Australian money supply analysis: The relationship between the monetary base,secondary reserves and the money supply

Utilising the criteria of predictability, stability over time, and instrument stability this paper examines the relationship between the reserve base and the money supply in Australia. Various modifications to the money supply function are made to incorporate the influence of direct monetary controls, of the overdraft lending system, and of the increased substitutability of government securities for high powered money arising from the Reserve Bank of Australia's policy of pegging government security yields. Doubt is cast on the ability of the Australian authorities to control the primary monetary aggregates on a short-run basis.     

Scale and scope economies of Australian permanent building societies in a dynamic framework

In this paper we examine the interrelationship between technological change, branching, and the multi-product cost structure of Australian Permanent Building Societies within a dynamic specification of the cost function. The results strongly support this dynamic formulation, though the speed of adjustment of costs to long-run levels is quite fast. We also find evidence of economies of scale for small societies, suggesting some potential for smaller societies to benefit from increased scale through mergers.     

On the relationship between the New York closing spot U.S.$⧸$A exchange rate and the Reserve Bank of Australia's official rate

The paper considers: (i) the hypothesis that the Reserve Bank's official U.S.$?$A spot rate may be predicted from overnight movements in the closing New York rate, and (ii) the informational content of the official rate in explaining movements in the New York rate.     

On Ethically Solvent Leaders: The Roles of Pride and Moral Identity in Predicting Leader Ethical Behavior

The popular media has repeatedly pointed to pride as one of the key factors motivating leaders to behave unethically. However, given the devastating consequences that leader unethical behavior may have, a more scientific account of the role of pride is warranted. The present study differentiates between authentic and hubristic pride and assesses its impact on leader ethical behavior, while taking into consideration the extent to which leaders find it important to their self-concept to be a moral person. In two experiments we found that with higher levels of moral identity, authentically proud leaders are more likely to engage in ethical behavior than hubristically proud leaders, and that this effect is mediated by leaders’ motivation to act selflessly. A field survey among organizational leaders corroborated that moral identity may bring the positive effect of authentic pride and the negative effect of hubristic pride on leader ethical behavior to the forefront.     

Are Reports of Discrimination Valid? Considering the Moral Hazard Effect

A bstract .   Antidiscrimination laws are designed to prompt employers to stop excluding black workers from jobs they offer and from treating them unequally with respect to promotion and salaries once on the job. However, a moral hazard effect can arise if the existence of the laws leads black employees to bring unjustified claims of discrimination against employers. It has been argued that employers may become more reluctant to hire black workers for fear of being subjected to frivolous lawsuits.
Using the Multi-City Study of Urban Inequality (MCSUI), we find that male and female black workers are far more likely than whites to report racial discrimination at work. This is the case even when a host of human capital and labor market factors are controlled for. Further, nearly all black workers who report they have been discriminated against on the job in the MCSUI Surveys also show statistical evidence of wage discrimination. This is not the case for white males or females. We find little evidence to support a moral hazard effect.     

Ads aimed at dads: exploring consumers’ reactions towards advertising that conforms and challenges traditional gender role ideologies

Employing gender role ideology theory, this research investigates Australian consumer attitudes towards current advertisements portraying males as caregivers. Results of an experiment demonstrate that consumers perceive in-ad gender role portrayals of males as caregivers as atypical of the current advertising environment. Consumers who, in particular, hold a non-traditional (egalitarian) gender role ideology report a more positive attitude towards advertising that challenges traditional gender role ideologies (i.e., advertising that depicts males as caregivers). We suggest that non-traditional advertising that challenges traditional gender roles provides advertisers with an opportunity to stand out; however, advertisers must ensure that their key product-related message components are not overshadowed.     

Business Students' Choice of Short-Term or Long-Term Study Abroad Opportunities

Recent years have seen a proliferation of short-term study abroad opportunities. Although they are both supplementing and replacing semester-long study abroad programs, research has focused primarily on semester (long-term) programs. We draw on the theory of planned behavior (TPB) to explore factors that predict why students choose long-term and short-term programs. Results indicate that students perceive more social pressure to engage in short-term programs, and higher barriers limiting participation in long-term programs. All TPB factors significantly predicted students' intentions to study abroad in both short-term and long-term programs with one exception; perceived behavioral control did not significantly predict intentions to participate in short-term programs. These findings can be used to improve marketing of short-term and long-term programs by addressing student concerns specific to each type of program, potentially increasing the number of students choosing to study abroad.