School of Economics Working Papers

A full list of all Economics Working Papers from 1975-present are published on the University of Sydney eScholarship Repository.

The School of Economics Working Papers series - in RePEc - can be found at:

Economics Working Papers

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Racial discrimination and white first name adoption: a field experiment in the Australian labour market Shyamal Chowdhury, Evarn Ooi, and Robert Slonim
Why has the U.S. economy stagnated since the Great Recession? Yunjong Eo and James Morley
The Role of Indonesia-ASEAN Trade in Achieving Food Security in Indonesia Dilip Dutta and Fajar Hirawan
The El Niño Southern Oscillation and Economic Growth in the Developing World Sarah C. Smith and David Ubilava
Housing Wealth and Fertility: Australian Evidence Kadir Atalay, Ang Li, and Stephen Whelan
The Bank of Mum & Dad – Intergenerational transfers and first-time homeownership in Australia Stephen Whelan
The Role of the Inflation Target Adjustment in Stabilization Policy Yunjong Eo and Denny Lie
Surfing a Wave of Economic Growth Thomas McGregor and Samuel Wills
Likelihood-Based Estimates of Household Consumption Insurance Arpita Chatterjee, James Morley and Aarti Singh
Nominal GDP Targeting with Heterogeneous Labor Supply James Bullard and Aarti Singh

A regime-switching stochastic volatility model for forecasting electricity prices

Oskar Knapik and Peter Exterkate

Reaffirming the Influence of Milton Friedman on U.K. Economic Policy 

Edward Nelson


The Effect of Economic Growth on a Society’s Informal Institutions: A Mixed Level Model Analysis Dilip Dutta and Nicholas Fearnley
The Role Of Informal Institutions On Economic Growth: A Panel Data Analysis Dilip Dutta and Nicholas Fearnley
Negotiating the Gender Wage Gap Katrien Stevens and Stephen Whelan

Household Indebtedness and Housing Prices in Australia

Kadir Atalay, Garry Barrett, Rebecca Edwards, and Chaoran Yu

A Framework for Testing the Equality Between the Health Concentration Curve and the 45-Degree Line

Mohamed Khaled, Paul Makdissi, Rami Tabri, and Myra Yazbeck

Avoiding Convictions: Regression Discontinuity Evidence on Court Deferrals for First-Time Drug Offenders

Michael Mueller-Smith and Kevin T Schnepel

The Effect of Changing Financial Incentives on Repartnering

Hayley Fisher and Anna Zhu

A Flexible Generalised Hyperbolic Option Pricing Model and its Special Cases

Claudia Yeap, Simon S. Kwok and S.T. Boris Choy

Conventional Contracts, Intentional Behavior and Logit Choice: Equality without Symmetry

Sung-Ha Hwang, Wooyoung Lim, Philip Neary and Jonathan Newton

Payoff Dependent Dynamics and Coordination Games

Sung-Ha Hwang and Jonathan Newton

Policy Evaluation with Interactive Fixed Effects

Mark K. Chan and Simon Kwok

The Role of El Niño Southern Oscillation in Commodity Price Movement and Predictability

David Ubilava

Loss Aversion and Competition in Vickrey Auctions: Money Ain't No Good

Antonio Rosato and Agnieszka A. Tymula

Expected Subjective Value Theory (ESVT): A Representation of Decision Under Risk and Certainty

Paul W. Glimcher and Agnieszka A. Tymula

Mental Health and Productivity at Work: Does What You Do Matter?

Melisa Bubonya, Deborah A. Cobb-Clark and Mark Wooden

Natural Assets: Surfing a Wave of Economic Growth

Thomas McGregor and Samuel Wills

Forecasting the Term Structure of Interest Rates with Potentially Misspecified Models

Yunjong Eo and Kyu Ho Kang

Bonus Babies? The Impact of Paid Parental Leave on Fertility Intentions


Micaela Bassford and Hayley Fisher

Watercooler Chat, Organizational Structure and Corporate Culture

Jonathan Newton, Andrew Wait and Simon D. Angus

Duplicative Search

Alexander Matros and Vladimir Smirnov

Parenting Style as an Investment in Human Development

Deborah A. Cobb-Clark, Nicholas Salamanca and Anna Zhu


The Value of a Healthy Home: Lead Paint Remediation and Housing Values

Stephen B. Billings and Kevin T. Schnepel

Leadership, Communication and Innovation

Roland Bel, Vladimir Smirnov and Andrew Wait

Technology, Team Production and Incentives

Vladimir Smirnov and Andrew Wait

The Impact of Child Support Receipt on Household Income and Labour Supply

Hayley Fisher

The Effect of Risk Sharing on Asset Prices: Natural Experiment from the Chinese Stock Market Liberalization


Marc K. Chan and Simon Kwok

Structural Changes in Inflation Dynamics:Multiple Breaks at Different Dates for Different Parameters

Yunjong Eo

Regulating greenhouse gas emissions by an intertemporal policy mix: An experimental investigation

Bernold, Elizabeth and Ancev, Tiho and Baltaduonis, Rimvyda

Less is more: A Field Experiment on Matching Guillen, Pablo & Hakimov, Rustamdjan
An Improved Bootstrap Test for Restricted Stochastic Dominance Lok, Thomas M. & Tabri, Rami V.
Time-Varying Trend Inflation and the New Keynesian Phillips Curve in Australia Lie, Denny & Yadav, Anirudh S.
Comments on "Trend Inflation, Indexation, and Inflation Persistence in the New Keynesian Phillips Curve" Gambau-Brisa, Fabia & Lie, Denny
Optimal Monetary Policy at the Zero Lower Bound Azariadis, Costas & Bullard, James & Singh, Aarti & Suda, Jacek
Let the sunshine in? The effects of luminance on economic preferences, choice consistency and dominance violations Glimcher, Paul & Tymula, Agnieszka
Public Debt and Growth in U.S. States Goldberg, Andrew & Romalis, John

State-Dependent Pricing and Optimal Monetary Policy

Lie, Denny

Canonical Riskless Choice Over Bundles: Aint No Reference Point Here

Chung, Hui-Kuan & Glimcher, Paul & Tymula, Agnieszka

Understanding Wage Inequality in Australia

Chatterjee, Arpita & Singh, Aarti & Stone, Tahlee

Shared intentions: the evolution of collaboration

Newton, Jonathan

Monetary Policy and the Financial Sector

Singh, Aarti & Stone, Sophie & Suda, Jacek

Soft Budget Constraints in Public Hospitals

Wright, Donald J.

Empirical Likelihood for Robust Poverty Comparisons

Tabri, Rami Victor

Eliciting utility curvature and time preference

Cheung, Stephen L.


The Preferences of Homo Moralis are Unstable when Evolving Assortativity

Newton, Jonathan

Assessing the Monotonicity Assumption in IV and fuzzy RD designs

Fiorini, Mario & Stevens, Katrien

Ricardo the ‘Logician’ versus Tooke the ‘Empiricist’: on their different vital contributions to classical economics

Smith, Matthew

Connecting the Markets? Recent Evidence on China's Capital Account Liberalization

Chan, Mark  K. & Kwok, Simon

Good Jobs and Recidivism

Schnepel, Kevin

Straightforward approximate stochastic equilibria for nonlinear Rational Expectations models

Johnston, Michael K. & King, Robert G. & Lie, Denny

Capital Account Liberalization and Dynamic Price Discovery: Evidence from Chinese Cross-Listed Stocks

Chan, Mark K. & Kwok, Simon

Sequential lending with dynamic joint liability in micro-finance

Chowdhury, Shyamal & Chowdhury, Prabal Roy & Sengupta, Kunal

International Wheat Price Responses to ENSO Shocks: Modelling Transmissions Using Smooth Transitions

Ubilava, David

Stochastic Stability in Assignment Problems

Klaus, Bettina & Newton, Jonathan

Improving Likelihood-Ratio-Based Confidence Intervals for Threshold Parameters in Finite Samples

Donayre, Luiggi & Eo, Yunjong & Morley, James

Effects Of Stress On Economic Decision-Making: Evidence From Laboratory Experiments

Delaney, Liam & Fink, Günther & Harmon, Colm

A classification of bargaining solutions by evolutionary origin

Hwang, Sung-Ha & Newton, Jonathan

Monkey see, monkey do: truth-telling in matching algorithms and the manipulation of others

Guillén, Pablo & Hakimov, Rustamdjan


Trade and the Global Recession

Eaton, Jonathan & Kortum, Sam & Neiman, Brent & Romalis, John

Flexible valuations for consumer goods as measured by the Becker-DeGroot-Marschak mechanism

Glimcher, Paul & Tymula, Agnieszka & Woelbert, Eva

A new solution for the moral hazard problem in team production

Hwang, Sung-Ha & Newton, Jonathan

Competitive Screening of a Heterogeneous Labor Force and Corporate Teamwork Attitude

Tymula, Agnieszka

Between the Sword and the Wall: Spain's Limited Options for Catalan Secessionism

Griffiths, Ryan D. & Guillen, Pablo & Martinez i Coma, Ferran

Innovation in a generalized timing game

Smirnov, Vladimir & Wait, Andrew

On the Elicitation of Time Preference under Conditions of Risk

Cheung, Stephen L.

File-Sharing and Film Revenues: An Empirical Analysis

McKenzie, Jordi & Walls, W. D.

Endogenous time preference: evidence from Australian households' behaviour

Dutta, Dilip & Yang, Yibai

Savings and Prize-Linked Savings Accounts

Atalay, Kadir., Bakhtiar, Fayzan., Cheung, Stephen L. & Slonim, Robert

Lying through Their Teeth: Third Party Advice and Truth Telling in a Strategy Proof Mechanism

Guillén, Pablo & Hing, Alexander

The Price of Luck

Bou, Silvia & Brandts, Jordi & Cayón, Magda & Guillén, Pablo

A one-shot deviation principle for stability in matching problems

Newton, Jonathan & Sawa, Ryoji

Specification Tests of Calibrated Option Pricing Models

Jarrow, Robert & Kwok, Simon.

The Impact of Resale on Entry in Second Price Auctions

Che, XiaoGang., Lee, Peter & Yang, Yibai

Is Monotonicity in an IV and RD design testable? No, but you can still check it

Edwards, Ben.,  Fiorini, Mario., Stevens, Katrien & Taylor, Matthew

The Relationship Between Delegation  and Incentives Across Occupations: Evidence and Theory

Prasad, Suraj & DeVaro, Jed

Housing Wealth and Household Consumption: New Evidence from Australia and Canada

Atalay, Kadir., Whelan, Stephen & Yates, Judith
The Decline of the Self-Employment Rate in Australia Atalay, Kadir., Kim, Woo-Yung  & Whelan, Stephen
Coalitions, tipping points and the speed of evolution Newton, Jonathan

Cheap talk and editorial control

Newton, Jonathan


Just a piece of paper? The effect of marriage on health

Fisher, Hayley

Stochastic stability on general state spaces

Newton, Jonathan

The New Keynesian view of aggregate demand: some reflections from a Sraffian standpoint

White, Graham

On Broadway and strip malls: how to make a winning team

Bel, Roland., Smirnov, Vladimir & Wait, Andrew

League Table Incentives and Price Bubbles in Experimental Asset Markets

Cheung, Stephen L. & Coleman, Andrew

An Equilibrium Model of General Practitioner Payment Schemes

Wright, Donald J.
Camouflaged Trade Agreements Appelbaum, Elie & Melatos, Mark
To See Is To Believe: Common Expectations in Experimental Asset Markets Cheung, Stephen L., Hedegaard, Morten & Palan, Stefan
Estimation of Public Goods Game Data Merrett, Danielle
How Does Uncertainty Affect the Choice of Trade Agreements? Appelbaum, Elie & Melatos, Mark

Calderbank v Calderbank: Cost-shifting in an Australian and British Context

Nguyen, Bonnie

Bayesian Inference about the Types of Structural Breaks When There are Many Breaks

Eo, Yunjong

Markov-Switching Models with Evolving Regime-Specific Parameters: Are Post-War Booms or Recessions All Alike?

Eo, Yunjong & Kim, Chang-jin

The discreet charm of the collective contract

Chong, Sophia & Guillen, Pablo

Social Comparison, Aspirations and Priming: When Fiction is as Powerful as Fact

Guillen, Pablo & Wu, Kevin

New Insights into Conditional Cooperation and Punishment from a Strategy Method Experiment

Cheung, Stephen L.


Limitations of Network Games - a brief discussion

Newton, Jonathan

Ownership, access and sequential investment

Mai, Maxim & Smirnov, Vladimir & Wait, Andrew

Likelihood-Based Confidence Sets for the Timing of Structural Breaks

 Eo, Yunjong & Morley, James

A Response to Cogley and Sbordone's Comment on "Closed-Form Estimates of the New Keynesian Phillips Curve with Time-Varying Trend Inflation"

Gumbau-Brisa, Fabià & Lie, Denny & Olivei, Giovanni P.

Estimation of Forward-Looking Relationships in Closed Form: An Application to the New Keynesian Phillips Curve

Barnes, Michelle L. & Gumbau-Brisa, Fabià & Lie, Denny & Olivei, Giovanni P.

Medical Malpractice and Physician Liability Under a Negligence Rule

Wright, Donald J.

Degrees Of Competition, The Rate Of Return And Growth From A Classical/Sraffian Perspective

White, Graham

Two heads are less bubbly than one: Team decision-making in an experimental asset market

Cheung, Stephen L. & Palan, Stefan

Demand-Led Growth Theory: An Historical Approach

Smith, Matthew

Modelling asset correlations: A nonparametric approach

Aslanidis, Nektarios & Casas, Isabel

Marriage penalties, marriage, and cohabitation

Fisher, Hayley

A Swarm of Innovators: Information, Leadership and Innovation

Bel, Roland & Smirnov, Vladimir & Wait, Andrew

Treasure Game

Matros, Alexander & Smirnov, Vladimir

The Career Costs of Children

Adda, Jérôme & Dustmann, Christian & Stevens, Katrien


Matching Markets with Mixed Ownership: The Case for A Real-life Assignment Mechanism

Guillen, Pablo & Kesten, Onur

When Second Opinions Hurt: A Model of Expert Advice under Career Conce rns

 Liu, Yaozhou Franklin & Sanyal, Amal

Internet Auctions with a Temporary Buyout Option

Che, XiaoGang

Demand-Led Growth In A Multi-Commodity Model With Learning: Some Preliminary Results

 White, Graham

Will There Be Blood? Incentives And Substitution Effects In Pro-Social Behavior

Lacetera, Nicola & Macis, Mario & Slonim, Robert

Is There Selection Bias in Laboratory Experiments?

Cleave, Blair L. & Nikiforakis, Nikos & Slonim, Robert

Involuntary Retirement and the Resolution of the Retirement-Consumption Puzzle: Evidence from Australia


 Barrett, Garry F. & Brzozowski, Matthew


Inventory Mistakes and the Great Moderation

Morley, James & Singh, Aarti

Learning and the Great Moderation

Bullard, James & Singh, Aarti

Garnaut - The Economic Underpinnings

White, Graham

Competition, "welfare" and macroeconomics- a classical/Sraffian perspe ctive

White, Graham


On-Campus Housing: Theory vs. Experiment

Guillen, Pablo & Kesten, Onur

Demand-led growth with debt constraints

White, Graham


Demand for Microcredit by Indonesian women

 Johar, Meliyanni & Rammohan, Anu

Competition, Learning and Persistence in the Effects of Unmeritocratic Hiring Decisions

Cooper, Peter

Why do the Rich Save More? A Theory and Australian Evidence

Chakrabarty, Debajyoti & Katayama, Hajime & Maslen, Hanna

Access, Veto and Ownership in the Theory of the Firm

Bel, Roland


Growth, Autonomous Demand and a Joint-Product Treatment of Fixed Capit al

White, Graham

Trade Liberalisation and Economic Growth in Turkey: An Empirical Model of Endogenous Growth Analysis

Cihan, Cengiz & Dutta, Dilip

Consumption Risk-sharing within Australia and with New Zealand


Kim, David & Sheen, Jeffrey

Prices and Poverty in Urban Ethiopia

Gebremedhin, Tesfaye & Whelan, Stephen

Possibilities of Trade Expansion among the SAARC Countries: Evidence from the Macro-Economic and Regional Trade Link Models

Rahman, Mohammad M

The Determinants of Bangladesh's Trade: Evidence from the Generalized Gravity Model

Rahman, Mohammad Mafizur

Asymmetric Monetary Policy in Australia

 Leu, Shawn Chen-Yu & Sheen, Jeffrey

Bangladesh-India Bilateral Trade: Causes of Imbalance and Measures for Improvement

Rahman, Mohammad Mafizur


When the Bubble Bursts: Monetary Policy Rules and Foreign Exchange Market Behavior

Nicoletta Batini and Edward Nelson