Research Publications and Outputs: Recent submissions
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Relative Prices, Wage Indexation and Unemployment
Published 1987-12-01When a firm and its workers try to agree now on contingent wages and employment at some future date, potential movements in several different prices enter into consideration. The firm's revenue depends on the selling price ...Open AccessWorking Paper -
A Note on the Testability of Fama's Efficient Capital Market Hypothesis
Published 1986-02-01Fama's (1970, 1976) theory of efficient capital markets relies on empirical tests of propositions. It is shown that the conclusion of semi-strong-form capital market efficiency, reached from empirical studies, is still ...Open AccessWorking Paper -
Rational Choice, Learning-By-Doing and the Personal Distribution of Income
Published 1981-04-01This paper examines the role of individual choice in the theory of distribution. It is demonstrated that an empirically tractable model of earnings can be derived from learning theory in the absence of the rational choice ...Open AccessWorking Paper -
POLLUTION CONTROL VERSUS ABATEMENT: IMPLICATIONS FOR TAXATION UNDER ASYMMETRIC INFORMATION
Published 1991-10-01This paper examines optimal taxation policies for controlling pollution under asymmetric information. Two important aspects of the social costs of pollution control are included: firstly, if a firm is not competitive, the ...Open AccessWorking Paper -
Exchange Rate Convergence and Market Efficiency
Published 1991-12-01The objective of this paper is to examine the market efficiency hypothesis for five major exchange rats of the Australian dollar using multivariate cointegration techniques. The conclusion is that cointegrated relations ...Open AccessWorking Paper