Pub Date : 2011-04-01DOI: 10.22459/AG.18.01.2011.08
R. Pomfret, John K. Wilson
Professional team sports enjoy subsidies from government, as well as regulatory exemption from standards that apply to other sectors of the economy. The Australian sports economics literature has, however, focused on competitive balance, with few studies examining government policies. This paper examines government policies such as subsidies, mega-event bidding, salary caps and player draft systems. We argue that the peculiar nature of professional sports provides some justification for such distinctive government policies. However, there is need for greater transparency, better-directed funding, and genuine public debate on some of these policies to enable considered evaluation of their benefits and costs.
{"title":"The peculiar economics of government policy towards sport.","authors":"R. Pomfret, John K. Wilson","doi":"10.22459/AG.18.01.2011.08","DOIUrl":"https://doi.org/10.22459/AG.18.01.2011.08","url":null,"abstract":"Professional team sports enjoy subsidies from government, as well as regulatory exemption from standards that apply to other sectors of the economy. The Australian sports economics literature has, however, focused on competitive balance, with few studies examining government policies. This paper examines government policies such as subsidies, mega-event bidding, salary caps and player draft systems. We argue that the peculiar nature of professional sports provides some justification for such distinctive government policies. However, there is need for greater transparency, better-directed funding, and genuine public debate on some of these policies to enable considered evaluation of their benefits and costs.","PeriodicalId":41700,"journal":{"name":"Agenda-A Journal of Policy Analysis and Reform","volume":"120 1","pages":"85-100"},"PeriodicalIF":0.1,"publicationDate":"2011-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89626725","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2011-04-01DOI: 10.22459/AG.18.01.2011.05
Nigel Stapledon
This paper looks at the difficulties for fiscal and monetary policy posed by the inherent uncertainty of the economic outlook. It contrasts the excessive optimism of policymakers in the approach to the 1989-91 recession with the excessive pessimism of the outlook in Australia in 2008.
{"title":"The Benefits (and Costs) of Foresight and Hindsight in Macro Policy Formulation","authors":"Nigel Stapledon","doi":"10.22459/AG.18.01.2011.05","DOIUrl":"https://doi.org/10.22459/AG.18.01.2011.05","url":null,"abstract":"This paper looks at the difficulties for fiscal and monetary policy posed by the inherent uncertainty of the economic outlook. It contrasts the excessive optimism of policymakers in the approach to the 1989-91 recession with the excessive pessimism of the outlook in Australia in 2008.","PeriodicalId":41700,"journal":{"name":"Agenda-A Journal of Policy Analysis and Reform","volume":"2014 1","pages":"41-52"},"PeriodicalIF":0.1,"publicationDate":"2011-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86808980","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-12-01DOI: 10.22459/AG.17.02.2010.03
P. Abelson
Numerous regulations govern entry, industry structure, service quality and prices for the Sydney taxi industry. The paper finds few efficiency or social reasons for these regulations and taxi performance is poor. On plausible assumptions, the net benefits from unrestricted entry into the Sydney taxi industry are in the order of $265 million per annum. The productivity and service benefits of reforming entry would be greater if accompanied by reform of the anti-competitive control of the taxi radio networks over all taxi operators.
{"title":"The High Cost of Taxi Regulation, with Special Reference to Sydney","authors":"P. Abelson","doi":"10.22459/AG.17.02.2010.03","DOIUrl":"https://doi.org/10.22459/AG.17.02.2010.03","url":null,"abstract":"Numerous regulations govern entry, industry structure, service quality and prices for the Sydney taxi industry. The paper finds few efficiency or social reasons for these regulations and taxi performance is poor. On plausible assumptions, the net benefits from unrestricted entry into the Sydney taxi industry are in the order of $265 million per annum. The productivity and service benefits of reforming entry would be greater if accompanied by reform of the anti-competitive control of the taxi radio networks over all taxi operators.","PeriodicalId":41700,"journal":{"name":"Agenda-A Journal of Policy Analysis and Reform","volume":"14 1","pages":"41-72"},"PeriodicalIF":0.1,"publicationDate":"2010-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73636084","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-12-01DOI: 10.22459/AG.17.02.2010.04
Stephen Iles, G. Johns
The paper assesses the application of the precautionary principle in the Queensland Wild Rivers Act 2005. It finds that the Act is more restrictive than the ecologically sustainable development principles as conceived, and deployed, by the Queensland Government elsewhere. At the same time the Act is injurious to property rights, unnecessarily restricts future development options, and does not allow for assessments of non-environmental values or the cost of options forgone. As a result the Act has severe consequences for the Cape York economy and increases the risk of perverse consequences for the environment.
{"title":"An economic unravelling of the precautionary principle: the Queensland Wild Rivers Act 2005.","authors":"Stephen Iles, G. Johns","doi":"10.22459/AG.17.02.2010.04","DOIUrl":"https://doi.org/10.22459/AG.17.02.2010.04","url":null,"abstract":"The paper assesses the application of the precautionary principle in the Queensland Wild Rivers Act 2005. It finds that the Act is more restrictive than the ecologically sustainable development principles as conceived, and deployed, by the Queensland Government elsewhere. At the same time the Act is injurious to property rights, unnecessarily restricts future development options, and does not allow for assessments of non-environmental values or the cost of options forgone. As a result the Act has severe consequences for the Cape York economy and increases the risk of perverse consequences for the environment.","PeriodicalId":41700,"journal":{"name":"Agenda-A Journal of Policy Analysis and Reform","volume":"58 1","pages":"73-92"},"PeriodicalIF":0.1,"publicationDate":"2010-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76378502","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-12-01DOI: 10.22459/AG.17.02.2010.02
R. Grafton
The paper reviews the $12.9 billion Water for the Future package in the Murray-Darling Basin from the perspective of cost-effectiveness and assesses the possible losses to irrigators from reduced diversions to achieve desired environmental-flow regimes. It argues that combining the $3.1 billion allocated to buying water entitlements with the $5.8 billion targeted by Water for the Future for water infrastructure subsidies into a purchase of water entitlements from willing sellers would maximise the water acquired for the environment per dollar of expenditure, provide greater assistance to holders of water entitlements, and reduce the expected gap between average water diversions for agriculture and sustainable diversion limits.
{"title":"How to Increase the Cost-Effectiveness of Water Reform and Environmental Flows in the Murray-Darling Basin","authors":"R. Grafton","doi":"10.22459/AG.17.02.2010.02","DOIUrl":"https://doi.org/10.22459/AG.17.02.2010.02","url":null,"abstract":"The paper reviews the $12.9 billion Water for the Future package in the Murray-Darling Basin from the perspective of cost-effectiveness and assesses the possible losses to irrigators from reduced diversions to achieve desired environmental-flow regimes. It argues that combining the $3.1 billion allocated to buying water entitlements with the $5.8 billion targeted by Water for the Future for water infrastructure subsidies into a purchase of water entitlements from willing sellers would maximise the water acquired for the environment per dollar of expenditure, provide greater assistance to holders of water entitlements, and reduce the expected gap between average water diversions for agriculture and sustainable diversion limits.","PeriodicalId":41700,"journal":{"name":"Agenda-A Journal of Policy Analysis and Reform","volume":"95 1","pages":"17-40"},"PeriodicalIF":0.1,"publicationDate":"2010-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75705413","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-12-01DOI: 10.22459/AG.17.02.2010.01
A. Makin
A close scrutiny of the pattern of aggregate expenditure recorded in the Australian national accounts reveals it was the behaviour of exports and imports, and not increased fiscal activity, that was primarily responsible for offsetting the fall in private investment due to the Global Financial Crisis. The examination of a broad set of national income and employment indicators suggests that the Australian economy most likely did not avoid a recession, even though it was a relatively mild one by past standards.
{"title":"Did Australia's Fiscal Stimulus Counter Recession?: Evidence from the National Accounts","authors":"A. Makin","doi":"10.22459/AG.17.02.2010.01","DOIUrl":"https://doi.org/10.22459/AG.17.02.2010.01","url":null,"abstract":"A close scrutiny of the pattern of aggregate expenditure recorded in the Australian national accounts reveals it was the behaviour of exports and imports, and not increased fiscal activity, that was primarily responsible for offsetting the fall in private investment due to the Global Financial Crisis. The examination of a broad set of national income and employment indicators suggests that the Australian economy most likely did not avoid a recession, even though it was a relatively mild one by past standards.","PeriodicalId":41700,"journal":{"name":"Agenda-A Journal of Policy Analysis and Reform","volume":"28 1","pages":"5-16"},"PeriodicalIF":0.1,"publicationDate":"2010-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80434232","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-07-22DOI: 10.22459/AG.17.01.2010.03
S. Grenville
The various factors that have opened up the debate for a new mind-set for exchange rates to be changed from a free float system in Australia are discussed. The need is for a wider change in the mind-set and it appears likely that countries like Japan and Australia will go for on intervening.
{"title":"A New Mind-set for Exchange Rates","authors":"S. Grenville","doi":"10.22459/AG.17.01.2010.03","DOIUrl":"https://doi.org/10.22459/AG.17.01.2010.03","url":null,"abstract":"The various factors that have opened up the debate for a new mind-set for exchange rates to be changed from a free float system in Australia are discussed. The need is for a wider change in the mind-set and it appears likely that countries like Japan and Australia will go for on intervening.","PeriodicalId":41700,"journal":{"name":"Agenda-A Journal of Policy Analysis and Reform","volume":"69 1","pages":"55-62"},"PeriodicalIF":0.1,"publicationDate":"2010-07-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75836647","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-07-01DOI: 10.22459/AG.17.01.2010.02
H. Clarke
The effects of risk and uncertainty on climate-change policy design are analysed. It is argued that while the science of climate change involves a consensus that anthropogenic greenhouse-gas emissions are driving higher temperatures and a changed global climate, there remains uncertainty about the extent of such changes and the risk of catastrophically large temperature increases in the absence of emission mitigation. The possible cost consequences of not addressing climate change are much greater than the costs of addressing it so that, from a range of perspectives, activist mitigation policies make sense. A critical assessment of Australian climate-change policy is provided, emphasising the key specific uncertainties that impact on policy design.
{"title":"Formulating Policy Responses to Global Warming in the Face of Uncertainty","authors":"H. Clarke","doi":"10.22459/AG.17.01.2010.02","DOIUrl":"https://doi.org/10.22459/AG.17.01.2010.02","url":null,"abstract":"The effects of risk and uncertainty on climate-change policy design are analysed. It is argued that while the science of climate change involves a consensus that anthropogenic greenhouse-gas emissions are driving higher temperatures and a changed global climate, there remains uncertainty about the extent of such changes and the risk of catastrophically large temperature increases in the absence of emission mitigation. The possible cost consequences of not addressing climate change are much greater than the costs of addressing it so that, from a range of perspectives, activist mitigation policies make sense. A critical assessment of Australian climate-change policy is provided, emphasising the key specific uncertainties that impact on policy design.","PeriodicalId":41700,"journal":{"name":"Agenda-A Journal of Policy Analysis and Reform","volume":"26 1 1","pages":"33-54"},"PeriodicalIF":0.1,"publicationDate":"2010-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86911676","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-07-01DOI: 10.22459/AG.17.01.2010.06
D. Harding, J. Libich
Consistency is one of the touchstones used to evaluate not only arguments but also the people that put forward the arguments. In assessing the person advocating an argument, it is natural to look for coherence over time in their arguments and, secondly, whether the person offers a convincing explanation for a change of view. We apply this framework to evaluate some of Paul Krugman's macroeconomic analysis.
{"title":"Froth and Bubble: The Inconsistency of Paul Krugman's Macroeconomic Analysis","authors":"D. Harding, J. Libich","doi":"10.22459/AG.17.01.2010.06","DOIUrl":"https://doi.org/10.22459/AG.17.01.2010.06","url":null,"abstract":"Consistency is one of the touchstones used to evaluate not only arguments but also the people that put forward the arguments. In assessing the person advocating an argument, it is natural to look for coherence over time in their arguments and, secondly, whether the person offers a convincing explanation for a change of view. We apply this framework to evaluate some of Paul Krugman's macroeconomic analysis.","PeriodicalId":41700,"journal":{"name":"Agenda-A Journal of Policy Analysis and Reform","volume":"23 1","pages":"83-88"},"PeriodicalIF":0.1,"publicationDate":"2010-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90182864","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-07-01DOI: 10.22459/AG.17.01.2010.11
Gennadi Kazakevitch
The divided public opinion with regards to renowned Russian economist Yegor Gaidar, on his life and influence is discussed. Gaidar's role in contemporary Russia beyond partisan debate is highlighted.
{"title":"Yegor Gaidar: Pragmatic Economist or Romantic Revolutionary?","authors":"Gennadi Kazakevitch","doi":"10.22459/AG.17.01.2010.11","DOIUrl":"https://doi.org/10.22459/AG.17.01.2010.11","url":null,"abstract":"The divided public opinion with regards to renowned Russian economist Yegor Gaidar, on his life and influence is discussed. Gaidar's role in contemporary Russia beyond partisan debate is highlighted.","PeriodicalId":41700,"journal":{"name":"Agenda-A Journal of Policy Analysis and Reform","volume":"7 11 1","pages":"121-132"},"PeriodicalIF":0.1,"publicationDate":"2010-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78489480","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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