835 research outputs found

    Skills Mismatch and Returns to Training in Australia:Some New Evidence

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    This paper utilises Australian data to evaluate the effect of firm-provided job training on labour income. It also examines whether training can shed light on the effects of skill-job mismatch. We employ the Heckman selection model to account for selection bias in training as well as work participation. The evidence shows that training has a significant positive impact on wages. Also, training ameliorates the disadvantage associated with the mismatch between formal education and required education. In addition, training is most valuable to the undereducated and young workers, and assists in the restoration and replenishment of human capitalTraining; Education; Overeducation; Undereducation; Earnings; Human capital depreciation

    Rational Habit Modification: the Role of Credit.

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    This paper proposes an asymmetric model within which consumer credit facilitates both consumption smoothing and rational habit modification. The model provides a better description of aggregate time series consumption data than competeting models. In particular, the model can account for the various aggregate consumption anomalies that have led to repeated rejections of Hall's (1978) random walk model of consumption. The model is applied to US data using a GMM approach. The evidence suggests that new credit can predict short-run changes in consumption and has assisted consumers to become more forward-looking since 1975.CONSUMPTION ; CREDIT ; ESTIMATOR

    Second-Generation Greek-Australian and Italian-Australian Students at Victoria University

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    This paper examines the academic performance of the second-generation Australians at Victoria University in 2007. The study utilises Australian Bureau of Statistics Census 2006 estimates of socio-economic status to investigate the roles of socio-economic background, and cultural and linguistic diversity (CALD). Attention is given to students of Greek and Italian ancestry. The study also accounts for selection bias, elite high school participation, gender, age, employment status, and study intensity. The evidence suggests that academic outcomes vary by sector, and languages-other-than- English (LOTE) are a key driver of the disadvantage observed in second-generation Australian students

    Overeducation and Overskilling in Australia: Second-Generation Greek-Australians and Italian-Australians

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    We utilise HILDA data over the period 2001–2005 to evaluate the performance of second-generation Greek-Australians and Italian-Australians in the labour market. We focus on the effect of overeducation, undereducation, languages-other-than-English (LOTE), and ethnicity on weekly earnings of full-time workers. The evidence is as follows: (a) most Greek-Australians are over-represented amongst the overeducated; (b) overeducation and overskilling can be attributed to a lack of new skills on the job, parental occupational status, non-English-speaking overseas born, and unobserved characteristics of second-generation females; (c) LOTE does not seem to make a contribution to earning of individual workers; and (d) the use of LOTE amongst the two second-generation groups has declined, though second-generation women in part-time employment are an exception

    Metal imido-catalyzed ethylene and 1-hexene dimerization

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    This thesis investigates the development of well-defined ethylene and 1-hexene dimerization pro-initiators related to the industrially important SASOL α-olefin dimerization system, which consists of WCl6/RNH2/Et3N activated by EtAlCl2. The role of Et3N in the SASOL system is to remove HCl generated from the reaction of the amine with WCl6, something that is suggestive of the possible in situ formation of tungsten imido complexes. To probe the potential role of tungsten imido species, here a range of ethylene and 1-hexene dimerization experiments are described using discrete tungsten, niobium, and tantalum imido complexes in combination with an alkyl aluminum activator (usually EtAlCl2). In order to better understand the possible dimerization mechanisms, selected reactions of the aforementioned imido complexes with alkyl aluminum reagents are also explored. Chapter 1: the industrial importance of olefins and the olefin oligomerization processes are introduced with emphasis on the SASOL α-olefin dimerization system. Mechanistic aspects of the olefin oligomerization process are outlined giving examples of previously reported ethylene and 1-hexene dimerization systems. The aims of this PhD thesis are summarized. Chapter 2: the synthesis and structural characterization of a range of tungsten bis(imido) complexes W(NR)(NR’)Cl2(DME) (R, R’ = alkyl or aryl) is presented. The activity of such complexes as pro-initiators in the dimerization of ethylene and 1-hexene is detailed and the effects of ethylene pressure, temperature, activator, pro-initiator concentration, pro-initiator:activator ratios, and use of additives explored; pro-initiator structure-catalytic activity correlations are established. Preliminary mechanistic studies of tungsten bis(imido)-mediated dimerization are described. Chapter 3: tungsten mono(imido) complexes, W(NR)Cl4(THF) and [W(NR)Cl4]2 (R = alkyl or aryl), are tested in the dimerization of ethylene and 1-hexene. Studies similar to those in Chapter 2 are described, demonstrating that such mono(imido) complexes are reasonably active and selective ethylene and 1-hexene dimerization pro-initiators. Reactions between the tungsten mono(imido) complexes and alkyl aluminum reagents are detailed, providing insight into the role of the aluminum activator in the dimerization process; these suggest that reduction of the tungsten centre is an important part of the initiation process. Hence, discrete W(IV) and W(V) mono(imido) complexes were tested for olefin dimerization, with the latter being active. The beneficial effect of additives (chloride anions, amines) in catalytic dimerization reaction is demonstrated and their mode of action probed. Chapter 4: the use of niobium and tantalum imido complexes, M(NR)Cl3(DME), as pro-initiators is explored. In contrast to their tungsten counterparts these group V imido complexes were able to both polymerize and/or dimerize ethylene, but were inactive towards1-hexene. Chapter 5: full experimental details are presented. Chapter 6: supplementary information including - reactivity of the alkyl aluminum reagents employed for the activation of the pro-initiators; definitions used in the analysis of catalysis test data (TON, etc); and development and validation of methods for the analysis of olefin dimerization products

    Synthesis and Characterisation of Phosphenium Ions with Aromatic Amido Substituents

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    σ2λ3-Phosphenium cations A are valence isoelectronic and isolobal with silenes B and hence, carbenes C. Notably, the chemistry of these divalent phosphorus cations mirrors that of their carbon-based analogues (e.g. cycloaddition hemistry, C-H insertions, etc.), making them versatile reagents in a variety of transformations and reactions. Just as for carbenes (e.g. amino carbenes D and E), a combination of kinetic and electronic stabilisation has been used to prepare and isolate stable phosphenium ions such as F, with amido substituents. This approach is also followed in this work. In particular, the synthesis, characterisation, and properties of a range of phosphenium ions (4) with alkyl or aryl amido substituents (R2N, R = alkyl or aryl) is described. The desired phosphenium ions 4 are synthesized in three steps by reacting the secondary amines 1 with nBuLi, which results in the production of the appropriate lithium amide salts (2) followed by subsequent reaction with PCl3, which yields the chlorophosphines 3. Reaction of 3 with a halogen abstracting reagent such as AlCl3 (or TMSOTf) results in the formation of phosphenium ions (4), which were studied by NMR spectroscopy and X-ray diffraction

    Intended use of IPO proceeds and firm performance: A quantile regression approach

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    This paper employs quantile regressions to investigate the link between the intended use of proceeds and the post-issue operating performance of IPO firms in Indonesia over the period of 2000-2010. The evidence presented here suggests that post-issue performance can be explained by a firm’s motivation to IPO issues. Investment in fixed assets and stock market shares associate with better performance for average and high-performing firms while other usages seem to lead to poor performance. The findings are robust when ownership structure was considered. These results have policy implications for the management of IPOs

    Stock Prices, Exchange Rates and Portfolio Equity Flows: A Toda-Yamamoto Panel Causality Test

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    Purpose – The purpose of this paper is to develop a new framework to test the hypothesis that portfolio model predicts a negative correlation between stock prices and exchange rates in a trivariate transmission channel for foreign portfolio equity investment. Design/methodology/approach – This paper utilizes panel data for eight economies to extend the Dumitrescu and Hurlin (2012) Granger non-causality test of heterogeneous panels to a trivariate model by integrating the Toda and Yamamoto (1995) approach to Granger causality. Findings – The evidence suggests that stock prices Granger-cause exchange rates and portfolio equity flows Granger-cause exchange rates. However, the overall panel evidence casts doubt on the explicit trivariate model of portfolio balance model. The study shows that Indonesia may be the only case where stock prices affect exchange rates through portfolio equity flows. Research limitations/implications – The proposed test does not account for potential asymmetries or structural shifts associated with the crisis period. To isolate the impact of the Asian Financial crisis, this paper rather splits the sample period into two sub-periods: pre- and post-crises. The sample period and countries are also limited due to the use of the balance of payment statistics. Practical implications – The study casts doubt on the maintained hypothesis of a trivariate transmission channel, as posited by the portfolio model. Policy makers of an economy may integrate capital market and fiscal policies in order to maintain stable exchange rate. Originality/value – This paper integrates a portfolio equity inflow variable into a single framework with stock price and exchange rate variables. It extends the Dumitrescu and Hurlin’s (2012) bivariate stationary Granger non-causality test in heterogeneous panels to a trivariate setting in the framework of Toda and Yamamoto (1995)
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