Is there a unit root in the inflation rate? New evidence from panel data models with multiple structural breaks

In this article, we examine whether or not the inflation rate for 17 OECD countries can be modelled as a stationary process. We find that (1) conventional univariate unit root tests without any structural breaks generally reveal that the inflation rate contains a unit root; (2) the KPSS univariate test with multiple structural breaks reveals that for 10 out of 17 countries inflation is stationary; and (3) the KPSS panel unit root test reveals strong evidence for stationarity of the inflation rate for panels consisting of countries which were declared nonstationary by univariate tests.

Attendance and pricing at sporting events : empirical results from Granger Causality Tests for the Melbourne Cup

This study applies Granger causality tests to examine the relationship between attendance, admission prices and real income at the Melbourne Cup, which is Australia's premier horseracing event and one of the world's leading handicap races. The motivation for the paper is that while market demand suggests that causation should run from admission price to attendance, it is equally plausible that sporting authorities could alter admission prices in response to a change in demand reflected in attendance. The main findings are that in the short-run there is unidirectional Granger causality running from income to attendance, attendance to admission price and income to admission price, while in the long run both admission price and income Granger cause attendance.

Structural breaks and unit roots in Australian macroeconomic time series

We examine the unit root properties of 16 Australian macroeconomic time series using monthly data spanning the period 1960–2004. In addition to the standard Augmented Dickey Fuller (ADF) test, we implement one- and two-break endogenous structural break ADF-type unit root tests as well as one- and two-break Lagrange multiplier (LM) unit root tests. While the ADF test provides relatively little evidence against the unit root null hypothesis, once we allow for structural breaks we are able to reject the unit root null for just under half of the variables at the 10% level or better.

Electricity consumption in G7 countries : a panel cointegration analysis of residential demand elasticities

This article applies recently developed panel unit root and panel cointegration techniques to estimate the long-run and short-run income and price elasticities for residential demand for electricity in G7 countries. The panel results indicate that in the long-run residential demand for electricity is price elastic and income inelastic. The study concludes that from an environmental perspective there is potential to use pricing policies in the G7 countries to curtail residential electricity demand, and thus curb carbon emissions, in the long run.

Issues arising from the implementation of a comprehensive assessment approach in a large, multi-modal Bachelor of Commerce unit

Recent literature in higher education argues university assessment has been too narrow and hasn’t adequately reflected the quality, breadth and depth of students’ learning. Research shows students often prioritise and learn what they need to know for formal, graded assessment and disregard other academic content seen as less relevant to those requirements. The predominance of essays and examinations has therefore tended to constrain learning. The case for a more comprehensive approach has been clearly articulated. So what happens when staff take up the unique challenge of designing fair and uniform assessment for a large, core, multi-modal, multi-campus unit offered nationally and internationally?

When developing an undergraduate Bachelor of Commerce unit at Deakin University, staff considered the most appropriate ways to assess a range of conceptual understandings and communication skills. This resulted in the mapping and adoption of a comprehensive approach incorporating teacher, peer, and self-assessment aspects, individual and group work, oral and written presentations, and the use of portfolios and journals. Particular practices were adopted to control workloads, ensure fairness in marking, and overcome some problems generally associated with group work. When implementing the approach, practical issues arose that demanded adjustments. This paper details the approach taken, outlines research activities, and discusses the practical implications of issues that arose.

Museum pricing in contemporary museums : a hybrid model

What are the museum pricing strategies in contemporary western museums? A large qualitative study on museum pricing decisions was conducted between 2001 and 2009, based on thirty case studies in Canada, United Kingdom, Italy, Spain, France Australia. Results show that the different strategic motivations of price decisions fonn a hybrid model. The hybrid model varies according to unequal organisational learning of the strategic role of pricing in the international museum community. A discussion about these results enables us to understand how this hybrid pricing model in contemporary museums denotes their hybrid transitional identity.

Passing time in Clifton Court : an ethnographic study of a unit for confused older people

An exploration of how the residents of a 30 bed unit for confused older people spent their time and a description of the impact upon this of any associated factors. The study demonstrates that it is possible for for elders with dementia and mental health problems to enjoy a range of activities, however, these need to be individualised to take into account the skills they have to meet the challenges with which they are presented. The informed contribution from the activities personnel and the support of nurses is vital to ensure a high quality of social interaction. Sound leadership at the clinical level is essential.

Critical ethnographic study of an intensive care unit in Hong Kong

This critical ethnographic study was initiated to explore the ways in which the concepts of caring and caring practices were constructed by nurses working in an intensive care unit in a Hong Kong hospital using a broadly Habermasian critical framework. A reform of the health care system has disturbed both the nurses and the structure of nursing.