Steven Bond-Smith

University of Hawaiʻi at Mānoa | UH Manoa · Economic Research Organization (UHERO)

In this paper we set out the relationships between the behavioural, technological and spatial changes in systems that allow for heterogeneous responses to working-from-home by different types of actors, and also identifies the channels via which such changes take place. Unlike all other papers on the subject, the analytical framework we propose cen...

Hawaii was vulnerable to the COVID-19 pandemic due to its reliance on tourism. This article analyzes the pandemic’s economic impact in Hawaii by comparing outcomes with the pre-pandemic forecast. We explain why Hawaii’s experience differed from other states, suggest reasons for a slow recovery, and discuss the pandemic’s lasting effects.

Specialization in tourism exposes the economy of Hawai‘i to external shocks that trigger collapses in tourist numbers. Furthermore, Hawai‘i's economic growth has diminished for decades as the dominance of tourism has not generated productivity growth. In response, policy makers in Hawai‘i increasingly emphasize diversification. This article examine...

Specialization in tourism exposes the economy of Hawai'i to external shocks that trigger collapses in tourist numbers. Furthermore, Hawai'i's economic growth has diminished for decades as the dominance of tourism has not generated productivity growth. In response, policy-makers in Hawai'i increasingly emphasize diversification. This article examine...

The economy of Hawaii was extremely vulnerable to the COVID-19 pandemic due to its heavy reliance on tourism. This article is a thorough survey of issues affecting a tourism-dependent open economy during the COVID-19 pandemic. We provide a comprehensive analysis of the pandemic's economic impact in Hawaii by comparing the actual outcomes during the...

The economy of Hawaiʻi is extraordinarily concentrated in the tourism industry. As a result of tourism’s dominance, Hawaiʻi's economy faces short-term risks from shocks that impact visitor numbers and long-term stagnation from flat and volatile tourism spending over the last three decades. In response to these issues—which became especially salient...

Achieving policy goals often requires different policies for different places, but the assignment of places to policies is often arbitrary, political, or based on anecdotal evidence. We argue that there are simple analytical techniques to improve policy by allocating places into corresponding ‘policy regimes’ in a more objective manner. We show how...

Increasing returns to scale is essential to both spatial economics and macroeconomic growth. Spatial externalities imply external local increasing returns that generate an uneven spatial distribution of economic activity. While non-rival knowledge also implies increasing returns – in order to endogenise growth – this is not a spatial micro-foundati...

This editorial summarizes the papers in issue 18(2) (2023). The first paper extends the Solow–Swan growth model with spatial dependence, pollution and time delay. The second paper investigates the (mis)match between relative factor costs and the output elasticities of production factors due to innovations in the European Union’s Smart Specialisatio...

This editorial summarizes the papers in issue 18(1) (2023). The first paper sets out a game-theoretic duopolistic spatial model to investigate whether online retailing causes more transportation-related emissions than offline retailing. The second paper proposes a methodology for statistically downscaling projected gross domestic product (GDP). The...

This editorial summarizes the papers in issue 17(4) (2022). The first paper combines input–output modelling with priority weighting to analyse supply-chain impacts of disasters. The second paper examines skill-based functional specialization of value chains in Brazil using interregional and international value-added measures. The third paper questi...

This editorial summarizes the papers published in issue 17(3) (2022). The first paper analyses the impact of knowledge spillovers on patent applications using a Tobit model. The second paper sets out an economic-theoretical model of industrial specialization patterns across cities and their impact on the spatial agglomeration of skilled workers and...

This editorial summarizes the papers published in issue 17(2) (2022). The first paper evaluates logistic regression and machine-learning methods for predicting firm bankruptcy. The second paper demonstrates that machine learning outperforms existing tools to improve the estimation of regional input–output tables. The third paper investigates whethe...

This editorial summarizes the papers published in issue 17(1) (2022). This issue begins with a second editorial calling on researchers to publish replication results from previous studies. The first paper applies a spatiotemporal Bayesian hierarchical model for understanding the dynamics of second home ownership in Corsica. The second paper determi...

I consider the impact of market contestability on innovation and growth. To examine this I use discrete entry (i.e. an integer number of firms) as a tool to vary contestability in each sector of a disaggregated multi‐sector endogenous growth model. Contestability affects entry, extending results beyond competition. As a result, sectors with lower c...

Increasing returns to scale is the basis for many powerful results in economics and economic geography. But the limitations of assumptions about returns to scale in economic growth theories are often ignored when applied to geography. This leads to an unintentional bias favoring scale and mistaken conclusions about geography, scale, and growth. Alt...

I consider the impact of market contestability on innovation and growth. To examine this I use discrete entry (i.e. an integer number of firms) as a tool to vary contestability in each sector of a disaggregated multi-sector endogenous growth model. Contestability affects entry, extending results beyond competition. As a result, sectors with lower c...

This report considers evidence about the existence and scale of agglomeration economies, including in Australian cities. It examines whether city size affects productivity, and whether economic productivity, city size and rising housing costs are interdependent.

Hawai‘i’s vulnerability to economic shocks has become a paramount concern during the pandemic. Extreme specialization in the visitor industry exposes Hawaiʻi to risk and volatility when events such as a pandemic, recession or terrorist attack trigger collapses in visitor numbers. In response, policy-makers in Hawaiʻi are placing an increasing empha...

Increasing returns to scale is the basis for many powerful results in economics and economic geography.But the limitations of assumptions about returns to scale in economic growth theories are often ignored when applied to geography. This leads to an unintentional bias favoring scale and mistaken conclusions. about geography, scale and growth. Alte...

This article builds an understanding of regional innovation specialisation by developing a multi-sector model with endogenous growth through quality improving innovations and spillovers from related technologies. The model provides an approach to incorporate the relatedness literature within the mainstream theoretical frameworks of endogenous growt...

This article builds an understanding of regional innovation specialization by developing a multi-sector model with endogenous growth through quality improving innovations and spillovers from related technologies. The model provides an approach to incorporate the relatedness literature within the mainstream theoretical frameworks of endogenous growt...

Future-Proofing the WA Economy is the fourth report in the Bankwest Curtin Economics Centre’s Focus on Industry report series. The report recommends the implementation of a ‘smart specialisation’ approach to regional diversification, to ensure that new development opportunities build on existing regional capabilities and capitalise on local conditi...

The so‐called “new growth theory” is characterized by the now Nobel Prize winning insight that ideas are a nonrival input to and output from endogenous investment in innovation. Nonrivalry implies increasing returns to scale, but this also unintentionally creates an empirically disputed scale effect that a growing population implies an ever‐increas...

The so-called 'new growth theory' is characterized by the now Nobel Prize winning insight that ideas are a non-rival input to and output from endogenous investment in innovation. Non-rivalry implies increasing returns to scale, but this also unintentionally creates an empirically-disputed scale effect that a growing population implies an ever-incre...

This article analyses the relationship between compatibility and innovation in markets with network effects using a model of competition with endogenous R&D, commercialization and compatibility. Compatibility is a mutual decision between firms and demand is partially dependent on overall consumption across compatible networks. Incumbent acquisition...

This article analyses the relationship between compatibility and innovation in markets with network effects using a model of competition with endogenous R&D, commercialization and compatibility. Compatibility is a mutual decision between firms and demand is partially dependent on overall consumption across compatible networks. Incumbent acquisition...

We often hear that an ageing Western Australian population will have a profound impact on our labour market and economy. However, it is the pressure that this changing demographic is placing on our health system that may cause the largest social impact of all. This third BCEC Focus on Industry report provides an in-depth investigation of the healt...

New data technologies, big data analytics and intelligent software systems are transforming the way we produce, consume or distribute commodities, and increasingly, the way we access services. They are also changing the way in which we engage with our personal, social and business networks and communities. This BCEC Focus on WA report shows there...

In this paper we model growth using a scale-neutral approach to innovation allowing differences between regions to emerge due to regional mechanisms. In this model, agglomeration is growth enhancing as the scale effect for innovation arises from greater access to knowledge rather than any assumed scale effects in growth-modelling techniques. Furthe...

The 2015 Federal Budget referred to small businesses as the ‘engine room’ of the economy. Australia’s changing economic landscape means that governments are placing greater emphasis on the important role of small businesses for growth and employment. This is not unique to Australia, with small firms seen as the driving force of growth across many o...

There has been a collective nervousness following the decline in the resources sector in Western Australia and its associated grim headlines. Agriculture has historically been an important industry for the state. With an expanding middle class in China and a rising population in South-East Asia, agribusiness has now emerged to be a much touted cand...

Positioned for an Ideas Boom is the fourth report in the Bankwest Curtin Economics Centre Focus on the States series. The report examines an issue of central importance to maintaining economic growth, improving competitiveness and creating jobs – productivity and innovation. The much anticipated National Innovation and Science Agenda launched by P...

We describe how endogenous growth theory has now incorporated spatial factors. We also derive some of the policy implications of this new theory for growth and economic integration. We start by reviewing the product variety model of endogenous growth and discuss similarities with modeling techniques in the new economic geography. Both use Dixit-Sti...

We examined whether the charges for waste disposal in New Zealand reflect the full social, environmental and economic costs. Landfills are operated in New Zealand on a fully commercial basis, by local authorities, or under a private/public partnership. Generally charges are used to recover costs, but some landfills operated by councils include rate...

We examine endogenous growth through vertical innovations in a two region model with partial regional and varietal knowledge spillovers. This paper extends the growth literature by adding a regional endogenous growth model with improvements in product quality, instead of a product variety engine for growth, where we account for partial knowledge sp...

This report has a narrow scope for analysis; it examines the impacts on the industry supplying insulation and clean heating. It assesses:  the producer surplus associated with production and installation of insulation and clean heating;  additional employment in production and installation; and the  wider effects on employment elsewhere in the e...

This report examined appropriate discount rates for biodiversity offsets. Due to what is being replaced by the offset, the report recommends very low discount rates be applied for time discounting.

Bespoke pricing signals are one of the options identified within the Transmission pricing review (TPR). Covec has been asked by the Electricity Commission to explore this option and report on 1. Its background and rationale; 2. The nature and potential scale of benefits; 3. Implementation options; 4. The likely costs and benefits of these options r...

The purpose of this report is to provide the Parliamentary Commissioner for the Environment (PCE) with a set of “best guess” estimates for the carbon price in 2020 and 2030 for three climate policy scenarios that reflect a range of anticipated levels of global ambition in reducing emissions. The report is based on a review of projected prices in ex...

This report examines the current and expected future prices of coal in New Zealand for domestic and export markets. It is produced to provide data as input to forecasting and other modelling work by MED and other government agencies. The work has been based on industry interviews and analysis of published price data. Interviews have been held with...