Journal Archive
Volume 11, Issue 1-2, 1981
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Articles:
- Utility Compensation in the Pure Theory of International Trade: An Empirically-Oriented Generalisation (J. Carmichael)
- The Redistributional Effects of Personal Income Tax in Australia (T.M. Alchin)
- The Sector Theory and Interregional Labour Force Disparities in Queensland, 1864-1976 (C.P. Harris)
- Australian Wealth-Holders Industry 1956 to 1976 (R. Gunton)
- Explaining Postwar Inflation Trends: An Exposition and Extension of Some Recent Research (G. Kingston)
- Statistical Developments in Australia (H.U. Tamaschke, S.R. Harrison)
- The Determinants of Labour Hoarding in Australian Manufacturing (R. Gunton, M. Metwally)
- The Relative and Absolute Performance of the Services Sector in the Industrialized and the Developing Countries (R. Gunton, M. Metwally)
- Non-Traded Goods and Comparative Advantage: A Multisectoral Analysis of Trade Policy in Australia (F.K. Bishay, M. Bishay)
- A Note on Pricing-Advertising Reaction Function (M.M. Metwally)
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Utility Compensation in the Pure Theory of International Trade: An Empirically-Oriented Generalisation
J. Carmichael
Pages: 3-13
Abstract:
One of the cornerstones of the modern welfare approach to international trade theory is the compensation principle due to Samuelson. The difficulty with the compensation principle is that it pays scant attention to the way in which the equilibrium of the system changes when compensation is actually paid. This paper is concerned with the efficient location of the set of the utility-compensated equilibria; that is, the set of equilibria that satisfies the condition that compensation be paid such that no-one is worse off following a particular event or policy change. Using the gains from trade as an example, Dixon’s theory of joint maximisation is shown to be an ideal tool, in an empirically-implementable form, for problems of this type.
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The Redistributional Effects of Personal Income Tax in Australia
T.M. Alchin
Pages: 14-21
Abstract:
The purpose of this paper is to show that the progressive income tax in Australia has achieved some equity in terms of income redistribution by personal income taxation.
There are many redistributional aspects associated with the actions and policies of governments. For example, public education is primarily a redistribution of income from the wealthy to the poor, from small families to large ones and from older to younger generations. Debate also centres on whether the redistribution should be in terms of public goods, cash benefits or progressive income taxes. This study aims to refute the argument that has been expressed that the progressive income tax system has failed to achieve any equity through redistribution of income. Data examined in this study show that annual levelling of incomes has occurred through taxation especially in the last decade. It is not the purpose of this paper to argue whether the primary (or pre-tax) income redistribution is more equitable in 1979-80 than in 1950-51. Rather comment is made on what can be established in terms of the incidence or redistributive impact of income tax, i.e. whether the secondary (or post-tax) income is more equitable than the primary in each year considered.
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The Sector Theory and Interregional Labour Force Disparities in Queensland, 1864-1976
C.P. Harris
Pages: 22-35
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Australian Wealth-Holders Industry 1956 to 1976
R. Gunton
Pages: 36-48
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Explaining Postwar Inflation Trends: An Exposition and Extension of Some Recent Research
G. Kingston
Pages: 49-62
Abstract:
The purpose of this paper is to exposit and extend some recent work, by numerous economists, on postwar inflation trends. Section I describes some of the empirical regularities that have been detected in postwar inflationary experience. Section II attempts to explain there regularities in the case of countries that have either failed to maintain stable exchange rates or have had their exchange rates pegged mainly by foreign (rather than domestic) central bank intervention in international currency markets. An example of the former kind of country in Argentina, and the prime example of the letter in the United States. Section III considers the other kind of country, namely, those with central banks that have maintained fairly rigid exchange rates. Section IV concludes the main text with comments on policy implications and promising directions for future research. The Appendix consists of a mathematical elaboration of ideas presented diagrammatically in Section II.
For completeness, this paper contains a substantial amount of received theory. There is original material too, namely, some new data-processing exercises (see Sections I and III), a modification of Mundell’s (1972) analysis of the dollar stand with a zero rate of time preference (Appendix).
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Statistic Developments in Australia
H.U. Tamaschke, S.R. Harrison
Pages: 63-73
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The Determinants of Labour Hoarding in Australian Manufacturing
R.Gunton, M. Metwally
Pages: 74-91
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The Relative and Absolute Performance of the Services Sector in the Industrialized and the Developing Countries
R.Gunton, M.M. Metwally
Pages: 92-102
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Non-Traded Goods and Comparative Advantage: A Multisectoral Analysis of Trade Policy in Australia
F.K. Bishay, M. Bishay
Pages: 103-119
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