023-07-27DOI: 10.1111/1475-4932.12756
Yonatan Navon, Ashton de Silva
{"title":"Measuring Local Economic Activity Using Pedestrian Count Data*","authors":"Yonatan Navon, Ashton de Silva","doi":"10.1111/1475-4932.12756","DOIUrl":"10.1111/1475-4932.12756","url":null,"abstract":"<p>Measures of timely local economic activity are elusive. In this study, we explore the extent to which the volume of pedestrians in a central business district may be associated with its economic activity. Both logically and theoretically there is a strong rationale to expect such a relationship. We find that this is supported empirically also. We also briefly consider the extent to which this observed association may be applied to other use cases.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"99 S1","pages":"35-49"},"PeriodicalIF":1.1,"publicationDate":"2023-07-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12756","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87082982","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 : 2023-07-26DOI: 10.1111/1475-4932.12754
Michael Warlters
{"title":"Stamp Duty Reform and Home Ownership*","authors":"Michael Warlters","doi":"10.1111/1475-4932.12754","DOIUrl":"10.1111/1475-4932.12754","url":null,"abstract":"<p>The NSW Government's 2020 proposal to replace stamp duty on all properties with an annual tax based on unimproved land values is estimated to increase home ownership by 6.6%, through changes in purchaser holding periods, a shift of tax burden from investors to owner-occupiers and a relaxed deposit constraint. The model of home ownership highlights the importance of purchasers' holding periods, with implications for the effects of tax reforms, institutional ownership of rental properties and population growth. The paper provides an easily calibrated model of home purchases that could be used to quantify home ownership effects of various tax reforms.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"99 327","pages":"492-511"},"PeriodicalIF":1.2,"publicationDate":"2023-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87422568","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 : 2023-06-29DOI: 10.1111/1475-4932.12752
Sarantis Tsiaplias, Qi Zeng, Guay C. Lim
{"title":"Retail Investor Trading Intentions: New Evidence from Australia*","authors":"Sarantis Tsiaplias, Qi Zeng, Guay C. Lim","doi":"10.1111/1475-4932.12752","DOIUrl":"10.1111/1475-4932.12752","url":null,"abstract":"<p>Using a quarterly survey of 23,000 Australian retail equity investors, we study the relationship between beliefs about risk and returns and stock market intentions regarding holding, buying and selling. We provide evidence that investor intentions regarding buying or selling are primarily characterised by risk and return expectations, but sensitivity to their beliefs about risk and returns is greater for the intention to sell than to buy. In contrast, demographic factors such as gender, income and age play a key role in the decision to hold rather than trade. The results have significant ramifications for stock market participation and trading intensity in Australia.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"99 327","pages":"512-535"},"PeriodicalIF":1.2,"publicationDate":"2023-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12752","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91036735","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}