A stochastic life-cycle model is used in this report to examine the implications for Australian retirees of full access to dividend imputation credits. We find that the availability of imputation credits can justify a significant bias towards Australian equities in retirement portfolios, largely at the expense of world equities. We also generate estimates of the...

In this paper I rectify and extend the market governance model of Holmstrom and Tirole (1993) to develop and test a number of hypotheses concerning board structure and incentives. The forced departure of "non-independent" directors from the boards of companies due to regulatory-induced pressure enables the testing of this new theory of corporate governance based...

Summary: This paper suggests that there is a way to arrive at a proximate, dependable estimate of the number of Aboriginal frontier casualties at the hands of colonial Queensland’s Native Police Force. By using data that provides accurate information on the number and duration of ‘police’ camps, the frequency of patrols, the surviving records of...

This report examines the impact of immigration on the residential market within urban areas. Discussing the development of a spatial equilibrium model that shows how the effect of an immigrant inflow in a district affects local housing prices through changes in how natives perceive the quality of their local amenities and how this influences their...

Data from the 2005 Residential Energy Consumption Survey (RECS) indicate suburbanites, compared with city dwellers, have on average higher per-capita residential energy consumption. However, it is not clear why suburbanites tend to consume more energy at home. Using a two-group structural equation modeling, I analyzed direct and total effects of household’s sociodemographic characteristics, income, and...