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| O'Mara, L. Paul; Mullen, John D.; Powell, Roy A.; Reece, B.F.. |
| Over recent years there has been marked instability in incomes earned from farming. The instability, which affects the economy generally, is transmitted partly through the consumption spending of farmers. A conventional view of the short-run marginal propensity to consume of farmers, supported by some analyses of aggregate data, is that it is zero. It is argued that this view is implausible on theoretical grounds, that the analysis giving rise to this view used aggregate data which contained serious flaws, and that evidence from micro-studies and other macro level analyses present a more realistic assessment that the short-run mpc of farmers is not zero but likely to be lower than that of non-farmers. A non-zero mpc has implications for how the farm sector... |
| Tipo: Journal Article |
Palavras-chave: Consumer/Household Economics. |
| Ano: 1988 |
URL: http://purl.umn.edu/12552 |
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| O'Mara, L. Paul; Wallace, N.A.; Meshios, Helen. |
| The real effective value of the Australian dollar declined sharply between early 1985 and September 1986. 'Market fundamentals' associated with the deterioration in Australia's terms of trade and current account, and rising foreign debt levels are the commonly cited explanation for the decline. However, several other shorter term influences may have also contributed. Theoretical and empirical analysis indicates that market fundamentals might explain, at most, 20 percentage points of the 37 per cent decline in the rate over this period. Thus, a significant real appreciation would be expected over the medium term prior to, and quite independently of, any recovery in Australia's terms of trade in general or in world farm commodity prices in particular. |
| Tipo: Journal Article |
Palavras-chave: Financial Economics. |
| Ano: 1987 |
URL: http://purl.umn.edu/22272 |
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| O'Mara, L. Paul; Bartley, Scott W.; Ferry, R.N.; Wright, Robert S.; Calder, M.F.; Douglas, Justin J.. |
| The impact of structural changes in fiscal policy on macroeconomic stability in Australia and other developed economies since the mid‐1970s is assessed. The evidence points to a destabilising influence from fiscal policy from the mid‐1970s to the mid‐1980s, with a more stabilising influence since then. Within Australia, there is some evidence that structural changes to fiscal policy may have helped to stabilise interest rates and the real exchange rate over the period since the mid‐1980s. However, this stabilising influence on the real exchange rate may have reduced the extent to which real exchange rate movements have countervailed world commodity price changes in Australian dollar terms. |
| Tipo: Journal Article |
Palavras-chave: Agricultural Finance. |
| Ano: 1999 |
URL: http://purl.umn.edu/117039 |
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| O'Mara, L. Paul. |
| Minimum pricing arrangements for grapes taken up by wineries in Australia arc briefly reviewed. A partial equilibrium model is developed to illustrate the implications of such arrangements for income transfers and dead-weight losses in both the grape and wine markets. An attempt is made to incorporate the contingencies of the long lead times associated with grape production and the possible occurrence of monopsonistic behaviour by wineries. The analysis is theoretical, so that, while directed specifically at the wine grape industry in Australia, much of it is relevant to other instances of minimum pricing for agricultural commodities. |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis. |
| Ano: 1981 |
URL: http://purl.umn.edu/12427 |
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