Browsing AUT School of Economics by Issue Date
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- ItemIs the US demand for money unstable?(Taylor & Francis (Routledge), 2011) Rao, BB; Kumar, SThe demand for money (M1) for the USA is estimated with annual data from 1960-2008 and its stability is analyzed with the extended Gregory and Hansen (1996b) test. In addition to estimating the canonical specification, alternative specifications are estimated which include a trend and additional variables to proxy the cost of holding money. Results with our extended specification showed that there has been a structural change in 1998 and the constraint that income elasticity is unity could not be rejected by subsample estimates. Short run dynamic adjustment equations are estimated with the lagged residuals from the fully modified OLS (FMOLS) estimates of cointegrating equation and also with the general to specific approach (GETS).
- ItemLevers of job satisfaction: participative decision making and individual characteristics(Association of Industrial Relations Academics of Australia and New Zealand (AIRAANZ), 2011-02-04) Pacheco, GA; webber, DThis paper demonstrates that the determinants of job satisfaction do not change if the worker has decision making freedom and that the impact of some individual characteristics on job satisfaction follow interesting patterns as we move through occupational statuses.
- ItemCo-integration and the demand for energy in Fiji(Inderscience Enterprises Ltd., 2011-05-09) Kumar, SThis paper applies alternative time series techniques such as general to specific (GETS) and Johansen maximum likelihood (JML) to estimate the long-run income and price elasticities of demand for energy for Fiji. We also test for the causal relationship between energy consumption, GDP and energy prices using the Granger causality tests. Our results imply that there is a uni-directional causality running from GDP to energy consumption.
- ItemQuitting behaviour in good (and bad) work places(Auckland University of Technology (AUT), 2011-06-21) Markey, R; Pacheco, GA; Ravenswood, K; Webber, DJThis paper argues that the decision to quit is strongly influenced by employee perceptions of the quality of the work environment (QWE), and that ignoring QWE can lead to incorrect conclusions concerning the influence of other factors on the quitting decision. However, our empirical results also illustrate that some of the antecedents of quitting, namely high levels of stress, gaining information about important decisions and changes, and changes in job satisfaction, are only significant if the overall QWE is perceived to be good; if the QWE is perceived to be bad then these factors appear to have no significant influence on the quitting intention of the worker. This paper contributes to the literature through a work environment approach to understanding the complexities of the quitting decision.
- ItemA typology of service supply chain strategies - pathways between agility and efficiency(Australia New Zealand Academy of Management (ANZAM), 2012) Wood, LC; Reefke, H; Breidbach, CFVarious service supply chain strategies may provide firms with competitive advantage, providing appropriate pathways between different configurations are identified. Using a case study and a theory building process, we illustrate a configuration and movement in a typology of service supply chains. We explain how the framework aids analysis of current and future positions and the strategic implications for service supply chains. A key principle of the framework is the distinction between novelty, or frequency, of mismatches between information-as-input and service requirements, and the analysability of the challenge, or the level of difficulty in identifying and acquiring appropriate input information.
- ItemCan India plug into Asian international production networks through RTAs?(Murdoch University, 2013) Sen, R; Srivastava, S; Badri Narayanan, GRecent literature has focused attention on the important question of whether the current trend of proliferation of bilateral and regional trade agreements can facilitate creation and development of international production networks (IPNs) among member countries. However, majority of these adopt a partial equilibrium approach, thus ignoring the economy wide impact. As India gets increasingly integrated through calibrated globalization of its economy over the past two decades and creates a web of such trade agreements, this paper attempts to specifically analyze the effect of recent RTAs involving India on its ability to plug into IPNs in Asia by changing international trade and production patterns. The auto-parts industry, identified as one of the high-growth sectors for India’s manufacturing sector, with a potential to integrate into existing Asian IPNs, is chosen for this analysis. The paper reviews the current state of India’s participation in Asian IPNs identifying the policy challenges, and further undertakes an applied general equilibrium analysis of the above issue by utilizing the GTAP 8 database based on 2004 data to simulate the impact of tariff reduction in auto-parts for India’s currently implemented FTAs with ASEAN, Japan, Korea and EU. Additional scenarios of a productivity improvement along with reduction in trade costs along with the RTA, are also explored. The paper analyses the impact of these policy shocks on output, prices and trade volumes ,as well as their impact on overall welfare changes across all regions. The results point to the evidence that India that there are significant gains for India and its trading partners through export expansion and welfare improvements from better resource allocation not from an RTA alone, but from productivity improvement and reductions in trade costs as this should not only reduce border trade costs, but also network costs set up for an IPN.
- ItemEstimating the cost of youth disengagement in Auckland(Dept. of Economics, AUT University, 2013-04-17) Pacheco, GA; Dye, JThere has been growing interest in recent years in the labour market issues that youth face. Youth exclusion, disengagement, and overall underutilisation in the labour market has short term costs to the economy, as well as long term impacts on society. The consequences range from reduced economic productivity to increased criminal activity. We document a rise in the number of NZ youth classified as not in employment, education or training (i.e. NEET). This trend signals increasing difficulties for young people making the transition from education into the labour market. In this report we project the loss to productivity, measured in foregone wages, and the expected cost to public finances for Auckland and NZ NEET as at December 2012. We focus on youth aged 15-24 years, and where data are available report separately for 15-19 and 20-24 year olds. We find the expected per capita cost of each NEET youth aged 15-24 in the Auckland cohort to be approximately $28,981 over the next 1-3 years. The estimated cost is slightly higher than comparable costs for the aggregate group of NZ NEET, due largely to the higher foregone wages of Auckland NEET. Disaggregating our analysis by ethnicity, we find that Auckland NEET youth of Maori and Pacifica descent are associated with a relatively high per capita cost at roughly $33,634 and $26,629 respectively, compared to the analogous figure for their NZ European counterparts of $22,301 (all figures represent the estimated cost over the next 1-3 years). It appears that the difference is a result of the greater propensity of Maori and Pacific Peoples to disengage from the education system earlier, to withdraw from the work force due to caregiving responsibilities at a younger age, and to experience longer durations of unemployment than their NZ European counterparts. The sizeable estimated costs associated with NEET youth highlight the urgent need for policy intervention directed at improving transitions from NEET status to the workforce or further education / training. It should also be noted that these estimated costs are conservative in nature, and do not include expected costs that are difficult to quantify or attribute proportionally to NEET versus non-NEET status, e.g. impact on criminal activity, depression, substance abuse, psychological distress, etc.
- ItemA literature review on the effects of living wage policies(Auckland Council, 2013-07-01) Maloney, TJNo abstract.
- ItemExtrinsic versus intrinsic motivation: does major choice make a difference?(New Zealand Association of Economists, 2013-07-03) Hedges, M; Pacheco, GA; Webber, DPrior literature emphasises supply side issues concerning the modularisation of university programmes such as curricula issues and enhanced learning opportunities. Comparatively little is known about the demand side, such as why students choose specific modules. This article presents an investigation that was specifically designed to improve understanding of the factors that contribute to student module choices and draws on a large primary dataset comprised of students following a wide range of majors at a new university business school. The dataset allows for differences between the relative importance of extrinsic and intrinsic motivations between majors to be identified and some implications of this to be discussed.
- ItemDemand in New Zealand hospitals: expect the unexpected?(New Zealand Association of Economists, 2013-07-04) Jiang, N; Pacheco, GAThe health care sector in New Zealand has undergone substantial structural reform since 1983, and stands out relative to other OECD countries, in that it has a relatively low per capita health expenditure, and a high share of public funding. Efficient allocation of resources to accommodate local needs in this community-oriented and public dominant model of the health care system is paramount. This paper employs the National Minimum Dataset from 2007 to 2011 to construct an empirical model aimed at predicting hospital demand. We formulate an easy to implement approach that can be used at the national level, as well as for individual District Health Boards (DHBs) that are regionally defined, and can also be disaggregated by category of patient, e.g. acute care versus elective admissions. We find the use of lagged information in this model to be vital, and by contrasting expected and actual demand, we then evaluate variations in excess demand. We find evidence that suggests in low risk elective cases, unexpected demand significantly reduces an individual’s hospital stay, and increases the likelihood of acute readmission in 30 days. Additionally, the cumulative evidence presented points to excess demand at both the hospital level and within-disease chapter, resulting in more attention paid to high risk patients, to the detriment of low risk cases. The negatively and significant association between hospital stay and readmission in 30 days for low risk cases may prompt policy makers to consider a ‘reduction in readmission program’ for New Zealand.
- ItemStudents’ perceptions on using blogs for reflective learning in higher educational contexts(The Higher Education Research and Development Society of Australasia (HERDSA), 2013-07-05) Ali, I; Byard, K; Julich, S; Kommunuri, JIncreasingly, blogs are being used by educators in higher education for teaching and learning as they have numerous pedagogical benefits. This study describes and analyses the use of blogs as a private journal or e-portfolio for an assessment in a first year bachelor of business programme. Three hundred and fifty students answered an online questionnaire exploring their perceptions of blogs as an assessment tool, in particular ease of use and impact on learning and skills development. Students found numerous benefits of using blogs such as ease of submitting work, increased ownership of learning, and being able to check and improve their work on a regular basis. They also reported that the use of blogs provided flexibility in completing tasks, helped get feedback from lecturers, and increased the quality and quantity of their work. However, there was a lack of consensus on whether blog use improved writing ability of students, increased dialogue between students and lecturers or increased student interest in learning. The challenge for those contemplating using blogs for similar purposes is to ensure that students are provided with sufficient instructions, and constructive, timely feedback.
- ItemLong-term goals for the Auckland economy(Auckland Council, 2013-07-15) Logie, R; Maloney, TJNo abstract.
- ItemWhat determines students’ choices of elective modules?(University of Bristol, 2013-09-05) Hedges, M; Pacheco, GA; Webber, DPrior literature emphasises supply side issues concerning the modularisation of university programmes such as curricula issues and enhanced learning opportunities. Comparatively little is known about the demand side, such as why students choose specific modules. This article presents an investigation that was specifically designed to improve understanding of the factors that contribute to student module choices and draws on a large primary dataset comprised of students following a wide range of majors at a new university business school.
- ItemDoes Economic Integration Stimulate Capital Mobility? An Analysis of Four Regional Economic Communities in Africa(Elsevier, 2013-11-14) Kumar, S; Sen, R; Srivastava, SIt is well known that high levels of regional integration enable portfolio risk diversification and capital mobility. While there have been a number of empirical attempts to verify the presence of capital mobility using the Feldstein–Horioka (FH) approach, none of them to the best of our knowledge have explicitly examined capital mobility changes across regional economic groupings in Africa, analyzing sub-samples to compare effects of pre-versus post integration. Filling this gap in the literature, this paper analyzes how some major regional economic integration initiatives, such as SACU (South African Customs Union), UEMOA (West African Economic and Monetary Union), COMESA (Common Market for Eastern and Southern Africa) and ECOWAS (Economic Community of West African States)) have influenced capital mobility in their member countries. To estimate the investment and savings relationship, we use Pedroni's (2004) fully modified ordinary least squares (FMOLS) panel cointegration method, applying to a sample of 25 African countries for which annual data is available from 1960 to 2009. To assess robustness of our results, we also employ the fixed effects, random effects and Mark and Sul's (2003) dynamic OLS (DOLS) methods. Our findings suggest that international capital mobility has only slightly increased in the African countries due to these agreements.
- ItemFast decoding algorithms for coded aperture systems(Elsevier, 2014-08-01) Byard, KFast decoding algorithms are described for a number of established coded aperture systems. The fast decoding algorithms for all these systems offer significant reductions in the number of calculations required when reconstructing images formed by a coded aperture system and hence require less computation time to produce the images. The algorithms may therefore be of use in applications that require fast image reconstruction, such as near real-time nuclear medicine and location of hazardous radioactive spillage. Experimental tests confirm the efficacy of the fast decoding techniques.
- ItemBinary choice probabilities on mixture sets(School of Computer and Mathematical Sciences, Auckland University of Technology, 2014-11-28) Ryan, MExperimental evidence suggests that choice behaviour has a stochastic element. Much of this evidence is based on studying choices between lotteries – choice under risk. Binary choice probabilities admit a strong utility representation (SUR) if there is a utility function such that the probability of choosing option A over option B is a strictly increasing function of the utility difference between A and B. Debreu (1958) obtained a simple set of sufficient conditions on binary choice probabilities for the existence of a SUR. More recently, Dagsvik (2008) considered binary choices between lotteries and provided axiomatic foundations for a SUR in which the underlying utility function is linear (i.e., conforms with expected utility). Our paper strengthens and generalises Dagsvik’s result. We show that one of Dagsvik’s axioms can be weakened, and we extend his analysis to encompass choices between uncertain prospects, as well as various non-linear specifications of utility.
- ItemBinary choice probabilities on mixture sets(The Centre for Mathematical Social Sciences (CMSS), the University of Auckland, 2014-12-09) Ryan, MNo abstract.
- ItemThe regulation of direct-to-consumer advertising of pharmaceuticals in a managed care setting(John Wiley & Sons, 2015) Ryan, M; Vaithianathan, RWe analyze direct-to-consumer advertising (DTCA) in the prescription drug market, when a regulator imposes a fine for misleading advertisements (truth-in-advertising regulation) and doctors face pressure to contain prescribing costs. The efficacy of a drug is based on scientific evidence as well as on patient-specific characteristics. Patients do not possess information on either dimension of efficacy. Pharmaceutical firms observe the scientific data and use DTCA to convey this information to patients. Doctors observe both the scientific data and patient-specific characteristics, and provide treatment recommendations. We develop a model in which DTCA is followed by a doctor–patient signalling game. We show that truth-in-advertising regulation increases the credibility of DTCA and may increase both doctor–patient conflict and prescriptions for an expensive new drug—a market-stealing effect. Tighter regulation may encourage more DTCA, and may even encourage more false advertising.
- ItemDoes New Zealand Economics Have a Useful Past? The Example of Trade Policy and Economic Development(Department of Economics, Faculty of Business and Law, Auckland University of Technology, 2015) Brooke, G; Endres, A; Rogers, AWe examine the history of economic thought on trade policy in New Zealand from the 1920s to the early 1980s. The focus is upon the different doctrinal perspectives taken by academic economists in New Zealand. Throughout the period under review policymakers supported an inward-looking trade and development regime buttressed by extensive interventionist trade policy. Appeals to the employment argument for industrialization through import substitution lent their policies a veneer of economic respectability. Most economists were not persuaded; they railed against quantitative import controls, discriminatory tariffs and cumbersome export incentive schemes and they offered, in vain, some constructive alternatives relying on price signals rather than administrative rules. One of our main findings is that most of the early work exposited here anticipated the rent seeking explanation for the configuration of trade policy.
- ItemPension Saving Responses to Anticipated Tax Changes: Evidence From Monthly Pension Contribution Records(Auckland University of Technology (AUT), 2016-10-01) Skov, P; Kreiner, CTK; Leth-Petersen, SLPA Danish tax reform, decided in May 2009 and taking effect from the beginning of 2010, lowered the marginal tax rate on top bracket taxable income from 63% to 56%. Because contributions to pension accounts are tax deductible, the reform provided an incentive to increase pension contributions before the change in taxation. Using high frequency panel data, we document an increase in pension contributions in the second half of 2009 in response to the anticipated change in taxation, and that this led to an increase in total savings.