THE AUSTRALIAN NATIONAL UNIVERSITY WORKING PAPERS IN ECONOMICS AND ECONOMETRICS Costs of Adjustment to Climate Change

THE AUSTRALIAN NATIONAL UNIVERSITY WORKING PAPERS IN ECONOMICS AND ECONOMETRICS Background Risk in Generalized Expected Utility Theory

THE AUSTRALIAN NATIONAL UNIVERSITY WORKING PAPERS IN ECONOMICS AND ECONOMETRICS Credit Channel and Risk-Based Capital Adequacy Requirements

Acknowledgement: This paper is based on one of the chapters in my PhD thesis at the Australian National University. I would like to thank Dr Graeme Wells and Dr Paul Lau for their comments and suggestions. Also appreciated are the comments from the participants of the seminar at the Australian National University. Any remaining errors are the sole responsibility of the author.

THE AUSTRALIAN NATIONAL UNIVERSITY WORKING PAPERS IN ECONOMICS AND ECONOMETRICS The Crisis and Economic Change in China*

During the Asian crisis, China’s healthy reserves and low debt made possible the avoidance of a “country run”. Nonetheless, it did experience an apparently autonomous rise in private savings, a rise in capital outflow and a slowdown in growth. This paper employs global general equilibrium analysis to examine the relative contributions of external and internal shocks in China during the crisis. ...

THE AUSTRALIAN NATIONAL UNIVERSITY Centre for Resource and Environmental Studies Ecological Economics Program Working Papers in Ecological Economics

Global and hemispheric temperatures, greenhouse gas concentrations, solar irradiance, and anthropogenic sulfate aerosols all have increased during the last one hundred and fifty years. Classical linear regression techniques will indicate a positive relationship among such series whether or not such a relation exists. Such standard techniques cannot, therefore, show whether observed temperature ...

THE AUSTRALIAN NATIONAL UNIVERSITY WORKING PAPERS IN ECONOMICS AND ECONOMETRICS Is the Lending Channel of Monetary Policy Important in Australia?

A long standing macroeconomic issue is how monetary policy a ects the real economy The lending view is that tight money a ects aggregate demand by shifting the supply schedule left in the bank loan market Previous studies have found that loans contract following tight money It is not clear whether the nancial contraction re ects a shift of the supply schedule or the demand schedule in the loan ...