Publications

Bajada, C 2002, Australia's Cash Economy: A Troubling Issue for Policymakers, 1, Routledge, Aldershot, UK.
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BAJADA, C 2002, 'ESTIMATING THE USES OF CURRENCY IN AUSTRALIA', Economic Papers: A journal of applied economics and policy, vol. 21, no. 3, pp. 14-30.
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Bajada, C 2002, 'How reliable are the estimates of the underground economy?', Economics Bulletin, vol. 3, no. 1, pp. 1-11.
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Economists have proposed several different econometric techniques for measuring the underground economy but these estimates have varied widely and have cast doubts on their credibility and usefulness. This paper describes a dynamic bootstrap routine for constructing confidence intervals for these estimates. This approach avoids the need for subjective opinion on the relative merit of each technique and offers a way to assess the reliability of the various econometric methodologies that have been used.

Bajada, C 2002, 'How Reliable are the Estimates of the Underground Economy?', Economics Bulletin, vol. 3, no. 14, pp. 1-11.
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Economists have proposed several different econometric techniques for measuring the underground economy but these estimates have varied widely and have cast doubts on their credibility and usefulness. This paper describes a dynamic bootstrap routine for constructing confidence intervals for these estimates. This approach avoids the need for subjective opinion on the relative merit of each technique and offers a way to assess the reliability of the various econometric methodologies that have been used.

Bajada, C 2002, 'The Effects of Inflation and the Business Cycle on Revisions of Macroeconomic Data', Australian Economic Review, vol. 35, no. 3, pp. 276-286.
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Erev, I, Roth, AE, Slonim, RL & Barron, G 2002, 'Predictive value and the usefulness of game theoretic models', International Journal of Forecasting, vol. 18, no. 3, pp. 359-368.
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Moreno, D & Wooders, J 2002, 'Prices, delay, and the dynamics of trade', JOURNAL OF ECONOMIC THEORY, vol. 104, no. 2, pp. 304-339.
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We characterize the dynamics of trading patterns and market composition when trade is bilateral, finding a trading pat trier is costly, prices arc determined by bargaining, and preferences are private information. We show that equilibrium is inefficient and exhibits delay as sellers price discriminate between buyers with different values. As frictions vanish, transaction prices are asymptotically competitive and the welfare loss of inefficient trading approaches zero. even though the trading patterns continue to be inefficient and delay persists.

Roe, L, Lockyer, V, White, P & Bajada, C Australian National Audit Office 2002, ATO Progress in Addressing the Cash Economy, pp. 1-84, Australia.