bluuebunny/crossref_metadata_2025 huggingface dataset:
TOWARDS A MARKET ORIENTED APPROACH: EMPLOYER REQUIREMENTS AND IMPLICATIONS FOR UNDERGRADUATE ECONOMICS PROGRAMS
Authors: Hellier Phillip , Keneley Monica , Carr Rodney , Lynch Barbara
Published: April 2010

The decline in enrolments in economics degrees and majors has been the focus of much concern in recent times. In 2001, two of the current researchers published a paper outlining a framework with which future investigation into the issue could be conducted (Keneley and Hellier 2001). Essentially this paper argued that a market orientated approach, which takes into account the value students and employers place on economics studies may point the way to a solution to the problem. As a first step in developing such an approach it is necessary to determine what employers require of the economics graduates they hire. With the support of the Economics Society of Australia such a survey was conducted in 2002. This paper presents the results of this survey and discusses some of the ramifications for the teaching of undergraduate economics.
WHY STUDY ECONOMICS? THE PRIVATE RATE OF RETURN TO AN ECONOMICS DEGREE
Authors: Lewis Philip , Daly Anne , Fleming Don
Published: April 2010

This paper considers the implications of the major changes in the labour market for economists over the past twenty years with respect to the private rate of return to investment in an Economics degree. The paper presents estimates based on Census data for 1986, 1991, 1996, and 2001, which show that the private rate of return to the degree has risen over time. Comparisons are made with two of the most likely alternative degrees, namely Business and Law. The results suggest that although students are less attracted to Economics degrees, these degrees have become financially more attractive, particularly relative to Business.
PUT NOT YOUR TRUST(S) IN TAX REFORM: RATHER, DO THE OPPOSITE
Authors: Covick Owen
Published: April 2010

This paper argues that Australia is divided into two distinct nations as far as personal income taxation is concerned. The rift line is essentially between family‐units rather than individuals per se. It separates family‐units that derive their principal incomes from (or via) entities which they effectively control, from family‐units deriving their principal incomes from ‘arm 's‐length’ sources. The proximate causes of this state of affairs are examined, together with the economic consequences. In considering strategies for bringing the two nations closer together, it is argued that seeking to extend the treatment currently accorded to the ‘arm 's‐length’ income‐source people so as to apply it to all Australians would seem unlikely to be implementable. The opposite approach is therefore recommended for serious consideration.
WATER CONSERVATION: THE ROLE OF PRICE AND REGULATION IN RESIDENTIAL WATER CONSUMPTION
Authors: Barrett Greg
Published: April 2010

This paper examines evidence on the role of pricing and regulation in encouraging conservation in residential water consumption. The paper uses the criteria of effectiveness, efficiency, and equity to compare pricing and regulatory approaches to water conservation. The paper concludes that both approaches are important and that a pragmatic mix of policies is most likely to encourage residential water conservation.
THE IMPERFECT MARKET FOR PLAYERS
Authors: Dabscheck Braham
Published: April 2010

Professional team sports have developed a series of monopsonistic labour market rules that have severely limited the economic rights and income earning potential of players. These rules have been linked to the peculiar economics of professional team sports‐the need of competitors to combine to produce a product (games). The paper identifies such rules. It also provides information on individual challenges by players to these rules before common law courts and collective action by players who formed player associations. The paper also outlines the trajectory of collective‐bargaining negotiations in Australian rules football, soccer, rugby union, and cricket.
CHINESE ATTITUDES TO TRADE AGREEMENTS IN THE CONTEXT OF THE PROPOSED AUSTRALIA‐CHINA FREE TRADE AGREEMENT
Authors: Basu Parikshit K. , Hicks John , Sappey Richard B.
Published: April 2010

The governments of Australia and China are presently proceeding through a process with the objective of agreeing to a bilateral Free Trade Agreement (FTA). There is little information available on the attitude of the Chinese to the proposal. This paper reports and analyses research findings from business students and senior academics in a Chinese university with a view to identifying some of the qualitative judgements on the FTA issue. Findings of the survey suggest that the Chinese respondents were clearly in favour of foreign trade agreements, foreign investment and new technologies. A limiting factor is the lack of detailed knowledge of Australia. They generally considered that it would be beneficial for Chinese companies to associate with their Australian counterparts.
WHO'S AFRAID OF THE MARSHALL‐LERNER CONDITION?
Authors: Menzies Gordon D.
Published: April 2010

The Marshall‐Lerner condition—that the sum of the elasticities of import and export demand exceeds unity—has been put forward as a condition that is required for a depreciation to make the trade balance more positive. Based on recently estimated trade equations, the more appropriate condition for Australia is that the sum of the import elasticity of demand and the elasticity of the export price with respect to the exchange rate exceeds unity. I call this the Small Economy Marshall—Lerner (SEML) condition. In recent history, this condition was fulfilled in 1999–2001, when the (unstable) relationship between the terms of trade and the exchange rate broke down.
HOME OWNERSHIP AND INEQUALITY: IMPUTED RENT AND INCOME DISTRIBUTION IN AUSTRALIA
Authors: Saunders Peter , Siminski Peter
Published: April 2010

This paper examines the impact of home ownership on income distribution and the incidence of low‐income, using data from the Household Expenditure Surveys conducted in 1993–1994 and 1998–1999. The market‐value approach is used to derive an estimate of imputed rental income, which is added to disposable income. The results indicate that in 1998–1999, imputed rent had an equalising distributional impact, except at the very top of the distribution. This finding is robust with respect to changes in some of the assumptions that underlie it. Comparisons of low‐income rates by housing tenure and age are very sensitive to the inclusion of imputed rent as part of income, and to the deduction of housing costs from income. Analysis of the changing distributional impact of imputed rent between 1993–1994 and 1998–1999 indicates that while the effect was equalising in both years it is not possible to determine whether the impact became more or less equalising over the period. Simulation results indicate that the ‘disequalising’ impact of changes in gross housing equity (which incorporates the effect of increased house prices) explains much of the observed change in the distribution of income plus imputed rent, and accounted for much of the changed distributional impact of imputed rent itself. Overall, the results highlight the importance of taking account of imputed rent when analysing the structure and distribution of Australian living standards.
AN ALTERNATIVE APPROACH TO IDENTIFYING COUNCILS ‘AT RISK’
Authors: WALKER R. G. , JONES STEWART
Published: April 2010

Murray and Dollery (2005) (MD) applied a statistical model utilising a series of key performance indicators (KPIs) published by the NSW Department of Local Government (DLG) to assess the DLG's procedures for identifying local councils that were ‘at risk’. While it appears that the authors were attacking a straw man (since the DLG's assessments were not based on these KPIs), and their underlying model has some serious flaws, it is contended that a statistical model may be of assistance to those concerned with monitoring the circumstances of local governments. An alternative approach to modelling is described, in which distress is interpreted as an inability to maintain service delivery at pre‐existing levels. It is argued that such a concept is more relevant to the public sector than conventional ‘financial distress’ prediction models. The estimates provided by NSW local councils of the cost of upgrading infrastructure to a satisfactory condition were used as a proxy for levels of distress. Independent variables were selected from a range of KPIs published by the DLG. While MD found that most of the DLG performance indicators were not statistically significant in their model (and therefore not useful discriminators of council distress), this study reaches different conclusions using a different selection of indicators and a distress variable construct that is more appropriately linked to service delivery.
AN ALTERNATIVE APPROACH TO IDENTIFYING COUNCILS ‘AT RISK’: A REJOINDER TO BOB WALKER AND STEWART JONES
Authors: DOLLERY BRIAN
Published: April 2010

Murray and Dollery (2005) developed a statistical model that sought to determine whether the key performance indicators (KPIs) published by the NSW Department of Local Government (DLG) could adequately predict the ‘at risk’ status of local councils that had partly been assigned to councils on the basis of these KPIs. Walker and Jones (2006) contend that Murray and Dollery (2005) were (i) attacking a ‘straw man’ by erroneously misinterpreting DLG procedures and (ii) their model exhibited various econometric problems. In addition, Walker and Jones (2006) developed an alternative model that defined municipal sustainability as the ability to maintain service provision at pre‐existing levels. This Rejoinder addresses the criticisms raised by Walker and Jones (2006) and assesses their alternative model. It is argued that such a concept is more relevant to the public sector than conventional ‘financial distress’ prediction models. The estimates provided by NSW local councils of the cost of upgrading infrastructure to a satisfactory condition were used as a proxy for levels of distress. Independent variables were selected from a range of KPIs published by the DLG. While MD found that most of the DLG performance indicators were not statistically significant in their model (and therefore not useful discriminators of council distress), this study reaches different conclusions using a different selection of indicators, and a distress variable construct more appropriately linked to service delivery.
THE CONUNDRUMS FACING AUSTRALIA's NATIONAL ELECTRICITY MARKET
Authors: CHESTER LYNNE
Published: April 2010

Australia's national electricity market (NEM) is national in name only. It is eight years since the NEM commenced and the objective of a fully competitive market has not been reached. The NEM's structural characteristics, shaped strongly although not exclusively by its evolving regulatory regime, have created the exact antithesis. This paper examines the NEM's key structural characteristics, the consequential pricing and investment outcomes and the conundrums posed for governments and regulators elucidating the reasons why a fully competitive NEM—beyond an increased number of buyers and sellers, and choice of supplier for all consumers—can not be attained without substantial changes.
RECENT TRENDS IN AUSTRALIAN BANKING
Authors: HALL KEITH , VERYARD DANIEL
Published: April 2010

This paper discusses the performance of Australian banks over the past decade, focusing on the forces that have shaped bank strategies and outcomes. The robust Australian economy and associated demand for credit, particularly from the household sector, have been significant drivers of bank success. Intensifying competition in lending and deposits has also played a role, manifesting itself largely as price pressure, but also spurring product innovation and the easing of lending standards. While the combination of these forces has allowed bank balance sheets to grow rapidly, the sector has remained well capitalised and has low levels of non‐performing assets.
GREATER INTERNATIONAL LINKS IN BANKING—CHALLENGES FOR BANKING REGULATION
Authors: WHITE DAMIEN
Published: April 2010

Some recent trends in bank regulation are examined, with particular focus upon the issues raised by multinational banking for collaboration between banking regulators. The experiences of the European Union and of Australian and New Zealand are outlined in order to illustrate the difficulties involved and prospects for harmonisation.
GUARANTEES, INTERCHANGE AND FEES—CURRENT ISSUES WITH LONG‐TERM IMPLICATIONS
Authors: HOSSACK NICHOLAS
Published: April 2010

The purpose of this paper is to give a banking industry perspective on three important policy issues facing Australia's banks. These are the proposal for a deposit insurance scheme, the regulation of the credit card interchange fee and the general issue of bank fees. For each issue, the paper gives relevant details, outlines the industry's perspective and proposes an alternative, pro‐competitive means of addressing the identified problems.
POPULATION AND EMPLOYMENT CHANGES IN REGIONAL AUSTRALIA
Authors: GARNETT ANNE M. , LEWIS PHILIP E. T.
Published: April 2010

Regional Australia has experienced significant changes in population and employment since the early 1990s. Evidence regarding these changes has often been anecdotal, with references in political and media spheres to a ‘Sea Change’ or ‘Tree Change’. There has also been considerable public discussion about the effect that the structural changes and misfortunes within the agricultural sector have had on localities in rural regions. The purpose of this paper is to provide and analyse data on regional population and employment changes since the early 1990s. It will also examine the role that the agricultural sector may have had in these changes. This will provide a basis for informed debate and analysis of population changes in regional Australia and the causes and implications of these changes.
THE GROSS PRICES OF PRIVATE FEE‐FOR‐SERVICE PSYCHIATRIC SERVICES UNDER MEDICARE IN SIX AUSTRALIAN REGIONS 1984–2001
Authors: WILLIAMS RUTH F. G. , DOESSEL D. P.
Published: April 2010

The subsidies available for medical services under Australia's national compulsory and universal health insurance scheme (Medicare) exist to improve ‘equality of access’. This study empirically analyses the gross prices in one medical industry, private fee‐for‐service (FFS) psychiatry, across six Australian regions. Quarterly time‐series data on the average gross prices are examined to determine statistically the extent to which these prices have been constant through time, and spatially uniform. The gross price outcomes of the market(s) in which uniform subsidies apply provide, in part, an indication of whether uniform spatial ‘access’ to psychiatric services is achieved under Medicare.
ASIA'S BOOMING ECONOMIES A DECADE AFTER THE CRISIS
Authors: SMYTH RUSSELL
Published: April 2010

A decade after the Asian financial crisis, Asia as a region is back on track and is becoming of increasing economic importance to Australia. Taken together, the articles in this special issue provide an overview of some of the key issues facing the major Asian economies and the challenges they face in the twenty‐first century. This introductory article gives an overview of this special issue, shows how the contributions relate to each other, and provides a brief introduction to some of the central issues.
DEMOGRAPHIC SHIFT AND PROJECTED LABOUR SHORTAGE IN CHINA
Authors: NIELSEN INGRID , FANG CAI
Published: April 2010

As a result of China's family planning policy of ‘raising population quality and controlling population size’ initiated in the late 1970s, China has accomplished a population transition from high birth rate, low mortality rate and high population growth to low birth rate, low mortality rate and low population growth within a remarkably short timeframe. Along with this population transition, however, comes a shift in population age structure, with a rapid increase in the proportion of elderly people. This paper explores the implications of China's demographic shift for labour supply and suggests policy changes to target an emerging labour shortage.
THE DETERMINANTS OF R&D EXPENDITURE OF FIRMS: EVIDENCE FROM A CROSS‐SECTION OF INDIAN FIRMS
Authors: MISHRA VINOD
Published: April 2010

This article examines the role of firm size and industry structure on the Research and Development (R&D) intensity of a firm. Taking the 2004 data for a cross‐section of Indian firms, we analyse these two areas using the Tobit framework. Using the input‐based measurement of R&D initiative, we found that there is an increasing relationship between the size of a firm and the probability of it engaging in R&D activity. The market share and human capital (proxied by wages) also increases the probability of R&D activity. However we failed to find any significant impact of market concentration and export orientation on a firm's R&D intensity.
DETERMINANTS OF PROTECTION IN THAI MANUFACTURING
Authors: JONGWANICH JUTHAHIP , KOHPAIBOON ARCHANUN
Published: April 2010

This paper examines determinants of effective rates of protection (ERP) and nominal rates of protection (NRP) in Thai manufacturing. Our results indicate political bargains in Thailand are struck over ERP rather than NRP. Moreover, protection tends to be granted to industries that have a high level of industry concentration and are experiencing increased import competition. The relatively open foreign investment policy regime in Thailand means that policymakers are more responsive to requests made by foreign investors, including requests for tariff cuts. The decision to grant protection to Thai industries is justified on the basis of the ability of industries to generate employment and backward linkage to the rest of the economy.
PRICE AND EFFICIENCY EFFECTS OF TAXES AND SUBSIDIES FOR AUSTRALIAN HOUSING
Authors: ABELSON PETER , JOYEUX ROSELYN
Published: April 2010

This paper quantifies the major subsidies and taxes that affect housing, the impacts on house prices and housing consumption, and the efficiency effects. Private housing receives an estimated net subsidy of $6.3 billion per annum. Most of this subsidy accrues to homeowners, who as a group receive about an 8% subsidy on imputed gross rentals. The rental sector receives a subsidy of approximately 0.4% of rents. On plausible (unitary elasticity) demand and supply assumptions, the homeowner subsidy increases all housing prices by about 2% and total housing consumption by about 2%, with the rise in consumption by home owners more than offsetting the fall in consumption by renters. The housing subsidy produces an estimated deadweight loss from expenditure on renovations of about $100 million per annum. However, contrary to previous work, the paper finds that the housing subsidy produces welfare gains from expenditure on new housing in the order of $187 million a year. This arises because the subsidy offsets the over‐regulated supply of new housing. Transaction taxes on housing have a separate deadweight loss of $375 million per annum. Also, the unequal treatment of homeowners and renters creates a small annual deadweight loss.
DOES THE STOCK MARKET ACT AS A SIGNAL FOR REAL ACTIVITY? EVIDENCE FROM AUSTRALIA
Authors: MAO YAJUAN , WU RONGFU
Published: April 2010

Binswanger (2000) concluded that traditional links between stock market performance and two major macroeconomic indicators, production and GDP, broke down in the most recent US bull market. Australia's stock market also took off in the early 1980s and the objective of the present paper is to contribute to the literature on the connection between the stock market and real economic activity, using Australian data. The study finds that, unlike the US, the links between stock prices and industrial production or GDP remained strong during the high‐growth phase in Australia. However, this relationship breaks down in periods of slower economic growth with contradictory empirical results for different macroeconomic indicators. The paper concludes that increasing globalisation is the most plausible explanation for this phenomenon.
THIRD‐PARTY ACCESS TO INFRASTRUCTURE: THE CASE OF THE MT NEWMAN RAIL LINE IN THE PILBARA
Authors: KOSHY PAUL , KENYON PETER
Published: April 2010

Australia is continuing to develop a legal and administrative framework for facilitating third party access to important infrastructure. This paper examines the workings of the organisation charged with assessing requests for access—the National Competition Council—in the context of the Council's Final Recommendation on an application by the Fortescue Metals Group for access to the Mt Newman Rail Line, owned and operated by BHP Billiton Iron Ore. The discussion draws on submissions to the Council and the recent literature on rail access in order to critique this decision. It concludes by observing that further research is needed to develop a methodology for a more formal approach to determining certain key questions.
ABOUT TURN: POLICY REVERSALS AND THE QUEENSLAND LOCAL GOVERNMENT REFORM COMMISSION
Authors: DOLLERY BRIAN , WALLIS JOE , CRASE LIN
Published: April 2010

In common with other Australian local government systems, Queensland local councils have experienced acute financial and other problems. In a collaborative attempt to address these problems, in 2005 the Queensland state government and the Local Government Association of Queensland (LGAQ) embarked on a Size, Shape and Sustainability (SSS) program to evaluate the sustainability of local councils and provide solutions to the problems the process was designed to unearth. The SSS process was hailed as the best example of voluntary cooperation between state authorities and local councils in the history of Australian local government reform. However, after almost two years, in a shock announcement on 17 April 2007 the Queensland Government unilaterally terminated the SSS program and established a Reform Commission to recommend a forced amalgamation across the state. This paper provides a critical appraisal of this drastic policy reversal by considering the official rationale for the ‘U‐turn’ and the formal response of the LGAQ to the turnaround in the light of broader trends in Australian local government.
IMPLEMENTING BEST PRACTICE REGULATION IN A DYNAMIC MARKETPLACE: CONSULTATION AND ACCOUNTABILITY
Authors: SIMES RIC , HARPER IAN , GREEN HUGH
Published: April 2010

The practice of financial regulation in Australia has drifted away from the lighted‐handed principles articulated in the Wallis Report. The burden of regulatory compliance has steadily grown. The inconsistency between regulatory principle and practice is explained as the result of perverse incentives facing regulators, an absence of effective consultation with industry regarding the cost burden of regulation, and a failure to properly assess the social benefits and costs of regulatory intervention. The paper argues for the creation of a Bureau of Financial Sector Regulation to improve the accountability of regulators and publish independent social cost–benefit analyses of financial regulation. The paper also calls for a further inquiry into Australia's financial system ten years on from the Wallis Inquiry.
DEVELOPING A GLOBALLY‐COMPETITIVE FINANCIAL SERVICES SECTOR: MANAGING THE TENSION BETWEEN INNOVATION AND REGULATION THROUGH SELF‐REGULATION
Authors: PEARSON GAIL , ELLIOT STEVE
Published: April 2010

Financial regulation needs to facilitate continuing innovation by local financial institutions operating in a global market, while ensuring a healthy and robust local market. This paper examines the role that effective self‐regulation plays in achieving these objectives. It identifies some weaknesses in the current arrangements and provides suggestions for improvements.
MEASURING REGULATION AND REGULATORY PERFORMANCE: BENCHMARKING THROUGH KEY PERFORMANCE INDICATORS
Authors: O'BRIEN JUSTIN
Published: April 2010

The Australian Securities and Investments Commission has embarked on a strategic mission to ‘embed’ business integrity. Five key priorities have been identified: (1) a focus on outcomes; (2) the development of initiatives to help retail investors manage and protect wealth; (3) the introduction of new investigative techniques to reduce systemic problems; (4) the reduction of red tape in the administrative function; and (5) the facilitation of inward and outward investment. These are enveloped within a wide‐ranging strategic review. The review may succeed in reconstituting the parameters of capital‐market regulation. Its success, however, will be dependent on whether the agency can align the ethos of market participants with its conception of integrity.
IN THE SHADOW OF THE CHINA‐AUSTRALIA FTA NEGOTIATIONS: WHAT AUSTRALIAN BUSINESS THINKS ABOUT IP
Authors: LEAHY ANNE , MACLAREN DONALD , MORGAN DAVID , WEATHERALL KIMBERLEE , WEBSTER ELIZABETH , YONG JONGSAY
Published: April 2010

This study collated responses from a survey of over 2,100 businesses across Australia to assess the extent of both their business dealings with China and their commercial interest in Intellectual Property (IP). We found that 9% of firms had business dealings with China but since these are disproportionately large firms, they accounted for 40% of business sales in Australia. Among these businesses, IP issues (registration, examination and enforcement) are of less concern than Chinese regulations and legal transparency. Among the IP issues covered in the survey, IP enforcement poses the greatest problem for Australian businesses.
AUSTRALIA‐CHINA FREE TRADE AGREEMENT: CAUSAL EMPIRICS AND POLITICAL ECONOMY
Authors: VAN HOA TRAN
Published: April 2010

The launch of negotiations for an Australia‐China free trade agreement (ACFTA) started on 18 April 2005, following completion of the joint feasibility study that showed substantial economic and trade benefits for the two countries. The paper reassesses these benefits by means of an empirical analysis with a view to providing improved inputs for informed debate on the benefits and costs of an ACFTA from the perspective of Australia and China. The implications of the findings for policy uses are also discussed.
A CHINESE PERSPECTIVE ON THE CHINA‐AUSTRALIA FREE TRADE AGREEMENT AND POLICY SUGGESTIONS
Authors: CHENG DAWEI
Published: April 2010

This article provides an analysis of the potential economic effects of the China—Australia free trade agreement, and provides a set of policy recommendations regarding such an agreement. The article begins with a review of China—Australia trade relations, showing the widening gap in the importance of one country relative to the other. Next, the article examines the competitive advantages of China and Australia in trade by way of local revealed comparative advantage (RCA) and finds that trade between China and Australia is predicated on differences in their factor endowments. The study then investigates the main problems in the negotiations for the China—Australia Free Trade Agreement and concludes with a set of policy suggestions.
A STUDY ON FINANCIAL SERVICE TRADE BETWEEN AUSTRALIA AND CHINA
Authors: FENGJUAN XIAO , TURNER LINDSAY
Published: April 2010

This article analyses the current position and potential problems in the Australia—China financial service trade. The world's financial service trade is underdeveloped compared with world merchandise trade. Similarly, the Australia—China financial service trade is also underdeveloped compared with bilateral merchandise trade. The major reasons lie with the late development of bilateral financial service trade, weak promotion by the Australian Government and China's immature legal and market system. The conclusion offers suggestions on how both sides might achieve success in the area of financial service trade in the negotiation of a bilateral free‐trade agreement.
DISORDER WITH LAW: A PRELIMINARY STUDY OF VIOLENCE IN RESPONSE TO WATER RIGHTS VIOLATION IN COLONIAL NEW SOUTH WALES
Authors: HARRIS EDWYNA
Published: April 2010

Scholars argue that violence will not occur in the presence of efficient property rights institutions. Empirical evidence from the Riverina district in New South Wales between 1855 and 1870 contradicts this claim. This paper provides a preliminary analysis of evidence to explain this apparent inconsistency. Violence was directed at upstream users who dammed rivers, preventing flow to downstream users. Evidence suggests violence was a form of social control referred to as self‐help employed to enforce conventions of fairness. Dams were perceived as unfair because they reduced the distributive equity embodied in the common law of riparian rights that established water‐use rules to allocate water between competing users. Violence in the form of dam destruction occurred primarily during drought years and was the preferred over common law remedies because of the lag time between seeking court intervention and obtaining a remedy. Coasean bargaining was not possible because of high transaction costs. The findings suggest that violence may occur in the presence of efficient property rights institutions if actors violate conventions of fairness. Violence may be more likely if property rights themselves embody these conventions.
THE HOWARD‐TURNBULL NATIONAL PLAN FOR WATER SECURITY OF JANUARY 2007: RESCUE OR REJECTION?
Authors: WATSON ALISTAIR
Published: April 2010

A ten‐point, ten‐year, ten billion dollar National Plan for Water Security was announced by the (then) Howard Government in January 2007. The Plan was supported by State governments, with the exception of Victoria. The (then) Opposition supported legislation in August 2007 to implement the Plan. The main part of the Plan was investment in off‐farm and on‐farm irrigation infrastructure, ostensibly to promote water use efficiency. A smaller programme was proposed for buyback of irrigation water for environmental purposes. Various economic criteria would favour the opposite emphasis. Investment by governments in private irrigation infrastructure goes against the spirit of other recent policy changes and, for economic and technical reasons, is unlikely to achieve its objectives. Buyback for environmental purposes should continue, subject to appropriate procedures and discipline in the selection of environmental projects. Recent developments highlight continuing controversies over policy and administration of the Murray‐Darling Basin.
DEFINING AND MANAGING ENVIRONMENTAL FLOWS: INPUTS FROM SOCIETY
Authors: BENNETT JEFF
Published: April 2010

Two key questions regarding the management of Australia's riverine environments are addressed: how much water should be allocated for environmental flows; and how should water entitlements for environmental flows be acquired and managed. First, an application of the choice modelling technique in the context of River Red Gum forests along the River Murray is used to demonstrate how the marginal values of water for the environment can be estimated for comparison against prices paid by extractive users of water. Second, mechanisms in the public and private sectors for the purchase of environmental water are contrasted.
AUSTRALIAN EARLY RETIREMENT TAX BIASES PRIOR TO JULY 2007 AND THE LIKELY EFFECTS OF TAX REFORM ON RETIREMENT PLANS
Authors: FELMINGHAM BRUCE , JACKSON NATALIE , WALTER MAGGIE , YAN YONG HONG
Published: April 2010

We develop a simulation model explaining the accrual of retirement wealth gained from working one year beyond retirement and from this calculate an implicit tax rate on the additional year's work. We find that the pre‐July 2007 Australian tax on retirement benefits was biased in favour of ages 59 and less, while the implicit rate was positive on retirement past 59. We also use the results of a national survey of 2,500 households (ASRAM SURVEY) to determine the likely response to the tax changes implemented in July 2007 and find that half those sampled are either very likely or likely to change their expected retirement dates in response to the tax changes.
EXAMINING THE BEHAVIOUR OF VISITOR ARRIVALS TO AUSTRALIA FROM TWENTY DIFFERENT COUNTRIES: AN APPLICATION OF PANEL UNIT ROOT TESTS
Authors: NARAYAN PARESH KUMAR , PRASAD ARTI
Published: April 2010

Testing for the behaviour of visitor arrivals has important implications for policy, for if visitor arrivals are stationary processes then it implies that shocks to visitor arrivals are transitory. However, if visitor arrivals are found to be characterised by a unit root then this implies that shocks to visitor arrivals are permanent. In this paper we provide the first evidence on the unit root hypothesis for visitor arrivals to Australia using a suite of recently developed panel unit root tests. Our main finding is that visitor arrivals to Australia from twenty tourist source markets and from the G7 markets are mean reverting, implying that any shocks will have only a transitory effect. However, visitor arrivals from eight Asian countries are characterised by a unit root, implying that shocks will have a permanent effect on this market.
FUEL WATCH: EVIDENCE‐BASED‐POLICY OR POLICY‐BASED‐EVIDENCE?
Authors: HARDING DON
Published: April 2010

Experience from the United Kingdom and the United States suggests that expert evidence is often reshaped and repackaged by governments so that it supports existing policy rather than informing policy decisions. The Australian Government based its decision to introduce FuelWatch on evidence in the form of econometric work by the ACCC. This paper asks two questions about that decision. First, was the policy shaped by the econometric evidence or was the Government's presentation of the evidence shaped by the pre‐determined policy? Second, is the econometric evidence sufficiently robust as to support the FuelWatch policy? I find that some of the facts suggest that evidence was reshaped and repackaged to support the FuelWatch policy. I also find that the ACCC analysis was not robust. Specifically, they studied the nominal retail margin when economic theory suggests that analysis should focus on the real retail margin to producers. Using data digitized from a graph in the ACCC Report I redo the econometric analysis and find that the evidence no longer unambiguously supports the FuelWatch policy. The ACCC claim that their analysis is robust because it has been subject to scrutiny within the ACCC and by Treasury but such claims of robustness cannot be verified because they refuse to release the data for public scrutiny. Publication of data and analysis underpinning government decisions and independent review of econometric work provides a more credible evidence base for future policy decisions.
IS THE DECLINE IN THE FREQUENCY OF DRAWS IN TEST MATCH CRICKET DETRIMENTAL TO THE LONG FORM OF THE GAME?
Authors: LENTEN LIAM J. A.
Published: April 2010

The frequency of draws in test cricket has declined noticeably in the last fifteen years. This has been brought about by changes in the style of the 5‐day game, coupled with several rule changes designed to extend time played. While many believe this to be good for the game, a contrary argument advanced here suggests that too many Tests are finishing excessively early, and hence are more predictable. Regression results indicate that rising run rates and rising average wickets per Test have some explanatory power over the frequency of draws, but the rule changes have also played a big part. This is one issue (of several) that administrators must address to ensure that the oldest and purest form of the game is able to continue to compete for consumer interest with shorter forms of the game in the future.
MEASURING THE EQUITY BURDEN IN PUBLIC SERVICE PROVISION: THE CASE OF NEW JERSEY TOLL ROADS
Authors: PETERS JONATHAN , GORDON CAMERON
Published: April 2010

Economic theory recognises equity dimensions of social welfare as well as efficiency issues. This paper examines three measures of equity—horizontal, vertical and locational—analysing data from the toll collections on the New Jersey Turnpike and Garden State Parkway. Policy implications are provided.
The Effect of Under-Reaming on the Cup/Bone Interface of a Press Fit Hip Replacement
Authors: Zivkovic I. , Gonzalez M. , Amirouche F.
Published: April 2010

This paper explores the effect of under-reaming on micromotion at the cup/bone interface of a press-fit acetabular cup. A cadaver experiment was performed on 11 acetabuli implanted with a cementless acetabular cup. The loading profile simulated hip impingement at the extremes of motion and subluxation relocation of the hip joint. Micromotion of each cup was measured in a custom made jig with linear variable differential transducers. A CAT scan and DEXA scan of the acetabulum and femoral head respectively were used to construct a three-dimensional patient specific finite element model of the hemi-pelvis. The model predicted cup micromotion under loading conditions and stresses in the acetabulum as a result of cup insertion. Micromotion was then calculated as a function of variable bone density and variable degree of underreaming. Simulated cup insertion with under-reaming of 2 mm or more approached or exceeded the yield strength of bone in acetabula with reduced bone mass density.
In Situ Deformations in the Immature Brain During Rapid Rotations
Authors: Ibrahim Nicole G. , Natesh Rahul , Szczesny Spencer E. , Ryall Karen , Eucker Stephanie A. , Coats Brittany , Margulies Susan S.
Published: April 2010

Head trauma is the leading cause of death and debilitating injury in children. Computational models are important tools used to understand head injury mechanisms but they must be validated with experimental data. In this communication we present in situ measurements of brain deformation during rapid, nonimpact head rotation in juvenile pigs of different ages. These data will be used to validate computational models identifying age-dependent thresholds of axonal injury. Fresh 5 days (n=3) and 4 weeks (n=2) old piglet heads were transected horizontally and secured in a container. The cut surface of each brain was marked and covered with a transparent, lubricated plate that allowed the brain to move freely in the plane of rotation. For each brain, a rapid (20–28 ms) 65 deg rotation was applied sequentially at 50 rad/s, 75 rad/s, and 75 rad/s. Each rotation was digitally captured at 2500 frames/s (480×320 pixels) and mark locations were tracked and used to compute strain using an in-house program in MATLAB. Peak values of principal strain (Epeak) were significantly larger during deceleration than during acceleration of the head rotation (p<0.05), and doubled with a 50% increase in velocity. Epeak was also significantly higher during the second 75 rad/s rotation than during the first 75 rad/s rotation (p<0.0001), suggesting structural alteration at 75 rad/s and the possibility that similar changes may have occurred at 50 rad/s. Analyzing only lower velocity (50 rad/s) rotations, Epeak significantly increased with age (16.5% versus 12.4%, p<0.003), which was likely due to the larger brain mass and smaller viscoelastic modulus of the 4 weeks old pig brain compared with those of the 5 days old. Strain measurement error for the overall methodology was estimated to be 1%. Brain tissue strain during rapid, nonimpact head rotation in the juvenile pig varies significantly with age. The empirical data presented will be used to validate computational model predictions of brain motion under similar loading conditions and to assist in the development of age-specific thresholds for axonal injury. Future studies will examine the brain-skull displacement and will be used to validate brain-skull interactions in computational models.
Simulation of Portal Hemodynamic Changes in a Donor After Right Hepatectomy
Authors: Ho Cheng-Maw , Lin Reui-Kuo , Tsai Shun-Feng , Hu Rey-Hen , Liang Po-Chin , Sheu Tony Wen-Hann , Lee Po-Huang
Published: April 2010

Remnant livers will be regenerated in live donors after a large volume resection for transplantation. How the structures and hemodynamics of portal vein will evolve with liver regeneration remains unknown. This prompts the present hemodynamic simulation for a 25 year-old man who received a right donor lobectomy. According to the magnetic resonance imaging/computed tomography images taken prior to the operation and one month after the operation, three sequential models of portal veins (pre-op, immediately after the operation, and one-month post-op) were constructed by AMIRA® and HYPERMESH®, while the immediately after the operation model was generated by removing the right branch in the pre-op model. Hemodynamic equations were solved subject to the sonographically measured inlet velocity. The simulated branch velocities were compared with the measured ones. The predicted overall pressure in the portal vein after resection was found to increase to a magnitude that has not reached to an extent possibly leading to portal hypertension. As expected, blood pressure has a large change only in the vicinity of the resection region. The branches grew considerably different from the original one as the liver is regenerated. Results provide useful evidence to justify the current computer simulation.
Validation of Cartilage Thickness Calculations Using Indentation Analysis
Authors: Koff Matthew F. , Chong Le Roy , Virtue Patrick , Chen Dan , Wang Xioanan , Wright Timothy , Potter Hollis G.
Published: April 2010

Different methods have been used to cross-validate cartilage thickness measurements from magnetic resonance images (MRIs); however, a majority of these methods rely on interpolated data points, regional mean and/or maximal thickness, or surface mean thickness for data analysis. Furthermore, the accuracy of MRI cartilage thickness measurements from commercially available software packages has not necessarily been validated and may lead to an under- or overestimation of cartilage thickness. The goal of this study was to perform a matching point-to-point validation of indirect cartilage thickness calculations using a magnetic resonance (MR) image data set with direct cartilage thickness measurements using biomechanical indentation testing at the same anatomical locations. Seven bovine distal femoral condyles were prepared and a novel phantom filled with dilute gadolinium solution was rigidly attached to each specimen. High resolution MR images were acquired, and thickness indentation analysis of the cartilage was performed immediately after scanning. Segmentation of the MR data and cartilage thickness calculation was performed using semi-automated software. Registration of MR and indentation data was performed using the fluid filled phantom. The inter- and intra-examiner differences of the measurements were also determined. A total of 105 paired MRI-indentation thickness data points were analyzed, and a significant correlation between them was found (r=0.88, p<0.0001). The mean difference (±std. dev.) between measurement techniques was 0.00±0.23 mm, with Bland–Altman limits of agreement of 0.45 mm and −0.46 mm. The intra- and inter-examiner measurement differences were 0.03±0.22 mm and 0.05±0.24 mm, respectively. This study validated cartilage thickness measurements from MR images with thickness measurements from indentation by using a novel phantom to register the image-based and laboratory-based data sets. The accuracy of the measurements was comparable to previous cartilage thickness validation studies in literature. The results of this study will aid in validating a tool for clinical evaluation of in-vivo cartilage thickness.
Mechanical Modeling of Red Blood Cells During Optical Stretching
Authors: Tan Youhua , Sun Dong , Huang Wenhao
Published: April 2010

Mechanical properties of red blood cells (RBCs) play an important role in regulating cellular functions. Many recent researches suggest that the cell properties or deformability may be used as a diagnostic indicator for the onset and progression of some human diseases. Although optical stretcher (OS) has emerged as an effective tool to investigate the cell mechanics of RBCs, little is known about the deformation behavior of RBCs in an OS. To address this problem, the mechanical model proposed in our previous work is extended in this paper to describe the mechanical responses of RBCs in the OS. With this model, the mechanical responses, such as the tension distribution, the effect of cell radius, and the deformed cell shapes, can be predicted. It is shown that the results obtained from our mechanical model are in good agreement with the experimental data, which demonstrates the validity of the developed model. Based on the derived model, the mechanical properties of RBCs can be further obtained. In conclusion, this study indicates that the developed mechanical model can be used to predict the deformation responses of RBCs during optical stretching and has potential biomedical applications such as characterizing cell properties and distinguishing abnormal cells from normal ones.
Experimental Investigation of the Flow of Bile in Patient Specific Cystic Duct Models
Authors: Al-Atabi Mushtak , Chin S. B. , Luo X. Y.
Published: April 2010

Three-dimensional scaled-up transparent models of three human cystic ducts were prepared on the basis of anatomical specimens. The measurement of pressure drop across the cystic duct models and visualization of the flow structures within these ducts were performed at conditions replicating the physiological state. The flow visualization study confirmed the laminar nature of the flow of bile inside the cystic duct and values of pressure drop coefficient (Cp) decreased as the Reynolds number (Re) increased. The three tested models showed comparable behavior for the curve of Reynolds number versus the pressure drop coefficient. The results show that the tested cystic ducts have both increased pressure drop and complicated flow structures when compared with straight conduits. High resistance in a cystic duct may indicate that the gallbladder has to exert large force in expelling bile to the cystic duct. For patients with diseased gallbladder, and even in healthy persons, gallbladder is known to stiffen with age and it may lose its compliance or flexibility. A high resistance cystic duct coupled with a stiffened gallbladder may result in prolonged stasis of bile in the gallbladder, which is assumed to encourage the formation of gallstones.
Mechanism of Interior Ballistic Peak Phenomenon of Guns and Its Effects
Authors: Tao Chenli , Zhang Yurong , Li Sanqun , Jia Changzhi , Li Yongjian , Zhang Xifa , He Zhengjia
Published: April 2010

The erosion and wear in the gun barrel will get worse with an increase in the number of projectiles fired. Generally speaking, the ballistic performance of the gun, measured through indicators such as the maximum pressure pm and the muzzle velocity v0, will decrease gradually due to gun barrel erosion. However, the above analysis does not agree with the firing test data of certain types of guns, especially of some small-caliber guns. The ballistic performance of such guns will exhibit an increase to their peak values followed by a gradual decrease with the number of rounds fired. This is the so-called interior ballistic peak phenomenon, also named as the hump effect. Taking several kinds of guns as examples, such as a 76 mm gun and a 100 mm gun, we calculated the engraving pressure p0 of the guns by an approximate method and built a lumped-parameter interior ballistic model of the guns that exhibits the effect, according to the interior ballistics theory of guns with erosion and wear. The results of the modeling of the guns under different wear conditions are close to the test data, showing the existence of the peak values of pm and v0. The simulation results of some of the other guns that exhibit this phenomenon also show good agreement. Furthermore, it can explain the double-peak phenomenon for some types of guns with double driving bands. It was proven that the mismatch of the structure and the dimensions of the gun bore with those of the projectile driving band is the fundamental cause of this effect. Due to the mismatch, the engraving pressure will first increase and then decrease with the enlargement of the bore dimensions caused by barrel erosion and wear. The variation in the engraving pressure p0 will inevitably lead to the variation in interior ballistic performance in the life cycle of the gun. This observed process appears to explain the interior ballistic peak phenomenon.