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Topics in human capital and taxation: effective tax rates on education, the heterogeneous human capital model and the impact of nominal rigidities in the tax systemAnderson, Glenn Michael, Economics, Australian School of Business, UNSW January 2007 (has links)
In this thesis I address several neglected issues relating to the theoretical and applied analysis of human capital and the impact of taxation. I begin with the problem of measuring the effective tax rate on human capital accumulation. I develop a forward-looking measure of the effective tax rate that is grounded in human capital theory, allowing for features that differentiate human capital formation from physical capital formation. These features include concavity of the earnings-investment frontier and adjustments in capital utilization through leisure. I argue that the few attempts that have been made to measure the effective tax rate on skill formation are either limited by the fact that they inherit assumptions applicable to the theory of the firm or have dubious theoretical foundations (Chapter Two). The new measure is used to derive the effective tax rate on human capital in 25 OECD countries, including Australia (Chapter Three). While there are numerous general equilibrium models which integrate nominal rigidities of one form or another, little attention has been devoted to nominal rigidities arising from partial indexation of income tax thresholds. No doubt one of the reasons for this gap in the literature is the difficulty associated with introducing a fully specified progressive tax regime into an applied general equilibrium model. I show that this hurdle can be overcome through a zero-profit condition for general equilibrium on the labour market. The condition is integrated into an aggregative model of the economy consisting of two sectors (consumption and education) and two factors of production (skilled and unskilled labour). Since skill formation is endogenous, the model allows us to reopen research into the optimal level of skill formation and the role of government (Chapter Four). An applied general equilibrium version of the model is used to evaluate the impact of recent tax reform proposals on skill formation (Chapter Five). A concluding chapter draws together these lines of enquiry with suggestions for future research (Chapter Six).
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Energy price modelling and risk managementKwok, Ho King Calvin, Actuarial Studies, Australian School of Business, UNSW January 2007 (has links)
This thesis focuses on the development of a forecasting model for short- to medium-term electricity spot prices, based on modelling the dynamics of the supply and demand functions. It is found that the equilibrium assumption frequently adopted in electricity price models does not always hold; to overcome this problem, a notional demand process derived from the market clearing condition is proposed. Not only is this demand process able to capture all the price-affecting factors in one variable, but it also allows the equilibrium assumption to be satisfied and a spot price model to be built, using any appropriate form of hypothetical supply function. In addition, this thesis presents a model for approximating and modelling the bid stacks by capturing the points that govern their shape and location. Integrating these two models provides a realistic model that has a mean absolute percentage error of approximately 19% and 24% for week- and month-ahead forecasts respectively, when applied to the New South Wales (NSW) half-hourly electricity spot prices. Additionally, the density forecasting evaluation method proposed by Diebold et al. (1998) is employed in the thesis to assess the performance of the model. Besides the development of a spot price model, a two-part empirical study is made of the prices of NSW electricity futures contracts. The first part of the study develops a method based on the principle of certainty equivalence, which enables the market utility function to be recovered from a set of futures market quotes. The method is tested with two different sets of simulated data and works as expected. However, it is unable to obtain useful results from the NSW market quotes due to the poor data quality. The second part uses a regression method to investigate the relationship between futures prices and the descriptive statistics of the underlying spot prices. The result suggests that futures prices in NSW are linear combinations of the median and volatility of the final payoff.
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Mobile data services adoption in New Zealand: future predictionsCosgrove, Steve January 2007 (has links)
The fast pace of development in the Mobile Data Services area means innovators have to remain vigilant to stay in the market. There is not time to undertake the usual market development cycles. As a consequence, researchers are looking at various ways to predict the adoption rate of a new product and ways to better forecast adoption in different niche contexts. Rogers’ (2003) provides a review of historical trends in innovation and diffusion studies, and the foundational (1962) model he developed. In the context of the most recent literature, it is found that Rogers’ generic model still works well, but variations built on his model need to be considered. In particular, the ‘Chasm’ model, developed by Moore (1999), adapts Rogers’s model to cope well with the 21st century business environment. Gilbert (2005) has taken the work of both Rogers and Moore and applied the learning to research into adoption rates and characteristics in cross-cultural situations. In New Zealand the past consumer behaviour when new mobile services have been introduced has shown a number of characteristics and specific problems. Vodafone New Zealand provides mobile services only and they now claim 54% market share (Vodafone 2005`). An early success was to significantly lower the cost of sending text messages (SMS), followed by promotion of that service to the teenage market sector. In contrast to the popularity of SMS, introduction of the WAP mobile Internet protocol was not successful in New Zealand, as was the case elsewhere. The failure is commonly attributed to a lack of services being offered to use the technology. Near the end of 2004 Telecom New Zealand launched a new product, branded ‘T3G’. Vodafone New Zealand released ‘Vodafone 3G’ during the middle of 2005. The technologies behind these products is generally called ‘3G Mobile’, or Third Generation Mobile technology. Operators in Singapore also have 3G networks, commissioned during 2004. Authors such as Salz et el (2004) find evidence to suggest that US network operators need to speed up the adoption of this technology to meet predicted demand. There are unique factors likely to affect in the New Zealand market. The OECD has repeatedly found evidence that broadband Internet adoption in New Zealand is lower than other countries. Introduction of 3G technology provides another way to access broadband Internet. The OECD indicates that pricing is one of the barriers to broadband adoption. Telephone companies will have to consider pricing 3G to appeal as an option to having a fixed Internet option. The key question to be addressed in this research is: Do the adoption intensions of New Zealanders match those of Malaysia and Singapore for expected data services use? A related question is: What other factors effect New Zealand's current relatively slow rate of adoption? Product positioning of mobile data products is going to become more critical, given that some telephone operators are ‘expecting to get 25% of revenues from mobile data within five years’ (Molony, 2001). This Thesis will provide information to assist Mobile Service Providers to predict adoption rates of new services. It will also provide a comparative reference for researchers in other countries to replicate the study, and contribute to an exciting body of international literature. The New Zealand market is characterised by high cost of broadband Internet in general (OECD, TUANZ, and others), proprietary knowledge capture, and regulation, but these issues do not stop research into the intensions of potential adopters. This thesis will fill part of that research void, by comparing emergent demand for mobile data with existing models, which have previously been used, to predict future demand. New Zealand has a reputation as an earlier adopter of new technologies (Min Economic Dev & others). This thesis will contribute evidence to indicate how New Zealanders plan to adopt mobile data services, and how intensions of adoption compare with parallel studies in Singapore, and other countries.
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Estimation of a lower bound for the cumulative incidence of failure of female surgical sterilisation in NSW: a population-based study.Churches, Timothy January 2007 (has links)
MPhilPH / Female tubal sterilisation, often referred to as "tubal ligation" but more often performed these days using laparoscopically-applied metal clips, remains a popular form of contraception in women who have completed their families. A review of the literature on the incidence of failure of tubal sterilisation found many reports of case-series and small clinic-based studies, but only a few larger studies with good epidemiological designs, most recently the US CREST study conducted during the 1980s and early 1990s. The CREST study reported a conditional (life-table) cumulative incidence of failure of 0.55, 0.84, 1.18 and 1.85 per 100 women at 1, 2, 4 and 10 years of follow-up respectively. The study described here estimated a lower bound for the incidence of tubal sterilisation failure in NSW by probabilistically linking routinely-collected hospital admission records for women undergoing sterilisation surgery to hospital admission records for the same women which were indicative of subsequent conception or which represented censoring events such as hysterectomy or death in hospital. Data for the period July 1992 to June 2000 were used. Kaplan-Meier and proportional-hazards survival analyses were performed on the resulting linked data set. The conditional cumulative incidence per 100 women at 1, 2 4 and 8 years of follow-up was estimated to be 0.74 (95% CI 0.68-0.81), 1.05 (0.97-1.13), 1.33 (1.23-1.42) and 1.51 (1.39-1.62) respectively. Forty percent of failures ended in abortion and 14% presented as ectopic pregnancies. Age, private health insurance status and sterilisation in a smaller hospital were all found to be associated with lower rates of failure. Strong evidence of time-limited excess numbers of failures in women undergoing surgery in particular hospitals was also found. The study demonstrates the feasibility of using linked, routinely-collected health data to evaluate relatively rare, long-term outcomes such as sterilisation failure on a population-wide basis.
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Petroleum and the pesoKoval, Igor Y., January 2007 (has links)
Thesis (M.S.)--University of Texas at El Paso, 2007. / Title from title screen. Vita. CD-ROM. Includes bibliographical references. Also available online.
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The term structure of interest rates and economic activity in South Africa /Shelile, Teboho. January 2006 (has links)
Thesis (M.Com. (Economic & Economic History)) - Rhodes University, 2007. / Thesis in partial fulfilment of the requirements for the degree Master of Commerce, Financial Markets in Department of Economics and Economic History.
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Essays on exchange rates and central bank credibility /Maneschiöld, Per-Ola, January 2002 (has links) (PDF)
Diss. Göteborg : Göteborgs universitet, 2002. / Härtill 4 uppsatser.
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The impact of exchange rate volatility on U.S. foreign direct investment in Latin AmericaMasten, Callye R. M. January 2008 (has links)
Thesis (M.S.)--University of Delaware, 2007. / Principal faculty advisor: Titus O. Awokuse, Dept. of Food & Resource Economics. Includes bibliographical references.
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Essays on money, inflation and asset pricesJones, Timothy Gordon, January 1900 (has links)
Thesis (Ph. D.)--University of Texas at Austin, 2008. / Vita. Includes bibliographical references.
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Monetary frameworks in developing countries : central bank independence and exchange rate arrangements /Maziad, Samar. January 2008 (has links)
Thesis (Ph.D.) - University of St Andrews, March 2008.
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