Economic RecordPub Date : 2023-05-26DOI: 10.1111/1475-4932.12741
Sriram Shankar
{"title":"Financial Econometrics Models and Methods, by Oliver Linton (Cambridge University Press, Cambridge, 2019), pp. xxvii +555.","authors":"Sriram Shankar","doi":"10.1111/1475-4932.12741","DOIUrl":"https://doi.org/10.1111/1475-4932.12741","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2023-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50144911","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 : 2023-05-26DOI: 10.1111/1475-4932.12744
Terry Zhang
{"title":"How Novelty and Narratives Drive the Stock Market, by Nicholas Mangee (Cambridge University Press, Cambridge, 2021), 300 pages.","authors":"Terry Zhang","doi":"10.1111/1475-4932.12744","DOIUrl":"https://doi.org/10.1111/1475-4932.12744","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2023-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50144912","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 : 2023-05-26DOI: 10.1111/1475-4932.12739
Florence Neymotin
{"title":"When McKinsey Comes to Town: The Hidden Influence of the World's Most Powerful Consulting Firm, by Walt Bogdanich and Michael Forsythe (Doubleday Publishers, New York, NY, 2022), 368 Pages.","authors":"Florence Neymotin","doi":"10.1111/1475-4932.12739","DOIUrl":"https://doi.org/10.1111/1475-4932.12739","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2023-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50117461","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 : 2023-05-26DOI: 10.1111/1475-4932.12736
Lixin Cai
{"title":"The Steppingstone Effect of Casual Employment in Australia: A Re-Examination*","authors":"Lixin Cai","doi":"10.1111/1475-4932.12736","DOIUrl":"https://doi.org/10.1111/1475-4932.12736","url":null,"abstract":"<p>This study re-examines the steppingstone effect of casual employment using data covering a much longer period than that used in Buddelmeyer and Wooden (Industrial Relations, 50(1), 109–30, 2011). For males the steppingstone effect found in this study is similar to that in Buddelmeyer and Wooden (Industrial Relations, 50(1), 109–30, 2011). Whereas Buddelmeyer and Wooden (Industrial Relations, 50(1), 109–30, 2011) find no steppingstone effect of casual employment for females, this study shows the effects occur to them. The positive result for females appears to be driven by weakened labour market conditions. This suggests that for females the steppingstone effect of casual employment could be sensitive to broad economic conditions.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2023-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12736","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50144861","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 : 2023-05-26DOI: 10.1111/1475-4932.12743
Anna Sturman
{"title":"Value(s): Building a Better World for All, by Mark Carney (HarperCollins, London, 2021), 608 pages.","authors":"Anna Sturman","doi":"10.1111/1475-4932.12743","DOIUrl":"https://doi.org/10.1111/1475-4932.12743","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2023-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50144913","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 : 2023-05-08DOI: 10.1111/1475-4932.12735
Patrick J. Ferguson, Karim R. Lakhani
{"title":"Consuming Contests: The Effect of Outcome Uncertainty on Spectator Attendance in the Australian Football League*","authors":"Patrick J. Ferguson, Karim R. Lakhani","doi":"10.1111/1475-4932.12735","DOIUrl":"https://doi.org/10.1111/1475-4932.12735","url":null,"abstract":"<p>Contests that non-contestants consume for entertainment are a fixture of economic, cultural and political life. We exploit injury-induced changes to teams' line-ups in a professional sports setting to examine whether individuals prefer to consume contests that have more uncertain outcomes. Studying data from the Australian Football League, we use an instrumental variables design to show that a one standard deviation increase in game outcome uncertainty causes, on average, an 11.2 per cent increase in attendance. When presented alongside ordinary least square's estimates, our results suggest that previous studies may heavily underestimate spectators' preferences for evenly balanced contests.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2023-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12735","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50125233","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 : 2023-05-01DOI: 10.1111/1475-4932.12734
Richard Finlay, Dmitry Titkov, Michelle Xiang
{"title":"The Yield and Market Function Effects of the Reserve Bank of Australia's Bond Purchases*","authors":"Richard Finlay, Dmitry Titkov, Michelle Xiang","doi":"10.1111/1475-4932.12734","DOIUrl":"https://doi.org/10.1111/1475-4932.12734","url":null,"abstract":"<p>We examine the effect on government bond yields of three policy measures by the Reserve Bank of Australia implemented following the onset of the COVID-19 pandemic. We also assess their impact on bond market functioning. The measures were purchases to support government bond market function over early 2020, the yield target on 3-year Australian government bonds, and the bond purchase programme to lower longer-term yields from late 2020 through early 2022. For purchases to support market function, we find that the announcement lowered short-dated Australian Government Securities (AGS) yields but did not lower longer-dated AGS yields. We also find that purchases led to lower yields as and when they were implemented and that they supported market function by lowering bid–offer spreads. For the yield target, we find a substantial announcement effect and moderate implementation effects on yields. Conversely, the yield target appears to have detrimentally affected some aspects of the bond market function. For the bond purchase programme, we find an announcement effect of approximately 30 basis points for longer-term AGS yields; however, any implementation effects were small and temporary.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50116590","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 : 2023-03-17DOI: 10.1111/1475-4932.12733
{"title":"News and Notices","authors":"","doi":"10.1111/1475-4932.12733","DOIUrl":"https://doi.org/10.1111/1475-4932.12733","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2023-03-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50135985","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 : 2023-03-06DOI: 10.1111/1475-4932.12722
Tony Beatton, Michael P. Kidd, Anthony Niu, Francis Vella
{"title":"Age of Starting School, Academic Performance, and the Impact of Non-Compliance: An Experiment within an Experiment, Evidence from Australia*","authors":"Tony Beatton, Michael P. Kidd, Anthony Niu, Francis Vella","doi":"10.1111/1475-4932.12722","DOIUrl":"https://doi.org/10.1111/1475-4932.12722","url":null,"abstract":"<p>This paper estimates the difference in academic performance of the oldest (treated) and youngest (control) students in a given grade. We employ Queensland Department of Education school administration panel data for the population of 2008–2016 state school students. Academic performance is measured using standardised test scores (National Assessments Program in Numeracy and Literacy) and teacher-assessed measures of performance and effort for individuals in grades 3, 5 and 7. The empirical analysis employs a regression discontinuity design based on birth date relative to administrative rules on age of school enrolment. The class-assigning mechanism operates via a known cut-off date and results in the oldest child in the grade being almost a year older than the youngest. However, lack of enrolment compliance implies the regression discontinuity design is fuzzy rather than sharp, identifying the local average treatment effect rather than the average treatment effect. In particular, given the one-sided nature of non-compliance, we employ the partially fuzzy estimator of Battistin and Rettore (<i>Journal of Econometrics</i>, 142, 715–30, 2008). Exploiting a 2008 enrolment cut-off date reform, which delayed school starting age by 6 months, we find a large increase in enrolment compliance. This exogenous change in the enrolment age enables one to gauge the importance of enrolment non-compliance in estimating the treatment effect of being older versus younger in cohort. We find that pre-reform the treatment effect is small and generally statistically insignificant and post-reform it is sizeable and statistically significant.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2023-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12722","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50134589","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}