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.

In the tracks of Blinky Bill : How Sam the koala led news journalists into an Australian literary tradition

The world was captivated when footage of a badly burnt koala taking water from a Victorian Country Fire Authority volunteer was taken with a mobile phone and broadcast to the world on YouTube in February 2009. When the story of ‘Sam the Koala’ was subsequently adopted by traditional broadcast and print media, recombinant themes were used to construct her story – from heroism, patriotism, villain v victim - even romance was incorporated to entertain and create audience appeal. This paper explores how ‘Sam the Koala’ became a defining news story in the coverage of Victoria’s Black Saturday bushfires and examines the power of narrative when cross pollination occurs between new and traditional media in the production of news. It is argued that Sam’s story is evidence of journalists adopting new approaches to storytelling in a bid to retain their legitimacy as the authoritative voice of news and information in an increasingly technologically driven society.

Delivering categorized news items using RSS feeds and web services

In the past decade the massive growth of the Internet brought huge changes in the way humans live their daily life; however, the biggest concern with rapid growth of digital information is how to efficiently manage and filter unwanted data. In this paper, we propose a method for managing RSS feeds from various news websites. A Web service was developed to provide filtered news items extracted from RSS feeds and these were categorized based on classical text categorization algorithms. A client application consuming this Web service retrieves and displays such filtered information. A prototype was implemented using Rapidminer 4.3 as a data mining tool and SVM as a classification algorithm. Experimental results suggest that the proposed method is effective and saves a significant amount of user processing time.

Orientalism and the Australian news media : origins and questions

The author draws on his expertise in Middle Eastern history and Western philosophical thought, presenting an ambitious chapter that traces the origins of orientalist discourse from the 18th and 19th century Europe to the beginnings of the Australian press. The chapter identifies the parallels between this discourse and the most contemporary representations of Islam and Muslims in the Australian news media. It documents that a key challenge for those working for the Australian news media is firstly to recognise the extent to which orientalist thought influences the reporting of Islam and Muslims and then to transcend the centuries-old view of this faith and its adherents as a threatening other.

Are the Fama–French factors proxying news related to GDP growth? The Australian evidence.

Inspired by Vassalou (J Financ Econ 68:47–73, 2003), we investigate the contention that the Fama and French (J Financ Econ 33:3–56, 1993) model’s ability to explain the cross sectional variation in equity returns is because the Fama–French factors are proxying for risk associated with future GDP growth in the Australian equities market. To assess the validity of Vassalou’s findings, we augment the CAPM and the Fama–French model with a GDP growth factor and run system regressions of the GDP-enhanced models using the GMM approach. Our results suggest that news about future GDP growth is not priced in equity returns and that any ability that SMB and HML exhibit in explaining equity returns is not because they contain information about future GDP growth.

It's the economy : the effect of macroeconomic variables of the rate of suicide

Background. There are a large number of factors mediating suicide. Many studies have searched for a direct causal relationship between economic hardship and suicide, however, findings have been varied.

Method. Suicide data was obtained from the Australian Bureau of Statistics for the period between January 1968 and August 2002. These were correlated with a suite of macroeconomic data including housing loan interest rates, unemployment rates, days lost to industrial disputes, Consumer Price Index, gross domestic product, and the Consumer Sentiment Index.

Results. A total of 51 845 males and 16 327 females committed suicide between these dates. There were significant associations between suicide rates and eleven macroeconomic indicators for both genders in at least one age range. Data was divided into male and female and five age ranges and pooled ages. Analyses were conducted on these 132 datasets resulting in 80 significant findings. The data was generally stronger for indices measuring economic performance than indices measuring consumers’ perceptions of the state of the economy. A striking difference between male and female trends was seen. Generally, male suicide rates increased with markers of economic adversity, while the opposite pattern was seen in females. There were significantly different patterns in age-stratified data, with for example higher housing loan interest rates having a positive association with suicide in younger people and a negative association in older age groups.

Conclusion. Macroeconomic trends are significantly associated with suicide. The patterns in males and females are very different, and there are further substantial age-related differences.