Registration and Morning Coffee 8:30–9:00 a.m.
[64] Z411 9:00–10:45 a.m.
SESSIONS IN HONOUR OF MURRAY KEMP:
DEVELOPMENT AND MIGRATION
Organizers: Partha Gangopadhyay, University of Western Sydney, and Binh Tran-Nam, University of New South Wales
Chair: Partha Gangopadhyay, University of Western Sydney Papers: Masayuki Okawa, Ritsumeikan University
The Optimal Tariff Policy and Endogenous Location Choice Mamta Chowdhury, University of Western Sydney
Remittances Flow and Financial Development in Bangladesh Arlene Ozanne, University of Otago
The Economic Impact of the International Migration of Health Workers:
Sustainable Development of the Philippines and Emigration Discussants: to be announced
[65] Z205 9:00–10:45 a.m.
QUANTITATIVE AND EXPERIMENTAL METHODS IN FINANCIAL ECONOMICS
Chair: to be announced
Papers: Keith Cuthbertson, City University London, and Dirk Nitzsche, City University London
Performance, Stock Selection and Market Timing: German Mutual Fund Industry
Dirk Nitzsche, City University London, and Keith Cuthbertson, City University London
Winners and Losers: German Equity Mutual Funds Nicolae Adrian Stoian, California State University, East Bay
Public Messages and Asset Prices Discussants: from above participants
[66] Z302 9:00–10:45 a.m.
THRESHOLD CONCEPTS IN ECONOMICS EDUCATION—
THEORY AND PRACTICE
Organizer and Chair: Tommy Tang, Queensland University of Technology
Papers: Ross S. Guest, Griffith University
Threshold Concepts in Economics: What, Why and How?
Rod O’Donnell, University of Technology, Sydney Critique of the Threshold Concept Hypothesis Mary R. Hedges, University of Auckland
Embedding Threshold Concepts: Use of a Practice-Theory-Practice Cycle
Discussants: Tim Robinson, Queensland University of Technology Tommy Tang, Queensland University of Technology
[67] Z208 9:00–10:45 a.m.
Organizers: Eduard H. Hochreiter, Joint Vienna Institute, and Thorvaldur Gylfason, University of Iceland
Chair: Thorvaldur Gylfason, University of Iceland Papers: Sven W. Arndt, Claremont McKenna College
Open-economy Macro Adjustment among US, Euroland and China Johannes W. Fedderke, Pennsylvania State University
Comparative of the Indian and Chinese Manufacturing Sectors Thorvaldur Gylfason, University of Iceland, and Eduard H. Hochreiter, Joint Vienna Institute
Growing Together: Croatia and Latvia
Alfred Sitz, Vienna University of Economics and Business
From PLUS 2 to MINUS 18 Percent: Why Did European Economies Experience Such Different Impacts of the Recent Financial Crisis Discussants: to be announced
[68] Z301 9:00–10:45 a.m.
OIL PRICES, VOLATILITY, PORTFOLIOS Chair: Fardous Alom, Lincoln University
Papers: Fardous Alom, Lincoln University, Baiding Hu, Lincoln University, and Bert D. Ward, Lincoln University
Asymmetric GARCH Models of Oil Price Volatility Wei-han Liu, La Trobe University
Portfolio Value-at-Risk Estimation for Oil Spot Prices and Their Futures—Incorporating a Reexamination of Maturity Effect Discussants: Ronald A. Ratti, University of Western Sydney Roger Ham, University of Western Sydney
[69] Z308 9:00–10:45 a.m.
PUBLIC POLICY ISSUES
Chair: Jane E. Ruseski, University of Alberta
Papers: Jacob A. Bikker, De Nederlandsche Bank, Onno W. Steenbeek, Erasmus University, and All Pensions Group, and Federico Torracchi, De Nederlandsche Bank
The Impact of Scale, Complexity, and Service Quality on the
Administrative Costs of Pension Funds: A Cross-Country Comparison Yang Li, University of Queensland, Kam Ki Tang, University of Queensland, and Jie Zhang, National University of Singapore
Heterogeneous Health and Capital Endowments with Involuntary Retirement and Public Policy
Friska Parulian, ERIA, and Mukul G. Asher, National University of Singapore
Civil Service Pensions in Middle Income Countries: Current Arrangement, Issues and Reform Direction
Discussants: Kazuki Onji, Australian National University Nara F. Monkam, University of Pretoria
Siew Ling Yew, Monash University
[70] Z306 9:00–10:45 a.m.
ECONOMETRIC MEASUREMENTS APPLICABLE TO STOCK INVESTORS, CORPORATIONS, AND GOVERNMENT
Chair: Rashmi Umesh Arora, Griffith University
Papers: Chia-Jui Chang, Chung Yuan Christian University, Sheng-Chieh Pan, China University of Technology, Meng-Hua Tsai, Chung Yuan Christian University, Po-Chin Wu, Chung Yuan Christian University, and Huei-Ping Zeng, Chung Yuan Christian University
Cash Flow at Risk in Operating, Investing and Financing Activities:
Evidence from the Companies in the Taiwan 50 Index
Shiao-Yen Liu, Chung Yuan Christian University, Chiung-Wen Fan, Nanya Institute of Technology, Sheng-Chieh Pan, China University of
Technology, and Po-Chin Wu, Chung Yuan Christian University The Performance Evaluation of OECD Countries: A Consideration of Undesirable Outputs
Chia-Jui Peng, Chung Yuan Christian University, Yen-Yuan Lai, Chung Yuan Christian University, Shiao-Yen Liu, Chung Yuan Christian University, Po-Chin Wu, Chung Yuan Christian University, and Chien-Wen Yang, Chung Yuan Christian University
Nonlinear Adjustment and Arbitrage Region of Stock Price—An Extensive Application of the Ohlson Model
Wan Hua Lee, National University of Kaohsiung, and Yang Li, National University of Kaohsiung
Study of Operating Performances and Investment Strategies of Mainland China’s Subsidiaries of Taiwan
Discussants: Shamila A. Jayasuriya, Ohio University Jae Kim, La Trobe University
Chia-Jui Chang, Chung Yuan Christian University
Chun-Yu Lin, National Kaohsiung University of Applied Sciences
[71] Z309 9:00–10:45 a.m.
ISSUES IN AGRICULTURAL PRODUCTION IN DEVELOPING COUNTRIES
Organizer: Clevo I. Wilson, Queensland University of Technology Chair: Sean Pascoe, CSIRO
Papers: Kularatne G. Mohottala-Gedara, Queensland University of Technology, Sean Pascoe, CSIRO, Tim Robinson, Queensland University of Technology, and Clevo I. Wilson, Queensland University of Technology
Factors Influencing Efficient Allocation of Water for Reservoir-based Agricultural Production in Sri Lanka
K. M. R. Muditha Karunarathna, Queensland University of Technology, Tim Robinson, Queensland University of Technology, and Clevo I. Wilson, Queensland University of Technology
Components of Agricultural Biodiversity and Farm Level Technical Efficiency: An Empirical Investigation
Wasantha Athukorala, Queensland University of Technology, Tim Robinson, Queensland University of Technology, and Clevo I. Wilson, Queensland University of Technology
Pesticide Use in Agriculture and Its Impact on Farm Level Inefficiency:
Evidence from Sri Lanka
Discussants: Jason K. Hansen, Naval Postgraduate School Euan Fleming, University of New England
George Antony, Queensland Department of Employment, Economic Development and Innovation
[72] Z304 9:00–10:45 a.m.
Contemporary Economic Policy Session FLOODS AND WATER SCARCITY
Organizer: Darwin C. Hall, California State University, Long Beach, and Western Economic Association International
Chair: Rosalind Bark, CSIRO
Papers: Azusa Okagawa, National Institute for Environmental Studies, and Akira Hibiki, National Institute for Environmental Studies
Flood Risk Management under Climate Change Ellen Hanak, Public Policy Institute of California
Flood Insurance Demand Peter Sutherland, GHD
Lessons from Two Decades of Water Reform in Australia: Facing a Scarce Water Future
Discussants: Shigeru Matsumoto, Aoyama Gakuin University Jeremy Webb, Queensland University of Technology Douglas Fisher, Queensland University of Technology
[73] Z303 9:00–10:45 a.m.
EDUCATIONAL ACHIEVEMENT AND COMPENSATION Organizer and Chair: Darwin C. Hall, California State University, Long Beach, and Western Economic Association International
Papers: Peter Elias, University of Warwick, and Kate Purcell, University of Warwick
Higher Education, Intergenerational Mobility and Earnings: The Case of the UK
Sarah Crichton, New Zealand Department of Labour, and Sylvia Dixon, New Zealand Department of Labour
The Labour Market Returns to Further Education for Working Adults Alvaro A. Comin, University of Sao Paulo
The Impact of Higher Education Expansion on Labor Markets and Economic Restructuring in Brazil
Ian W. Li, University of Western Australia, Elisa R. Birch, University of Western Australia, and Anu Rammohan, University of Western Australia
The Gender-Wage Gap in Graduate Earnings: A Quantile Regression Approach
Discussants: Sarah Crichton, New Zealand Department of Labour Ian W. Li, University of Western Australia
Tiago Freire, National University of Singapore
Dipanwita Sarkar, Queensland University of Technology
[74] Z411 11:00 a.m.–12:45 p.m.
SESSIONS IN HONOUR OF MURRAY KEMP:
ECONOMICS OF RIVALRY AND PARTNERSHIPS Organizers: Partha Gangopadhyay, University of Western Sydney, and Binh Tran-Nam, University of New South Wales
Chair: Maria Estella Varua, University of Western Sydney Papers: Kenji Fujiwara, Kwansei Gakuin University
Welfare Implications of Leadership in a Resource Market under Bilateral Monopoly
Vijay Mohan, Deakin University, and Bharat R. Hazari, City University of Hong Kong
Tax Policy When Countries Compete for Exports: A Simple Ricardian-Hotelling Model
Robert F. Owen, University of Nantes, and Partha Gangopadhyay, University of Western Sydney
Can Market Access Costs in the Absence of Sunk Costs Be a Source of Collusion in Vertical Markets?
Masahiro Kawai, Asian Development Bank Institute, Biswa Nath Bhattacharyay, Asian Development Bank Institute, and Kakali Mukhopadhyay, McGill University
Forging Economic Partnership between India and Japan: Prospects and Challenges
Discussants: to be announced
[75] Z205 11:00 a.m.–12:45 p.m.
MONETARY ECONOMICS AND POLICY Chair: Ashton de Silva, RMIT University
Papers: Makram El-Shagi, Halle Institute for Economic Research, and Sebastian Giesen, Halle Institute for Economic Research
Money and Inflation: The Role of Persistent Velocity Movements Steve Keen, University of Western Sydney
Are We ‘It’ Yet? A Monetary Minsky Model of the Great Moderation and Recession
Saten Kumar, Auckland University of Technology, Scott Fargher, Auckland University of Technology, and Don J. Webber, Auckland University of Technology
Money Demand Stability: A Case of Nigeria
Discussants: Ryan B. Edwards, University of Queensland Neil Dias Karunaratne, University of Queensland Makram El-Shagi, Halle Institute for Economic Research
[76] Z208 11:00 a.m.–12:45 p.m.
FINANCE AND TRADE IN INTERNATIONAL ECONOMICS Chair: Chia-Jui Peng, Chung Yuan Christian University
Papers: Rashmi Umesh Arora, Griffith University, and Nicholas Rohde, Griffith University
Finance and Inequality in South Asia
Joze Damijan, University of Ljubljana, Crt Kostevc, University of Ljubljana, and Matija Rojec, University of Ljubljana
Learning from Trade through Innovation: Causal Link between Imports, Exports and Innovation in Spanish Microdata
Yasuko Ishiguro, University of Hyogo
A Krugman-type Core-Periphery Model with Financial Assets—
Structure and Stability of Equilibria
Discussants: Keith Cuthbertson, City University London Dirk Nitzsche, City University London
[77] Z302 11:00 a.m.–12:45 p.m.
STOCK MARKET AND REGULATION Chair: Shamila A. Jayasuriya, Ohio University Papers: Shamila A. Jayasuriya, Ohio University
Jae Kim, La Trobe University, Kiam Ping Lim, Universiti Malaysia Sabah, and Abul Shamsuddin, University of Newcastle
Stock Return Predictability and the Adaptive Markets Hypothesis:
Evidence from Century-Long U.S. Data
Discussants: Nicolae Adrian Stoian, California State University, East Bay Jae Kim, La Trobe University
[78] Z306 11:00 a.m.–12:45 p.m.
IMPLICATIONS OF TAX POLICY FOR REVENUE
GENERATION, WELFARE, AND POPULATION GROWTH Chair: Jacob A. Bikker, De Nederlandsche Bank
Papers: Nara F. Monkam, University of Pretoria
Mobilising Tax Revenue to Finance Development: The Case for Property Taxation in Francophone Africa
Siew Ling Yew, Monash University, and Jie Zhang, National University of Singapore
Golden-rule Social Security and Public Health in a Dynastic Model with Endogenous Longevity and Fertility
Discussants: Jane E. Ruseski, University of Alberta Yang Li, University of Queensland
[79] Z308 11:00 a.m.–12:45 p.m.
PRODUCTIVITY, OUTSOURCING, AND COMPETITION Chair: Vivek Pai, Charles River Associates, Inc.
Papers: Sasan Bakhtiari, University of New South Wales Productivity, Size and Outsourcing: Theory and Evidence from Australian Manufacturing
Wen-Jung Liang, Tamkang University, Pei-Ling Chen, National Taipei University, and Yen-Ju Lin, Fo Guang University
Lobby Competition and Standardization Union
Madhu S. Mohanty, California State University, Los Angeles Effects of Positive Attitude on Productivity: A Theoretical Analysis Massimiliano Tani, Macquarie University
Knowledge Flows across Organisations: The Role of Business Visits Discussants: Vivek Pai, Charles River Associates, Inc.
Simona Fabrizi, Massey University Wen-Jung Liang, Tamkang University
Sasan Bakhtiari, University of New South Wales
[80] Z301 11:00 a.m.–12:45 p.m.
ISSUES ON OIL PRICE SHOCKS, STOCK PRICES, AND CARBON PRICE
Organizer and Chair: Ronald A. Ratti, University of Western Sydney Papers: Harminder Singh, Deakin University, and Mohan Nandha, Monash University
Short- and Long-Run Oil Price Sensitivity of Chinese Stocks Roger Ham, University of Western Sydney, and Kyung Hwan Yoon, University of Western Sydney
Oil Futures and Carbon Prices: Instability and Spillover
Ronald A. Ratti, University of Western Sydney, Wensheng Kang, Kent State University, and Kisok Lee, Kyung Hee University
Stock Price Volatility, Oil Price Shocks and Investment Discussants: Fardous Alom, Lincoln University
Harminder Singh, Deakin University Wei-han Liu, La Trobe University
[81] Z309 11:00 a.m.–12:45 p.m.
STUDIES INVOLVING ENVIRONMENTAL VALUATION TECHNIQUES
Organizer: Clevo I. Wilson, Queensland University of Technology Chair: Wasantha Athukorala, Queensland University of Technology Papers: Clevo I. Wilson, Queensland University of Technology, Wasantha Athukorala, Queensland University of Technology, and Dan Carter, Redland City Council
The Presence of Koalas in Neighbourhoods and Property Values: A Hedonic Property Values Study
Wasantha Athukorala, Queensland University of Technology, and Clevo I.
Health Benefits of Reducing Industrial Air Pollution: A Comparison of Willingness to Accept Compensation and Cost of Illness Estimates Prasad Neelawela, Queensland University of Technology, Wasantha Athukorala, Queensland University of Technology, and Clevo I. Wilson, Queensland University of Technology
Impact of Mining Activities on Property Values
Discussants: John A. Janmaat, University of British Columbia Jane V. Hall, California State University, Fullerton
Darwin C. Hall, California State University, Long Beach, and Western Economic Association International
Tony Sahama, Queensland University of Technology
[82] Z304 11:00 a.m.–12:45 p.m.
Contemporary Economic Policy Session
ENVIRONMENTAL WATER GOVERNANCE: DESIGN PRINCIPLES AND IMPLEMENTATION LESSONS Organizer: Dustin Garrick, CSIRO, and University of South Australia Chair: Jeff Connor, CSIRO
Papers: Lin Crase, La Trobe University
Observations about Managing Environmental Water Reserves in Australia
Dustin Garrick, CSIRO, and University of South Australia, Rosalind Bark, CSIRO, and Jeff Connor, CSIRO
Nested Arrangements for Environmental Water Governance in the Southern Connected Murray
Erin O’Donnell, University of Melbourne
A New Approach to Environmental Water Governance in Victoria Discussants: Sarah Wheeler, University of South Australia Ellen Hanak, Public Policy Institute of California
Rosalind Bark, CSIRO
[83] Z305 11:00 a.m.–12:45 p.m.
Contemporary Economic Policy Session ECONOMIC ANALYSIS
Organizer: Jack W. Hou, California State University, Long Beach Chair: James Laurenceson, University of Queensland
Papers: Jack W. Hou, California State University, Long Beach, Qun Bao, Nankai University, and Min Shao, Nankai University
How Do Firms’ Export Decision Affect Employee Income? Evidence from China’s Firm Level Data
Daniel Xiangyi Meng, Central University of Finance and Economics, and Yan Guo, Peking University
Public vs. Private R&D at the Firm Level: Evidence from One High-tech Park in China
John R. Graham, University of Calgary, and Marion E. Jones, University of Regina
Human and Social Capital for Vulnerable Populations: Insight from Employed People Experiencing Homelessness
Discussants: Qing He, Renmin University of China Therese Quang, University of Paris West-Nanterre Jack W. Hou, California State University, Long Beach
[84] Z411 12:50–2:15 p.m.
Lunch and General Session KEYNOTE ADDRESS
Introduction: Darwin C. Hall, California State University, Long Beach, and Western Economic Association International
Address: Paul A. David, Stanford University
Slowly Approaching Economic Catastrophes: Then, Now, ... and Next?
Barefoot Bowls & Sunset BBQ 2:30 p.m.
Advance ticket purchase required. Tickets can be purchase both bowling and BBQ or for just BBQ, which will begin approximately 5:00 p.m.