Wealth and Consumption in Australia

We revisit the evidence on the effect of changes in household wealth on consumption using a panel of Australian states. We find that a one per cent increase in the value of housing wealth increases consumption by about 0.16 per cent in the long-run, with half of the response occurring within two quarters. The size of this response has been stable over time and largely reflects changes in spending on motor vehicles, durable goods and other discretionary items. We then run counterfactual scenarios using the Reserve Bank of Australia's macroeconometric model, MARTIN, to assess the macroeconomic effects of changes in household wealth. We show that increases in household wealth supported household spending between 2013 and 2017, when growth in disposable income was weak.     

Understanding donors: A case of university performing arts programs in the USA

• The purpose of the study was to: (a) to examine the factors that influence donor behavior, (b) to determine which specific perceived benefits are predictors of donor behavior, and (c) to examine the influence of gender, age, and income level of university performing arts program (PAP) donors. Secondary data from the Value and Impact Study, collected by 14 Major University Presenters (MUPs) was used. Results of data analyses using 1771 donor responses suggest that identification with the PAP, familiarity with planned giving options, and public recognition are important predictors of donor behavior. Donors highly value priority seating, advanced notice of programs, and ability to purchase single tickets in advance of public sale. Additionally, age, gender, economic status, and perceived benefits were found to be important variables for understanding donor behavior. Given these results, implications for future research and practice in relationship marketing are discussed.

Copyright © 2011 John Wiley & Sons, Ltd.     

From Coping Strategies to Tactics: London's Low‐Pay Economy and Migrant Labour

This article examines the means by which low‐paid migrant workers survive in a rapidly changing and increasingly unequal labour market. In a departure from the coping strategies literature, it is argued that the difficulties migrant workers face in the London labour market reduces their ability to ‘strategize’. Instead, workers adopt a range of ‘tactics’ that enable them to ‘get by’, if only just, on a day‐to‐day basis. The article explores these tactics with reference to the connections between different workers’ experiences of the workplace, home and community, and demonstrates the role of national, ethnic and gender relations in shaping migrant workers’ experiences of the London labour market and of the city more widely.     

Alternative adjustments to analysts' earnings forecasts: relative and complementary performance

This study examines the relative and complementary performance of alternative earnings forecast adjustments using a common set of consensus analysts’ earnings forecasts. We document that a simple adjustment to analysts’ earnings forecasts, based solely on cross-sectional relationships between actual and forecasted earnings in the prior year, performs as well as more complicated adjustment methods, i.e., composite forecasts and persistence adjusted forecasts. A forecast adjustment that is based on prior year earnings and returns, however, provides significant incremental reductions in forecast error and dominates all of the other adjustment methods.     

TECHNOLOGY TRANSFERS FOR CLIMATE CHANGE

This article considers the transfer of cost‐reducing technology in the context of contributions to climate protection. We analyze a two‐period public goods model where later contributions can be based on better information, but delaying the mitigation effort is costly because of irreversible damages. Investments in technology affect the countries' timing of contributing. We show that countries have an incentive to provide cost‐reducing technology as this can lead to an earlier contribution of other countries and can therefore reduce a country's burden of contributing to the public good. Our results provide a rationale for the support of technology sharing initiatives.     

Questioning airport expansion—A case study of Canberra International Airport

World air traffic is expected to grow substantially in the next decade and beyond. Associated with this are accelerated programs to build new airports and expand existing ones. However, aviation futures are increasingly contested globally on ecological and resource grounds, and in relation to the quality of life of affected local communities, and to growing fears associated with terrorism, wars and civil unrest. This case study addresses the issues arising from the privatisation and expansion of Canberra International Airport in Australia. Aircraft noise is a major concern for community groups, and land use planning also emerged as a key issue in a highly publicised conflict between a land developer and Canberra airport management. An important outcome is the recognition of the need for independent policy institutes—working in conjunction with community groups—to challenge the prevailing hegemony of the business-political nexus.     

Smoke and mirrors? The science of poverty measurement and its application

Measures of poverty are much used, but also much criticised as having limited value in debates on public resource allocation. Some argue that the measures are too conservative and do little more than complicate important issues of inequality and injustice. However, poverty measurement can be sensitive to these concerns if grounded in the field's well-developed theoretical foundation. In South Africa, poverty measures over more than 50 years have consistently taken into account distributional issues and the causes and implications of deprivation, and most South African analyses of poverty have recognised and incorporated the multi-dimensional nature of poverty. Recognising different perceptions of aggregation, time horizon and the role of states and markets is perhaps more important than methodology when assessing what poverty measures can contribute. With proper theorisation, and attention paid to the purpose of poverty diagnostics, measurement is more than sleight-of-hand and can provide both a tool for advocacy and a means to implement policies that promote greater social justice.     

Employee affective and behavioral reactions to the spatial density of physical work environments

This field study of a medical clinic found that employees in spatially dense work areas (i.e., those with little space available per person) experienced higher levels of perceived crowding, transfer intentions, and tardiness, as well as lower work area satisfaction, than employees in low‐density areas. Crowding perceptions explained the relations between spatial density and the measures of work area satisfaction and tardiness. Finally, when employees had high workloads and their jobs required physical movement, spatial density had weaker relations to crowding perceptions and area satisfaction than in other conditions. Implications of these findings for human resource practitioners are discussed. © 2005 Wiley Periodicals, Inc.