Economic Record (ECON REC )

Publisher: Economic Society of Australia; Economic Society of Australia and New Zealand, Blackwell Publishing


Published on behalf of the Economic Society of Australia The Economic Record is intended to act as a vehicle for the communication of advances in our knowledge and understanding in economics. It publishes papers in the theoretical applied and policy areas of economics and provides a forum for research on the Australian economy. It also publishes surveys in economics and book reviews to facilitate the dissemination of knowledge.

  • Impact factor
  • 5-year impact
  • Cited half-life
  • Immediacy index
  • Eigenfactor
  • Article influence
  • Website
    Economic Record, The website
  • Other titles
    The Economic record, ER
  • ISSN
  • OCLC
  • Material type
    Periodical, Internet resource
  • Document type
    Journal / Magazine / Newspaper, Internet Resource

Publisher details

Blackwell Publishing

  • Pre-print
    • Author can archive a pre-print version
  • Post-print
    • Author cannot archive a post-print version
  • Restrictions
    • Some journals impose embargoes typically of 6 or 12 months, occasionally of 24 months
    • no listing of affected journals available as yet
  • Conditions
    • See Wiley-Blackwell entry for articles after February 2007
    • Publisher's version/PDF cannot be used
    • On author's server, institutional server or subject-based server
    • Server must be non-commercial
    • Publisher copyright and source must be acknowledged with set statement ("The definitive version is available at")
    • Articles in some journals can be made Open Access on payment of additional charge
    • 'Blackwell Publishing' is an imprint of 'Wiley'
  • Classification
    ​ yellow

Publications in this journal

  • [Show abstract] [Hide abstract]
    ABSTRACT: This article compares the output composition of the monetary policy transmission mechanism in Australia to that for the Euro area and the USA. Four vector autoregressive (VAR) models are used to estimate the contributions of private consumption and investment to output reactions resulting from nominal interest rate shocks for the period 1982Q3–2007Q4. The results suggest that the investment channel plays a more important role than the consumption channel in Australia, while the contributions of the two channels are indistinguishable in the Euro area and the USA. The difference between Australia and the Euro area comes from differences in housing investment responses, whereas Australia is different to the USA mainly because it has a lower share of household consumption in total demand.
    Economic Record 06/2014;
  • [Show abstract] [Hide abstract]
    ABSTRACT: This paper investigates the key drivers of fixed firm investment of listed non‐financial companies in Australia over the period from 1987 to 2009. A Tobin's q model of investment is augmented to account for the effect of economic uncertainty on the investment decision. The effects of Tobin's q, sales and cash flows on firm investment rate are also analysed and discussed. Consistent with existing literature, this research finds clear evidence of negative effects of both macroeconomic and firm idiosyncratic uncertainty on Australian firm investment. However, evidence also shows that firm‐specific uncertainty is more important in explaining firm investment than macroeconomic uncertainty.
    Economic Record 06/2014; 90.
  • [Show abstract] [Hide abstract]
    ABSTRACT: This article examines the role played by primary and secondary equity markets in economic growth. It departs from standard literature to integrate both markets and to explicitly acknowledge the primary equity market. By employing a variety of dynamic panel estimators for 54 countries over the period 1995‐2010, we show that the primary equity market is not an important determinant of economic growth, although it facilitates the development of the secondary market. This study also confirms the importance of liquidity provided by the secondary market. The evidence here calls for further investigation into the capital‐raising function of equity markets.
    Economic Record 01/2014; 90.
  • [Show abstract] [Hide abstract]
    ABSTRACT: This study implements a procedure to evaluate time-varying bank-interest rate adjustments over a sample period which includes changes in industry structure, market and credit conditions and varying episodes of monetary policy. The model draws attention to the pivotal role of official rates and provides estimates of a bank equilibrium policy rate. The changing sensitivity of official rates to banking conditions is identified. Results are also provided for the variation in intermediation margins and pass-throughs as well as the interactions between lending and borrowing behaviour over the years, including behaviour before, during and after the global financial crisis. The empirical methodology is applied to the US and the Australian banking systems.
    Economic Record 06/2013;
  • [Show abstract] [Hide abstract]
    ABSTRACT: There is an ongoing controversy over whether banks’ mortgage rates rise more rapidly than they fall due to their asymmetric responses to changes in the cash rate. This paper examines the dynamic interplay between the cash rate and the standard‐variable mortgage rate using monthly data in the post‐1989 era. Unlike previous Australian studies, our proposed threshold and asymmetric error‐correction models account for both the amount and adjustment asymmetries. We found that the Reserve Bank of Australia’s rate rises have a much larger and more instantaneous impact on the mortgage rate than rate cuts.
    Economic Record 09/2012; 88(282).
  • [Show abstract] [Hide abstract]
    ABSTRACT: We estimate the impacts of remittances on poverty in Tonga, a poor Pacific island country highly dependent on migrants’ remittances. Using household survey data, we apply Propensity Score Matching (PSM) to estimate without‐remittances incomes of migrant households from which counterfactual poverty rates are derived. We compare these with poverty rates from observed income including remittances to gauge their effects on poverty. We find that remittances reduce the incidence of poverty by 31 per cent and depth of poverty by 49 per cent. The results are robust both to alternative specifications of the PSM model and to use of an alternative counterfactual income estimation method.
    Economic Record 09/2012;
  • [Show abstract] [Hide abstract]
    ABSTRACT: We analyze the consumption–wealth relationship using a framework that accounts for transitory variation in wealth, and in a setting where transitory variation in household net worth is not dominated by boom and bust cycles in stock markets. We find that a transitory asset wealth increase coincides with a substantial transitory increase in consumption. In addition, we find that gross asset wealth and household debt are positively related. Both findings constitute departures from standard Permanent Income Hypothesis (PIH) theory with complete financial markets.
    Economic Record 09/2012; 88(282).
  • Economic Record 01/2012; 88(281).
  • Economic Record 01/2012;
  • Economic Record 01/2012; 88(282).
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    ABSTRACT: This paper investigates the relationship between children’s long‐term health problems and parental labour supply using the 2004, 2006 and 2008 Longitudinal Study of Australian Children (LSAC). The results from the individual Fixed Effects Model indicate that mothers of children aged 0 years in 2004 reduce their labour supply when their children start to show long‐term health problems, and their household income declines by 8 per cent, mainly due to the partners’ shift from permanent to fixed‐term work. Parents of children aged 4 years in 2004 show no change in these outcomes associated with the onset of their children’s long‐term health problems.
    Economic Record 01/2012;
  • Source
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    ABSTRACT: By using a simple North‐South trade model with vertically related markets, this article draws our attention to previously unidentified effects of foreign direct investment (FDI), namely that a North downstream firm affects the pricing behavior of an input supplier through technology spillovers and market integration led by FDI. Whether or not the North firm strategically undertakes FDI in the presence of technology spillovers depends on the South firm's capacity to absorb North's technology. When the capacity is not very high, the North firm could actually gain from technology spillovers to the South firm. FDI may benefit all producers and consumers.
    Economic Record 01/2012;
  • Economic Record 01/2012; 88(281).