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Using a quarterly survey of 23,000 Australian retail equity investors, we study the relationship between beliefs about risk and returns and stock market intentions regarding holding, buying and selling. We provide evidence that investor intentions regarding buying or selling are primarily characterised by risk and return expectations, but sensitivity to their beliefs about risk and returns is greater for the intention to sell than to buy. In contrast, demographic factors such as gender, income and age play a key role in the decision to hold rather than trade. The results have significant ramifications for stock market participation and trading intensity in Australia. [ABSTRACT FROM AUTHOR]

We investigate the relationship between labor's share, firm's market power, and the elasticity of output with respect to labor input using an approach based on an unobserved components model. The approach yields time-varying estimates of market power and the elasticity. Evidence on the market power of firms (which we find to be rising since 2000) gives a deeper understanding of movements in labor's share and the labor wedge. The generated values of the elasticity yield revised estimates of total factor productivity growth which is informative about the extent of the downward bias inherent in traditional estimates which use labor's share as a proxy for the elasticity. (JEL 047, C32, E25), I. INTRODUCTION Recently there has been an upsurge of interest in the functional distribution of income (see, for example, Autor et al. 2017a, 2017b; Barkai 2016; Caballero, Farhi, and Gourinchas [...]

To authenticate to the full-text of this article, please visit this link: http://dx.doi.org/10.1111/j.1467-8462.2009.00582.x Byline: Guay C. Lim ([dagger]), Chew Lian Chua ([dagger]), Edda Claus ([dagger]), Sarantis Tsiaplias ([dagger]) Author Affiliation: ([dagger])Melbourne Institute of Applied Economic and Social Research, The University of Melbourne Article History: November 2009

To authenticate to the full-text of this article, please visit this link: http://dx.doi.org/10.1111/j.1467-8462.2009.00543.x Byline: Guay C. Lim ([dagger]), Chew Lian Chua ([dagger]), Edda Claus ([dagger]), Sarantis Tsiaplias ([dagger]) Author Affiliation: ([dagger])Melbourne Institute of Applied Economic and Social Research, The University of Melbourne Article History: December 2008

This article summarises developments in the Australian economy in 2020. It describes the economic growth and labour market ramifications associated with COVID‐19, and the fiscal and monetary policies implemented to help counter its effects. COVID‐19 has resulted in considerable slack in an economy that was weak pre‐pandemic. While current policies are appropriately focused on stimulating demand and supporting employment, existing challenges such as weak growth in productivity, gross domestic product and real wages are also likely to remain relevant post‐pandemic. [ABSTRACT FROM AUTHOR]

This article discusses recent research on the macroeconomic effects of fiscal policy—the theme of the 2018 edition of the Melbourne Institute Macroeconomic Policy Meeting. We review recent research findings on the effects of fiscal multipliers in normal times, during booms/busts, and in the presence of the zero lower bound. Studies on the effects of fiscal policy in open economy settings as well as contributions on the fiscal‐monetary policy mix are also considered. We conclude by outlining a few research avenues that are particularly relevant from a policy standpoint. [ABSTRACT FROM AUTHOR]

ABSTRACT: This article discusses macroeconomic policies in a low interest rate environment, the central theme of the 2017 edition of the Melbourne Institute Macroeconomic Policy Meeting. After reviewing possible causes of the decline in interest rates observed since the 1990s, we present and discuss some of the challenges that monetary and fiscal policy face in a ‘new normal’ environment characterised by a real natural interest rate close to zero. Proposals by leading researchers on how to operate in such an environment are presented and discussed. We conclude by outlining some research questions that are highly relevant from a policy perspective. [ABSTRACT FROM AUTHOR]

This article summarises the academic contributions presented and discussed during the 2016 edition of the Melbourne Institute Macroeconomic Policy Meetings, which focused on the role played by uncertainty for a number of countries' business cycle. Considerations on the interaction between uncertainty and financial frictions, the global dimension of uncertainty, uncertainty shocks in times of unconventional monetary policy and the imperfect knowledge that agents have over policy targets are among the discussions entertained in this article. The main insights coming from those papers are connected with the extant literature and directions for future research are offered. [ABSTRACT FROM AUTHOR]

An introduction is presented in which the editors discuss the proceedings of the 2015 Melbourne Institute Macroeconomic Policy Meeting on October 15-16, 2015 at the Melbourne Institute in Victoria that highlights the macroprudential policies.

The article offers information on the performance of the Australian economy in 2012-2013. It discusses gross domestic product (GDP), budget deficit, cash rate and inflation. It mentions that terms of trade declined by 14.1 percent. It also focuses on growth projection by the International Monetary Fund (IMF) for various countries such as China and the U.S.

The article focuses on the relativities on the global growth on employment and gross domestic product (GDP) and its implications on Australia in terms of real exchange rate and trade. It explores the state of economy in the country in 2012 and 2013. It states that the differential rates of growth in manufacturing and mining will continue, however, value-added services must be considered as next driver of employment and growth.

The article analyzes the economic condition of Australia from 2011-2012. It highlights three aspects of the international economy that affect the Australian economy in the said period such as jobless growth, pattern of commodity trade and paradox of thrift. Moreover, it provides economic outlook on the gross domestic product (GDP), commodity prices and employment by 2012.

The article examines the economic condition in Australia for 2010 to 2011. It discusses international influences including the decrease in unemployment rates worldwide and international trade. It details the country's economic condition in 2010, which include the labor markets, and financial markets. It offers a forecast of the economy for 2011, and presents several charts depicting economic indicators. It concludes that the years to come will be favorable to the country in terms of trade.

This paper applies the Switching ARCH (SWARCH) model of Hamilton and Susmel (1994) to investigate the dynamics of deviations from Uncovered Interest Parity (UIP) for Malaysia for the sample period 1978–2002. In particular, the deviations (or the risk premium) are modelled as a time series subject to discrete regime shifts between two possible states, “high volatility” and “low volatility”. We find that the SWARCH model provides a better description of the data and implies a much lower degree of volatility persistence than conventional ARCH models. Overall, the SWARCH model provides a clearer picture of how the UIP deviations have evolved over time and how the changes in the volatility of the deviations have coincided with major changes in financial liberalisation in Malaysia. This adds credibility to the hypothesis that the shifts are not statistical artefacts but indeed reflect real economic changes. [ABSTRACT FROM AUTHOR]

No abstract received. [ABSTRACT FROM AUTHOR]