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This article uses individual‐level data collected in the Household, Income and Labour Dynamics in Australia (HILDA) survey in 2016 to econometrically explore the direction of causation between financial literacy and self‐employment. The empirical approach is based on applying instrumental variables (IV) analysis in a three‐outcome labour supply model (i.e. self‐employment, employee employment and non‐employment) that controls for selection into employment. In keeping with a small number of studies, the analysis suggests that there is a positive relationship between financial literacy and self‐employment. The analysis also suggests that the likely causal direction is from financial literacy to self‐employment. However, this is also found for employee employment. Therefore, policies aimed at increasing financial literacy will likely not only increase self‐employment but also employee employment. This suggests that financial literacy may be a form of "general human capital," such as education, work experience or training. However, the impact of financial literacy on self‐employment is not larger (more positive) for self‐employment compared to employee employment. Clearly much more research is needed to understand the numerous relationships between financial literacy and other labour market outcomes. [ABSTRACT FROM AUTHOR]

Skilled migration is an important strategy in developed economies seeking to address skills shortages and population ageing. Research on the labour market outcomes of skilled migrants tends to focus on employers' devaluation of skills without considering the role of immigration policy in the migration process. Moreover, there is little understanding of whether efforts to meet employer demands for local qualifications improve labour market outcomes. Drawing on a study on skilled migrants sponsored under the State‐Specific and Regional Migration Scheme in the regional state of South Australia, we explore the shaping of skills and skills recognition in the migration journey, particularly migrants' strategy of reskilling in response to employer demands for local qualifications. Our logistic regressions on the association between the acquisition of Australian qualifications and labour market outcomes reveal only marginal returns to these efforts. We argue that Australia should consider developing a more coherent skilled migration process to better harness the human capital of skilled migrants. [ABSTRACT FROM AUTHOR]

The view that welcoming refugees represents a cost to a country's welfare services has become anachronistic; nowadays refugees are increasingly recognised for their high levels of education and skills, and their ability to make an economic contribution to a host country. Yet, most states' approach to migration management prevents displaced people from migrating based on the human capital that they can supply. Australia is trialling a new approach that enables refugees to access skilled migration through employer sponsorship. This article describes the pilot project and suggests ways to encourage employers to view refugees as a valuable solution to workforce shortages. [ABSTRACT FROM AUTHOR]

This paper explores the sociology of gender pay equality in leadership positions. Using a large compensation dataset, we examine the impact of gender pay inequality among directors and executives on firm performance. Based on a triangulation research design, quantitative outcomes are supplemented with semi‐structured interviews to study compensation expectations, negotiation skills and gender differences in teamwork on boards of directors. The findings show that remuneration transparency is becoming the norm. However, compensation inequalities still exist and undermine performance. The results indicate that diversity targets or specific policies regarding equality and equity of opportunity are insufficient if they are not supported by a cultural understanding and the application of equitable policies and procedures throughout the organisation. [ABSTRACT FROM AUTHOR]

This article examines the migration flows of university‐qualified labour (UQL) between cities and hinterland regions in the sparsely populated north of both Australia and Sweden. These peripheries have become increasingly urbanised in recent decades and have received substantial investment in urban higher education hubs that are expected to generate skills for their regions. Whether these skills remain within the few urban centres or are redistributed internally to benefit rural and remote locations is not known. The article identifies the extent to which there have been urban–rural 'spillover' or 'sponge' effects in UQL migration flows within the north and establishes whether there has been a 'disconnect' in the regional exchange of UQL. Drawing on recent Australian census and Swedish register data, the results suggest that 'spillover' and 'sponging' of UQL have been limited, particularly in Northern Australia where cities appeared quite disconnected from their hinterlands. Spillover was more common in Northern Sweden, but cities with universities targeting regional skill needs did not necessarily generate more net‐migration gains for their hinterland. The discussion illustrates why urban–rural human capital relationships in northern peripheries may be more diverse and complex than assumed and flags what policy lessons can be drawn from comparing different northern peripheries. [ABSTRACT FROM AUTHOR]

We study changes in the spatial distribution and segregation of socio‐economic groups in Australia using a new data set with harmonised census data for 1991 and 2011. We find a general increase in residential segregation by education and occupation groups across the major capital cities in Australia. Importantly, these trends cannot be explained in general by changes in the demographic structure of groups and areas but rather by the rise in the over and underrepresentation of groups across areas. In particular, our analysis reveals clear diverging trends in the spatial configuration of high and low socio‐economic groups as measured by their occupation and education. Whereas high‐skilled groups became more concentrated in the inner parts of cities, the low‐educated and those working in low‐status occupations became increasingly overrepresented in outer areas. This pattern is observed in all five major capital cities, but it is especially marked in Sydney, Melbourne and Brisbane. [ABSTRACT FROM AUTHOR]

We examine the labour market and human capital investment behaviour of immigrant couples in Australia. The family investment hypothesis (FIH) states that immigrant husbands, whom the FIH assumes to be the primary earners in the family, will invest more in their human capital than immigrant wives, whom the FIH assumes to be secondary earners. Using longitudinal data from Household, Income and Labour Dynamics in Australia (HILDA) for the period 2001 to 2014, we do not find support for the FIH. Instead, we find that foreign‐born husbands and wives share similar labour market assimilation patterns with respect to hours of work and wages. Our estimates suggest that immigrant wives' labour market behaviour can be better explained by their own long‐term career progression and labour market assimilation, than through supporting their husbands' labour market assimilation. [ABSTRACT FROM AUTHOR]

This study examines the roles of task characteristics, organisational social support, and individual proactivity on innovative work behaviour (IWB) in the public sector. Analysing empirical data from 154 employees from a government agency in Australia, we found that task characteristics, organisational social support, and proactive personality have a positive impact on IWB. Proactive personality is also found to be a moderator in the relationship between task characteristics and IWB. The findings suggest the need to design human resource practices that better identify proactive and innovative job applicants in the recruitment and selection process. Further, we highlight the requirement to organise and design work that recognises the need to develop social support to improve IWB. The implications of the study for further research on IWB are discussed. [ABSTRACT FROM AUTHOR]

Using micro‐data from the Household, Income and Labour Dynamics in Australia Survey, and the Oaxaca–Blinder decomposition technique, this paper examines the determinants of the gender gap in financial literacy. The analysis suggests that human capital variables, such as age and education, are not important in explaining the gender gap in financial literacy. Labour market variables, such as sector, occupation, industry, union membership and labour market status, are important and explain around 16 per cent of the gap. This finding is dependent on the assumption that these variables are exogenous. There is a large unexplained gap, suggesting that the main determinants are neither human capital nor labour market factors. [ABSTRACT FROM AUTHOR]

Artists have long been understood to play a vital role in local communities. Our intent is to develop a deeper understanding of the distribution of artistic human capital; specifically, the extent to which particular patterns of co‐location exist across Australia. We find little evidence of patterns by type of artistic human capital. Interestingly, however, our analysis does reveal a form of grouping that enables us to prescribe a typology based on the degree to which the number of types of artistic human capital resides. Using this typology we explore differences among states and regions across Australia. [ABSTRACT FROM AUTHOR]

Regional and remote tourism in Australia is characterised by micro‐, small‐ and medium‐sized businesses, spatially dispersed and fragmented. Characteristics which present unique challenges for these communities attempting to develop tourism as a way of diversifying their economy. This study explored the views and experiences from residents and businesses in six remote local government areas in South Western Queensland to identify the barriers and enablers for remote communities to using tourism as a driver of economic and social‐cultural growth. We found a lack of understanding of the structure and behaviour of the tourism industry; a lack of business acumen; a lack of financial and human resources; and a reluctance to collaborate by tourism businesses to be barriers to tourism‐led economic growth. Enablers to tourism led growth included: local government support for tourism development; a sound understanding of the mechanics and structure of the tourism industry; and the capacity to engage in marketing that captured and narrated the visitor experience in digital channels. [ABSTRACT FROM AUTHOR]

Abstract: This study investigates the dynamic relationship between intellectual capital (IC) and firm performance (FP) through system generalised methods of moments, when previous studies produced divergent results based on static OLS or fixed‐effects estimations. Based on 571 listed firms in Australia for the period of 2005–2014 (5518 firm‐years) this study reveals that IC efficiency is positively significant with ROA and ROE – which endorses resource‐based theory. Further analysis shows that human capital, structural capital and physical capital are also significant and confidently endorse resource‐dependency and organisation‐learning theories. The findings of this study are vital for stakeholders such as management, shareholders and potential investors to understand the role of IC for FP. Moreover, the findings are particularly important for policy‐setters to highlight the importance of IC and develop a systematic framework for IC disclosure. This study also opens new avenues for future research to consider the dynamic nature of the IC–FP relationship and account for endogeneity. [ABSTRACT FROM AUTHOR]

Understanding how innovation drives regional development has important economic and social outcomes. Models such as Smart Specialisation and the quadruple helix are increasingly adopted given their sensitivity to place-based contexts. But although innovation processes are dynamic and facilitated by individuals' interactions, our understanding of how these connections are developed and sustained during helix collaboration development remains under-investigated. This research adopts an action research approach, focused on a regional Australian case study, to test a multi-disciplinary conceptual framework exploring key human-centred, micro-processes driving quadruple helix development: trust building; power relationships; regional readiness; and time and sphere centrality. The findings demonstrate the interactive nature of these processes, with trust-building facilitating the deployment of power bases by critical innovation agents which then foments regional readiness for change, subsequently driving the helix spheres towards overlap. These processes were also driven by changing sphere centrality and unique regional temporal structures. Practically, these outcomes offer insights into the human capital dynamics of regional helix collaborations, particularly for identifying the key individuals required to drive their development. [ABSTRACT FROM AUTHOR]

The objective of this article is to find out why immigrants intend to stay in or leave their initial destination. The insight into such factors could help develop policy measures to deal with potential out-migration, especially from the regions that view international migration as a solution to their demographic and economic difficulties. The study uses multinomial logistic regression to estimate the strength of association between migrants' intention to move and immigration category, human capital, economic and social factors. The data come from the Longitudinal Survey of Immigrants to Australia. The findings show that different groups of migrants have different propensities to move or stay in their initial destination. Employer-sponsored migrants are even less likely to intend to relocate than family class. Highly educated and skilled migrants tend to be more likely to express the intention to move or have doubts. Satisfactory employment has a positive impact on retention. [ABSTRACT FROM AUTHOR]

Skilled migration programs are now widespread among western settler societies, but little is known about the recent outcomes of skilled migrants. Using a feminist framework and qualitative interviews of 22 migrants, this article sheds light on the job-seeking experiences of professional skilled migrants in Australia, who are from non-English speaking backgrounds. The article reveals that many are unable to find commensurate employment post-arrival. They experience downward occupational mobility; that is they find jobs that are lower in skill level compared to the job held pre-migration. The range of job-seeking strategies is examined to determine whether migrants can improve occupational outcomes, revealing differences between the mobility of women and men. Job-seeking for women is more complex due to the gendering effects of family responsibility, making their job search more difficult. The research further highlights the underutilisation of human capital, which is in need of addressing for skilled migrants, and the wider economy. [ABSTRACT FROM AUTHOR]

Nations across the world and through time have used skilled migration mechanisms to boost economic growth and workforce competitiveness. However, effectively using these talents from abroad and transforming this collective human capital into valuable social capital is an on-going challenge. This study applies a case study analysis of skilled migrants from China and India in South Australia and finds that there are multiple barriers to the successful integration of skilled migrants. These barriers tend to block the effective utilization of migrants' skills and reduce the ability to advance social capital in the community. The study concludes by putting forward various policy recommendations to overcome these obstacles and outlines ideas for an effective application of a skilled migrant programme. [ABSTRACT FROM AUTHOR]

Despite a significant literature comparing Europe and the USA, and linking education and human capital to growth and development, there is virtually no research in the Australian context which attempts to investigate this link empirically. Australia is an interesting case because it was one of the world's wealthiest nations in the late nineteenth century. The economy was built on agriculture and mining, but there was no obvious evidence of a natural resource curse despite losing ground on the leading nations. This study fills a gap in the literature by examining the effect of education and schooling on productivity growth between 1860 and 1939 using a unique dataset from the colony of Victoria. Using a growth accounting exercise, we examine the role of productivity changes in the overall growth picture of Victoria and Australia as a whole. We find evidence for productivity-led growth for both. Exploring the relationship between productivity and education measures, we find that while primary school enrolments were important to sustain productivity growth throughout the period, tertiary education was more effective in the first half of the twentieth century. [ABSTRACT FROM AUTHOR]

British convicts transported to Western Australia between 1850 and 1868 were not as positively selected regarding their human capital as early historical accounts suggest. The heights of the convicts were not statistically different from those of British prisoners who were not transported. While few were skilled, the proportion of construction workers was higher than expected, consistent with selection for the needs of the colonial government's works on infrastructure. Data on inmates of Fremantle Prison allow validation of height measurements and occupational statements in the convict list. Australian-born prisoners were taller than those who came from Britain as free immigrants. [ABSTRACT FROM AUTHOR]

Selective migration policies are proliferating worldwide as governments try to attract scientists, highly skilled engineers, medical professionals and information technology professionals. Selective migration policies can be grouped into three ideal-typical models: the Canadian 'human capital' model based on state selection of permanent immigrants using a point system; the Australian 'neo-corporatist' model based on state selection using a point system with extensive business and labour participation; and the market-oriented, demand-driven model based primarily on employer selection of migrants, as practised by the US. After providing an overview of each model, the article compares the three models in terms of policy outcomes as measured by various metrics and then explains how Canadian, Australian, and US governments have recently adopted policies from one another and deviated from their respective selective migration policy models. [ABSTRACT FROM AUTHOR]

This article assesses the economic role of refugee settlers in Australia. Refugee-humanitarian labour force participation rates are lower than for other migrant groups or the Australia-born. However, their labour market performance converges toward that of the Australia-born over time. Moreover, the second generation performs at a higher level. There are a number of significant impediments to participation including language, education, structural disadvantage and discrimination. Indeed, there is evidence of a significant refugee gap which can only be explained by discrimination. It is shown that refugees represent a significant stock of human capital that is not being fully realized. They suffer more than other groups through non-recognition and there is substantial "brain waste" with negative results for the economy and the migrants themselves. Finally, it is shown that refugee-humanitarian settlers show greater propensity to form their own business than other migrants and that risk-taking, entrepreneurialism and an ability to identify and take advantage of opportunities is a key characteristic of the group. [ABSTRACT FROM AUTHOR]

This study explores the types of intellectual capital (IC) information considered important by analysts. It uses content analysis to examine IC information in 64 initiating coverage reports written on Australian listed companies. Results reveal that analysts consider several types of IC information to be important from a firm valuation perspective, many of which had not previously been examined in capital markets research. It was also found that the relative importance placed on types of IC varies by sector. Information on relational capital and company management was most commonly used within analyst reports, whilst information on employees, working environment and structural capital was used least frequently. [ABSTRACT FROM AUTHOR]

This study analyses changes in the labour market in terms of the specific activities that workers perform in Australia. The analysis uses an interface of the United States Government's Occupational Information Network (O*NET) Generalised Worker Activities (GWA) taxonomy and Australian census employment data to provide an understanding of how the labour market has changed in terms of nine areas of work, such as physical activities and administering. Findings suggest that the intensity of worker activities in Australia has increased substantially for the whole of the labour force over a thirty-five-year period; however, these trends differ for different types of jobs, namely full-time and part-time work for men and women. When the worker activities are disaggregated into O*NET's nine areas of work, the results show marked increases in worker activities requiring interaction and mental processes and declines in areas that require physical activities. Implications for the labour market include the necessity for a continuing policy to improve methods to train and retrain the Australian labour force and the need for continued investment in the education sector well into the future. [ABSTRACT FROM AUTHOR]

Over the past five decades, the nature and role of the Australian HR function has changed dramatically, mirroring developments in the United States and in Britain.The most significant change for the HR profession has been the shift from a reactive to a strategic focus. While the strategic importance of HR has increasingly been recognised, challenges remain. Within the discussion of the strategic trajectory of the HR function we analyse changes to the HR role over the last five decades. We also provide an update on perceptions of the HR function using comments from interviews with both senior HR practitioners and top management team executives about how the HR function currently gains influence to perform its strategic role within Australian organisations. We conclude with a discussion of directions for the Australian HR professional. [ABSTRACT FROM AUTHOR]

Johansson S, Leonard R, Noonan K. Caring and the generation of social capital: two models for a positive relationship When caring is linked to social capital, it is generally assumed that the nature of the relationship is that social capital is a resource that can be used for care work. When there is inadequate funding of aged care services by the state, then social capital may be seen as a substitute for economic and human capital. Caring, therefore, is seen as a drain on capital. However, this does not have to be the case. Aged care services, if thoughtfully designed, can not only consume social capital, but also generate it. Two models of elder care, one Swedish and one Australian, have been identified which specifically address the generation of social capital. In each case, the services and facilities have been developed by third-sector organisations with a strong community development focus, often in the face of resistance from state-run or medically oriented services. [ABSTRACT FROM AUTHOR]

Increasing landholder participation in environmental programmes is often essential for achieving desired levels of restoration and protection, as well as the economic goals of efficiency and equity. Previous literature has identified sociodemographic property and attitudinal variables that influence participation. Using qualitative research, we identify variables relating to human capital (business orientation and information seeking behaviour) and social capital (trust in those delivering programmes and connectedness with other landholders) that have been seldom or never identified as influencing participation. New scales are developed and existing scales refined for measuring these constructs, and their influence on past and future participation is examined together with a range of other constructs. The effect of these variables is examined using a survey of Australian landholders, and the results demonstrate the primacy of variables relating to human and social capital in influencing past and future participation. [ABSTRACT FROM AUTHOR]

A dynamic labour force participation model is used to capture the effect of severity of disability on labour force participation using a sample of working age Australians drawn from the Household, Income and Labour Dynamics in Australia survey. The role of work limitation is shown to be significantly dissimilar across gender, age and severity groups. The simulated impact of limitations is most dramatic for low-skilled women. The new work requirements imposed on Disability Support Pension recipients are shown to be highly effective for this group. [ABSTRACT FROM AUTHOR]

The history of Australia since the 1960s has been one of substantial economic change. One of the key drivers of this has been the growth in the importance of human capital formation and the knowledge intensification of occupations. This paper analyses the intensification of knowledge in different types of employment, over the longer term and the corresponding increase in human capital formation. In order to undertake this analysis, the O*NET measures of knowledge and Australian employment data are used to determine the degree to which human capital in Australia has changed. The paper concludes that there has been a slow but steady rise in the knowledge intensity of Australian occupations over the past thirty-five years, although not uniformly across different groups and consequent level of human capital. [ABSTRACT FROM AUTHOR]

This article explores employers' perspectives on the introduction of child employment legislation in Australia through the lens of the three pillars-regulative, normative and cultural-cognitive-of institutional theory. The study extends the traditional industrial relations (IR) focus on regulation to examine how human resource (HR) practices around child employment become legitimised, normalised and socially supported. [ABSTRACT FROM AUTHOR]

HR professionals have been encouraged to make a greater strategic contribution to their organizations for many years. The literature suggests, however, that in general progress has been limited both in Australia and internationally. An important issue is whether HR professionals have the range of skills needed to be effective in a strategic role and what these may be. Based on 360 degree feedback from 1005 colleagues of 197 senior Australian HR managers, this paper explores the qualities needed to operate strategically. The results indicate that Australian HR managers can develop many of the skills required but some areas still need further improvement. [ABSTRACT FROM PUBLISHER]

We use new training data from waves 3-6 of the Household, Income and Labour Dynamics in Australia Survey to investigate training and wages of full-time men. We explore the extent to which the data are consistent with the predictions of human capital theory or with recent alternative theories based on imperfectly competitive labour markets. According to the raw data, most work-related training received by full-time private-sector men is general, but it is also paid for by employers. Our fixed effects estimates reveal that this training is associated with higher wages in current and in future firms, and that the effect in future firms is larger and more precisely determined. These results are more consistent with the predictions of human capital theory based on imperfectly competitive labour markets than with the alternative of perfect competition. [ABSTRACT FROM AUTHOR]

In this paper we examine the spatial employment patterns of Australia's university graduates in nonurban locations. Using a 2006 data set recording the employment status of 65,661 university graduates 6 months after their graduation we examine how the personal and human capital characteristics of the individual university graduate affect the type of rural location into which he or she enters for employment purposes. The importance of identifying which types of graduates work where is essential for our understanding of the forces that are currently shaping the spatial distribution of human capital across Australia's regions. In order to do this we allocate postcode-based data of graduate employment to one of five remoteness classes, as defined by the Australian Bureau of Statistics, that allow us to distinguish between different degrees of rurality. The postcode data are used to associate the ways in which the human capital characteristics of the graduate in terms of the types of university degrees awarded and the universities attended, as well as the personal characteristics of the graduate, are related to the degrees of rurality in his or her employment outcomes. [ABSTRACT FROM AUTHOR]

Although human resource management (HRM) outsourcing is an international trend little has been written in the Australian literature about HRM outsourcing choices. The aims of the research are to determine first which HRM areas are most likely in Australia to be initiated using external consultants, second whether organisational size or sector impacts on the outsourcing decision and third the type of skills that HRM consultants bring into organisations. Results from an on-line survey generating 1372 responses identify training and development, recruitment and selection, and HRIS as the primary outsourced HRM areas. With respect to organisational determinants, larger organisations were more likely to use consultants; sector differences revealed higher recruitment and selection and performance-related pay outsourcing in the private sector, higher HRIS outsourcing in the public sector, and a focus on employee relations in the not-for-profit sector. There are no differences in the qualifications of HRM professionals and consultants but consultants are more likely to have broader business experiences. [ABSTRACT FROM AUTHOR]

Institutional change in water rights in the nineteenth century Australian colony of Victoria raised institutional efficiency, which contributed to long-run economic growth. High-quality human capital and the extension of voting rights (franchise) were crucial for efficient institutional change in the water sector. Quality human capital (literacy) appeared to increase the rural population's awareness of the economic impact of the existing structure of water rights that may have constrained growth in the agricultural sector and reduced investment incentives. Extension of the franchise allowed the rural population to exert political pressure for enactment of change in water rights, which resulted in efficiency-enhancing policies and efficient institutions. The findings show these two factors were more important than Victoria's British colonial heritage in determining whether growth-enhancing institutional change took place. [ABSTRACT FROM AUTHOR]

Within personnel selection there is an increasing emphasis on multi-level selection. However, while there are a range of psychometrically robust tools available for assessing person-job fit, substantially fewer are available for assessing person-team or person-organization fit. One of the few tools available for selecting for person-team fit is the Team Selection Inventory (TSI); however, the only published TSI data relates to UK and Greek samples. Given that selection processes in New Zealand and Australia, as well as other parts of the Asia-Pacific region, are similar to those in the UK, with a growing need for valid measures of person-team fit, the aim of the current study was to begin the process of collecting data from the Asia-Pacific region by providing psychometric data from a sample of graduating New Zealand students (n = 148). Results demonstrated similar psychometric properties to the UK data, along with minimal gender and ethnic group differences. [ABSTRACT FROM AUTHOR]

The Intergenerational Report (IGR) released by the Department of the Treasury of the Commonwealth of Australia in 2002 highlighted pressures that in the future would threaten the sustainability of the Australian government's budget balance. These pressures result from the growing needs of an aging population and labor shortages that will limit economic growth and taxation revenue. The IGR has become a driving force in planning government policy. The Treasurer has recently said that “the whole economic agenda of the government at the moment is drawn from the IGR.” In response, the Prime Minster and Treasurer have promoted deferred or gradual retirement as part of the solution. However, about 50% of men and 20% of women retire early as a result of ill health, indicating that poor health is potentially a limiter of economic growth. This paper reports lower labor force participation among persons with poorer health and that these persons move out of the labor force at a faster rate as they age. A range of measures suggests some decline in health in the pre-retirement age group (those aged from 40 to 64 years). This indicates that better health may be a facilitator of greater labor force participation in the baby boomer cohort. However, there is evidence that improving economic conditions in Australia leading to low unemployment has created an environment more favorable to the employment of older workers with health problems as there has been a rise in labor force participation in these groups, and measures to prevent chronic disease may further increase the employment prospects. [ABSTRACT FROM AUTHOR]

This study investigates why some economics departments in Australian universities are more research productive than others. The hypothesis is simple: research productivity depends upon the human capital of department members and the department-specific conditions under which they work. A Tobit model is used to estimate the magnitude of the two effects. Both are found to be important. Our results help explain why a small number of departments consistently outperform the others in studies that rank Australian economics departments according to research output. [ABSTRACT FROM AUTHOR]

How does parental education affect time in the paid workforce and time with children? Potentially, the effects are contradictory. An economic perspective suggests higher education means a pull to the market. Human capital theory predicts that, because higher education improves earning capacity, educated women face higher opportunity costs if they forego wages, so will allocate more time to market work and less to unpaid domestic labour. But education may also exercise a pull to the home. Attitudes to child rearing are subject to strong social norms, and parents with higher levels of education may be particularly receptive to the current social ideal of attentive, sustained and intensive nurturing. Using data from the Australian Bureau of Statistics Time-use Survey 1997, this study offers a snapshot of how these contradictory pulls play out in daily life. It finds that in Australia, households with university-educated parents spend more daily time with children than other households in physical care and in developmental activities. Sex inequality in care time persists, but fathers with university education do contribute more time to care of children, including time alone with them, than other fathers. Mothers with university education allocate more daily time than other mothers to both childcare and to paid work. [ABSTRACT FROM AUTHOR]

Lucas (1988) modelled the productivity of workers as being a function not only of their own human capital but the human capital of the people with whom they work. Using individual data, this paper investigates whether there are such human-capital externalities. In particular, we look at the research output of academic economists, and ask whether research-output productivity is affected not just by individual human-capital factors, and institutional and funding factors, but additionally by productivity of those in the same academic department. Our findings are also of relevance to the literature on peer-group effects and the ‘Bell Curve’ debate. [ABSTRACT FROM AUTHOR]

The article discusses the productivity of the health workforce in Australia. The Productivity Commission's report, "Australia's Health Workforce," makes recommendations for policy reform that pertain to public and private financing, market failure, and jurisdictional and professional boundaries. The economic measurement of doctor productivity involves the physician's skills and the value of doctor activity to patients and society. Data for the period 1997-2003 includes trends in the demand for specialist services, total revenue, the number of general practitioners and specialists per hundred-thousand population, and price per service.

This paper investigates how marriage affects the wages of men in Australia. It finds that there are wage advantages associated with marriage, although men benefit most, in terms of wages, from being married to a more highly educated woman. This advantage is greater where the wife does not work. These findings are more aligned with human capital theory than with assortative mating theory. The focus on the family reflects many of Bob Gregory's contributions, including his study in the Journal of Labor Economics in 2005 ( Meng & Gregory 2005 ). [ABSTRACT FROM AUTHOR]

In a series of studies written during the 1980s, Bob Gregory and his co-authors compared the gender wage gap in Australia with that found in other countries. They found it was not the difference in human capital endowments that explained different gender wage gaps but rather the rewards for these endowments. They concluded that country-specific factors, especially the institutional environment, were important in explaining the gender wage gap. This study updates Gregory's work by comparing the gender wage gap across four countries, Australia, France, Japan and Britain. Our results concord with those of Gregory: institutions are still important in explaining the relative size of the gender wage gap. [ABSTRACT FROM AUTHOR]

Human capital, or a better educated labour force, is a major determinant of economic growth and productivity. However, recent trends in the cost of education in Australia may cause growth and productivity to suffer. For example, during the period 1982-2003 inflation rose on average by 4.4 per cent per annum, whereas the cost of education grew overall on average by 7.8 per cent. This has made education a relatively expensive item among Australian households. However, one can argue that the increased cost of education to private households may reflect choices to purchase a higher quality for their children in private schools and as such government should not be concerned about it. This paper compares and contrasts the cost of education in Australia and comparable economies with the cost of other goods and services embedded in the CPI (Consumer Price Index) basket, using the latest available quarterly data. Finally, the major determinants of the rising cost of education in Australia are examined. It is found, inter alia, that over the period 1986-2003 the increasing number of students enrolled at non-government primary and secondary schools and the introduction of the Higher Education Contribution Scheme (HECS) were two important determinants of the rising cost of education. [ABSTRACT FROM AUTHOR]

We use Australian data to test the Conditional Capital Asset Pricing Model (Jagannathan and Wang, 1996). Our results are generally supportive: the model performs well compared with a number of competing asset pricing models. In contrast to the study by Jagannathan and Wang, however, we find that the inclusion of the market for human capital does not save the concept of the time-independent market beta (it remains insignificant). We find support for the role of a small-minus-big factor in pricing the cross-section of returns and find grounds to disagree with Jagannathan and Wang's argument that this factor proxies for misspecified market risk. JEL classification: G12 [ABSTRACT FROM AUTHOR]

This paper presents tests of the screening hypothesis using data on adult males from the 1996 Australian Census of Population and Housing. These tests are based on comparisons of wage and salary earners and the self-employed, and public and private sector workers, as examples of screened and unscreened employments. The first test compares the mean levels of schooling, income and labour market experience in screened and unscreened sectors, while the second examines the returns to schooling and the goodness of fit of the earnings models for both wage and salary earning (separated into public and private sector employees) and self-employed groups. The results are equivocal, but suggest screening could be part of the earnings determination process in the Australian labour market. [ABSTRACT FROM AUTHOR]

This article examines the sources of economic growth in Australia from 1960 to 2000 by adapting a framework developed in Jones (2002), whereby long-run growth is driven by the global discovery of new ideas, which in turn is tied to world population growth. We find that, contrary to the conventional view as suggested by sustained growth rates and a stable capital–output ratio over the last several decades, Australia is clearly not on its steady–state balanced growth path. Australia has benefited from increases in educational attainment and research intensity: 42 per cent of Australian growth between 1960 and 2000 is attributable to the rise in educational attainment, about 20 to 40 per cent is attributable to increasing research intensity, while only 10 to 30 per cent is due to long-run population growth in the idea-producing countries. [ABSTRACT FROM AUTHOR]

This study presents a model capturing sources of Australian aggregate labour productivity using annual time series data from 1970 to 2001. Labour productivity, or real output per hour worked, in this model is determined by real net capital stock in information technology and telecommunications (ITT), real net capital stock in the non-ITT sector, trade openness, human capital, the wage rate, international competitiveness, and the union membership rate. Given the lack of long and consistent time series data, multivariate cointegration techniques are inappropriate as the cointegration results will be sensitive to the lag length, the inclusion or exclusion of the intercept term or a trend in the cointegration equation and/or the vector autoregression (VAR) specification. Therefore, the Engle-Granger representation theorem and the Hausman weak exogeneity test have been employed to determine the short and long-term drivers of Australian productivity. Empirical estimates indicate that, in the long-term, policies aimed at promoting various types of investment, trade openness, international competitiveness, and the use of wage as a stimulant in a decentralised wage negotiation system, will improve labour productivity. In the short term, all the above variables except for human capital and labour reforms, which both need more time to evolve, determine productivity performance. [ABSTRACT FROM AUTHOR]

The paper attempts to project the future trend of the gender wage gap in Australia up to 2031. The empirical analysis utilises the Income Distribution Survey (1996) together with Australian Bureau of Statistics (ABS) demographic projections. The methodology combines the ABS projections with assumptions relating to the evolution of educational attainment in order to project the future distribution of human capital skills and consequently the future size of the gender wage gap. The analysis suggests that female relative pay will continue to rise up to 2031. However, gender wage convergence will be relatively slow, with a substantial gap remaining in 2031. [ABSTRACT FROM AUTHOR]

Decisions about expenditure on health, education and other publicly provided services require choices regarding how much of our collective income we should allocate to these services and which services should be given priority. The attempt to answer this question has stimulated many developments in economic theory and practice, from human capital theory to systems of extended national accounts. This paper is a brief survey of some of the most important ideas, with reference to their implications for Australian public policy. [ABSTRACT FROM AUTHOR]

This paper uses Australian Census data to examine the earnings of female professionals. Comparisons are made between Registered Nurses (RNs), Teachers, Social Professionals, Health Professionals and Business Professionals. Wage decompositions show that RNs earn significantly less than other female Professionals and that the observed differentials can not be explained by differences in human capital endowments. The evidence presented is strongly suggestive of monopsonist or oligopsonist power in the setting of nurse wages – with a manifestation being persistent labour market disequilibrium. Changing the relative reward structure for nurses may help address the on-going nursing ‘shortage’ in Australia, although further research in this area is called for. [ABSTRACT FROM AUTHOR]

Increasing inequality in Australian cities has created the need for a deeper understanding of the interaction between spatial segmentation and economic outcomes. This paper offers a preliminary economic analysis of Australian neighbourhood externalities in the context of increasing segmentation. Theoretically, neighbourhoods can affect youths' economic out- comes through their effects on school quality, information flows, job networks, and demonstration effects. We utilise a new survey of 171 year 12 students in ten Melbourne high schools to examine the impact of individual, family, and neighbourhood characteristics on the decision to attend post-secondary education. It is shown that there exist neighbourhood externalities that affect human capital investment decisions. Finally, we offer some tentative implications for public policy. [ABSTRACT FROM AUTHOR]