Baddeley, MC 2003, Investment, Macmillan Education UK.
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Bajada, C 2003, The tax mix and the underground economy, The Taxpayers Research Foundation, Sydney.
Amir, R, Evstigneev, I & Wooders, J 2003, 'Noncooperative versus cooperative R&D with endogenous spillover rates', GAMES AND ECONOMIC BEHAVIOR, vol. 42, no. 2, pp. 183-207.
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This paper deals with a general version of a two-stage model of R&D and product market competition. We provide a thorough generalization of previous results on the comparative performance of noncooperative and cooperative R&D, dispensing in particular with ex-post firm symmetry and linear demand assumptions. We also characterize the structure of profit-maximizing R&D cartels where firms competing in a product market jointly decide R&D expenditure, as well as internal spillover, levels. We establish the firms would essentially always prefer extremal spillovers, and within the context of a standard specification, derive conditions for the optimality of minimal spillover.
Bajada, C 2003, 'Business Cycle Properties of the Legitimate and Underground Economy in Australia', Economic Record, vol. 79, no. 247, pp. 397-411.
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The business cycle characteristics of the legitimate economy have been examined quite extensively. In this paper we extend the standard business cycle analysis to the underground economy and compare it to the legitimate economy. Using National Bureau of Economic Research dating methodologies we find that classical cycles exhibit strong incidence of asymmetry while growth cycles appear relatively symmetric. We find that changes in legitimate activity lead to changes in underground activity but that the underground economy responds more to negative shocks in legitimate activity than to positive shocks. This implies that the underground economy is deepening economic downturns and increasing the volatility of the business cycle in general.
Di Guilmi, C, Gaffeo, E & Gallegati, M 2003, 'Power Law Scaling in World Income Distribution', Economics Bulletin, vol. 15, no. 6, pp. 1-7.
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We show that over the period 1960-1997, the range comprised between the 30th and the 85th percentiles of the world income distribution expressed in terms of GDP per capita invariably scales down as a Pareto distribution. Furthermore, the time path of the power law exponent displays a negatively sloped trend. Our findings suggest that the cross-country average growth process appears to be scale invariant but for countries in the tails of the world income distribution, and that the relative volatility of smaller countries' growth processes have increased over time.
Garbarino, E & Slonim, R 2003, 'Interrelationships and distinct effects of internal reference prices on perceived expensiveness and demand', Psychology & Marketing, vol. 20, no. 3, pp. 227-248.
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AbstractAlthough the role of reference prices is widely accepted, what reference price people use in what evaluation has received little attention. This article proposes that the compatibility of framing determines what reference price is used in different evaluations. Specifically, it is found that the market‐framed fair reference price determines the market‐framed perception of expensiveness and that the personally framed reservation price determines the personally framed demand. © 2003 Wiley Periodicals, Inc.
Goldbaum, D 2003, 'Profitable technical trading rules as a source of price instability', QUANTITATIVE FINANCE, vol. 3, no. 3, pp. 220-229.
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This model incorporates technical trading rules (TTRs) that extract information from the price, allowing the users to benefit from the information. Sustainable profits are possible as long as the price movements reflect changes in the security's intrinsic value. The choice to use the TTR rather than fundamental information is endogenous to the model. Increases in the popularity of the TTR can produce price bubbles and diminish the TTR's ability to extract a reliable signal. Large fluctuations in the TTR's popularity lead to unsustainable periods of positive profits coupled with long-term losses.
Siminski, P 2003, 'Patterns of disability and norms of participation through the life course: empirical support for a social model of disability', Disability & Society, vol. 18, no. 6, pp. 707-718.
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Siminski, P, Saunders, P & Bradbury, B 2003, 'Reviewing the Intertemporal Consistency of ABS Household Income Data through Comparisons with External Aggregates', Australian Economic Review, vol. 36, no. 3, pp. 333-349.
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Bajada, C 2003, The Cash Economy and Tax Reform.
Mann, N, Walsh, R, Bajada, C, Braithwaite, V, Dowling, P, Gabogrecan, B, Harnisch, W, Letheren, R, Moore, S, Raper, M, Stendell, D, Richardson, P, Ward, W, Goddard, T & Histon, A Australian Taxation Office 2003, The Cash Economy under the New Tax System, pp. 1-66, Australia.
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This is the third report of the Cash Economy Task Force. Since the last report in 1998, the Tax Office has modified its approaches to compliance in the cash economy in line with the recommendations in the earlier reports. These have focused on strategic partnerships with industry, and communication and education. The tax system has also undergone enormous change, centred on the introduction of the new tax system in July 2000.
