Talk of ‘platforms’ – or the ‘sharing economy’ – sometimes seems to be ubiquitous. But how significant is this model, and what kinds of policy and regulatory issues is it raising?
Despite impressive economic performance, Vietnam’s strong trade and investment gains have yet to fully overcome the vestiges of its economic past.
The Tomorrowland summit brought together architects, engineers, academics, scientists, investors and industry around the future of the built environment: resilience and net zero carbon buildings.
This research paper outlines a three pronged strategy that would help achieve better outcomes for all Australians and foster public confidence in open markets.
This report analyses the financial performance of the New Zealand fuel sector from 2011 to 2015.
Urgent action is needed to reduce the risk of power blackouts and restrictions across eastern Australia this summer, but there is an acute danger of politicians panicking and rushing to decisions that push electricity prices higher and make it harder to reduce Australia’s emissions.
It seems that you can ask the Coalition government pretty much any question – about plunging polls, Donald Trump, Cory Bernardi or even the weather – and the answer will always be the same: “We’re focused on electricity prices.”
Great. But what exactly is...
This report discusses electricity market design and regulation under high volumes of variable renewable energy sources (VRE) such as wind and solar power. It includes policy recommendations on how to reform current market and regulatory frameworks in order to accommodate high shares of VRE, in...
An important component of the Basel Committee on Banking Supervision's framework of capital measurement and capital standards is the public disclosure of regulatory information (referred to as “Pillar 3” within the framework). The standard sets minimum requirements for the public disclosure of information on banks’...
This report discusses how high frequency trading (HFT) has changed the dynamics of the market and whether traditional academic measures of market “quality” are relevant in the new world of electronic trading. Using existing measures of market quality, which were designed over 20 years ago,...
The paper tracks the development of the Australian vocational education and training (VET) provider market over the last two decades in the context of significant policy changes and generally increased competition. It provides an insight into how the sector has arrived at...
The net effects of algorithmic and high-frequency traders mask considerable heterogeneity in how they impact institutional transaction costs. Using regulatory data, we analyze the heterogeneity across individual trading accounts. We develop a method to identify subsets of traders causally related to higher institutional transaction costs...
This working paper presents the results of a detailed comparative empirical study of sanctions imposed for insider trading in Australia, Canada (Ontario), Hong Kong, Singapore, New Zealand, the United Kingdom, and the United States. Insider trading is considered to be a serious form of misconduct...
A study of market bubbles is generally considered a test of market eciency (or ineciency) since bubbles are concerned with rising prices that are detached from their fundamental values. Verifying the existence of such an ineciency requires us to be able to appropriately formulate fundamental...
It's hard to name an Aussie industry that isn't dominated by a handful of companies, and we all suffer for it. A new analysis proves what we've always known: Australia is prime breeding ground for monopolists, moguls and cartels.
According to the analysis by...
Democracy has always had a rather fraught relationship with the market. As Aristotle first recognised, some wealth sharing can help rectify inherited inequality and so enhance political life; but it also has the potential to promote greed, doing great violence to the civic fabric....
We introduce an endogenous network model of the interbank overnight lending market. Banks are motivated to meet the minimum reserve requirements set by the Central Bank, but their reserves are subject to random shocks. To adjust their expected end-of-the-day reserves, banks enter the interbank market,...
The 2016 EU Drug Markets Report provides a unique insight into the operation of illicit drug markets in the EU. The report assesses the impact of the drug market on society and the factors driving it. It explores the market for cannabis, heroin, cocaine, amphetamines,...
In this paper we investigate if directors of Australian companies earn persistent profits on their reported trades, if these abnormal profits are significant enough to be mimicked by outsiders, and if these insider trades have an effect on returns of other investors. We find that...
Purpose - This paper attempts to draw a conceptual outline of how the market share – distribution relationship may be characterised in the wine category. The aim of this paper is to explain the potential contribution of future research in this...