The University of Western Australia

UWA Staff Profile

Ipsum Lorem

Ken Clements

Professor Ken Clements

Professor
Economics (UWA Business School)

Contact details
Address
Economics (UWA Business School)
The University of Western Australia (M251)
35 Stirling Highway
CRAWLEY WA 6009
Australia
Phone
+61 8 6488 2898
Fax
+61 8 6488 1035
Email
Ken.Clements@uwa.edu.au
Qualifications
BEc MEc Monash, PhD Chic., FASSA
Biography
Ken Clements has been at The University of Western Australia since 1981 as a Professor of Economics and since 2008, BHP Billiton Research Fellow. He is a generalist economist with interests in international economics, monetary economics and applied microeconomics. His research has been supported by grants from BHP Billiton and the Australian Research Council. He has recently published research in the American Journal of Agricultural Economics, Journal of Business, European Economic Review and the Journal of International Money and Finance. Cambridge University Press has published two of his books, Economics and Marijuana (with X. Zhao, 2009) and Currencies, Commodities and Consumption (2013).

Clements is a Fellow of the Academy of Social Sciences in Australia; received a Citation for Outstanding Contributions to Student Learning from the Australian Learning and Teaching Council; and served as a Member of the ERA 2015 Economics and Commerce Research Evaluation Committee, Australia Research Council.

Since its inception in 1987, Clements has been centrally involved with the annual UWA-ANU-Monash-UQ PhD Conference in Economics and Business. This has attracted something like 800 PhD students from a large number of universities in Australia, New Zealand and elsewhere. He has supervised research students working in a variety of areas such as monetary economics, resource economics, international consumption patterns and exchange-rate economics.

Education
PhD (in Economics), The University of Chicago, 1977
Master of Economics, Monash University, 1974
Bachelor of Economics (First Class Honours), Monash University, 1973
Key research
International economics, monetary economics and applied microeconomics
Publications
Career 10 best

“Price Elasticities of Food Demand: Compensated vs Uncompensated” (with J. Si). Health Economics (2015). DOI: 10.1002/hec.3226 http://authorservices.wiley.com/bauthor/onlineLibraryTPS.asp?DOI=10.1002/hec.3226&ArticleID=4205154

Currencies, Commodities and Consumption. Cambridge: Cambridge University Press, 2013. Paperback edition 2016. Pp. i-xvii, 1-381.

“Quality, Quantity, Spending and Prices” (with G. Gao). European Economic Review 56 (2012): 1376-91.

“A New Approach to Forecasting Exchange Rates” (with Y. Lan). Journal of International Money and Finance 29 (2010): 1424-37.

“Affluence and Food: A Simple Way to Infer Incomes” (with D. L. Chen). American Journal of Agricultural Economics 92 (2010): 909-26.

Economics and Marijuana: Consumption, Pricing and Legalisation (with X. Zhao). Cambridge: Cambridge University Press, 2010. First paperback edition 2014. Pp. i-xviii, 1-422.

“Pricing and Packaging: The Case of Marijuana” Journal of Business 79 (2006): 2019-44.

“Stochastic Index Numbers: A Review” (with H. Y. Izan and E. A. Selvanathan). International Statistical Review 74 (2006): 235-70.

“The Measurement of Inflation: A Stochastic Approach” (with H. Y. Izan). Journal of Business and Economic Statistics, 5 (1987): 339-50.

Applied Demand Analysis: Results from System-Wide Approaches (with H. Theil). Cambridge, Mass.: Ballinger Publishing Co., 1987. Pp. i-xxii, 1-279.

Journal Article (refereed, including accepted and in-press)

“Price Elasticities of Food Demand: Compensated vs Uncompensated” (with J. Si). Health Economics (2015). DOI: 10.1002/hec.3226 http://authorservices.wiley.com/bauthor/onlineLibraryTPS.asp?DOI=10.1002/hec.3226&ArticleID=4205154

“Understanding New Resource Projects” (with J. Si and T. Simpson). Review of Income and Wealth (2015). http://onlinelibrary.wiley.com/doi/10.1111/roiw.12172/pdf

“The Rotterdam Demand Model Half a Century On” (with G. Gao). Economic Modelling 49 (2015): 91-103.

“A Guide to Information on Australian Resource Projects” (with J. Si and T. Simpson). Australian Economic Review 47 (2014): 563–73.

“Volatility and Stock Price Indexes” (with H. Y. Izan and Y. Lan). Applied Economics 45 (2013): 3255-62.

“Quality, Quantity, Spending and Prices” (with G. Gao). European Economic Review 56 (2012): 1376-91.

“The Pay Parity Matrix: A Tool for Analysing the Structure of Pay” (with H. Y. Izan). Applied Economics 44 (2012): 4515-25.

“The Big Mac Index Two Decades On: An Evaluation of Burgernomics” (with Y. Lan and S. P. Seah). International Journal of Finance and Economics 17 (2012): 31–60.

“The Investment Project Pipeline: Cost Escalation, Lead-Time, Success, Failure and Speed” (with J. Si). Australian Journal of Management 36 (2011): 317–48.

A Self-Reflective Inverse Demand System” (with M. Maesepp). Applied Economics Letters 18 (2011): 1739-43.

“Affluence and Food: A Simple Way to Infer Incomes” (with D. L. Chen). American Journal of Agricultural Economics 92 (2010): 909-26.

“A New Approach to Forecasting Exchange Rates” (with Y. Lan). Journal of International Money and Finance 29 (2010): 1424-37.

“The Demand for Marijuana, Tobacco and Alcohol: Inter-Commodity Interactions with Uncertainty” (with Y. Lan and X. Zhao). Empirical Economics 39 (2010):203-239.

“The PhD Conference in Economics and Business Two Decades On” Economic Papers 29, No. 2, June 2010:169-180.

“The International Volatility of Growth” (with A. Chan). International Economics and Finance Journal Vol 4. No 1-2 (2009): 1-22.

“A Stochastic Measure of International Competitiveness” (with H. Y. Izan and Y. Lan). International Review of Finance 9 (2009): 51-81.

“Exchange-Rate Economics for the Resources Sector” (with Y. Lan and J. Roberts). Resources Policy 33 (2008):102-17.

“Commodity Currencies and Currency Commodities” (with R. Fry). Resources Policy 33 (2008): 55-73. Reprinted in M. P. Taylor and M. Manzur (eds) Recent Developments in Exchange-Rate Economics. Cheltenham, UK: Edward Elgar, 2013. Pp. 700-18.

“The Stairway to the Top: The Remuneration of Academic Executives” (with H. Y. Izan). Australian Journal of Management 33 (2008): 1-30. Awarded the E. Yetton Award for the best paper published in 2008 in the Australian Journal of Management.

“Price Elasticities of Demand are Minus One-Half” Economics Letters 99 (2008): 490-93.

“More on Stochastic Index Numbers” (with E A Selvanathan). Applied Economics 39 (2007): 605-11.

“Exchange Rates, Productivity, Poverty and Inequality” (with Y. Lan). Applied Economics 39 (2007): 471-76.

“Pricing and Packaging: The Case of Marijuana” Journal of Business 79 (2006): 2019-44.

“Stochastic Index Numbers: A Review” (with H. Y. Izan and E. A. Selvanathan). International Statistical Review 74 (2006): 235-70.

“Comparing International Consumption Patterns” (with Y. Wu and J. Zhang). Empirical Economics 31 (2006): 1-30.

“Exogenous Shocks and Related Goods: Drinking and the Legalisation of Marijuana” (with M. Daryal). Economics Letters 89 (2005): 101-106.

“Larry Sjaastad, The Last Chicagoan” Journal of International Money and Finance 24 (2005): 859-72.

“Three Facts about Marijuana Prices” Australian Journal of Agricultural and Resource Economics 48 (2004): 271-300.

“Who Cites What?” (with P.Wang). Economic Record 73 (2003): 229-44.

“The Economics of Global Consumption Patterns” (with Y. Qiang). Journal of Agricultural and Applied Economics, Supplement, 34 (2002): 21-37.

“Hans Theil: Producer, Marketer and Consumer Extraordinaires” Journal of Agricultural and Applied Economics, Supplement 34 (2002): 19-20.

“World Fibres Demand” (with Y. Lan). Journal of Agricultural and Applied Economics 33 (2001): 1-23.

“The Regional Economic Impact of Reducing Greenhouse Gas Emissions: Western Australia” (with H. Ahammad and Y. Qiang). Resources Policy 27 (2001): 225-33.

“The Matrix Approach to Evaluating Demand Equations” (with W. Yang and D. L. Chen). Applied Economics 33 (2001): 957-67.

“Henri Theil, 1924 - 2000” International Journal of Forecasting 17 (2001): 141-42.

“Energy Costs in the WA Minerals Industry” (with Y. Qiang). WA Economic Review Autumn 2001: 8.1-8.16.

“The Minerals Industry and Employment in Western Australia: Assessing its Impacts in Federal Electorates” (with P. L. Johnson). Resources Policy 26 (2000): 77-89.

“The World Real Interest Rate: Stochastic Index Number Perspectives” (with L. L. Ong and H. Y. Izan). Journal of International Money and Finance 18 (1999): 225-49. Reprinted in M. Manzur, ed, Exchange Rates, Interest Rates and Commodity Prices. Cheltenham, UK, and Northampton, MA, USA: Elgar, 2002. Pp. 98-126.

“What Does Minerals Growth Mean to WA?” (with H. Ahammad). Resources Policy 25 (1999): 1-14.

“Ten Years of the PhD Conference in Economics and Business” (with Y. Qiang). Economic Record 75 (1999): 301-12.

“Is Utility Additive? The Case of Alcohol” (with W. Yang and S. W. Zheng). Applied Economics 29 (1997): 1163-67.

“The ERC Input-Output Table for Western Australia” (with Y. Qiang). Western Australian Economic Review 16 (1997): 8.1 - 8.18.

“New Mining and Mineral-Processing Projects in Western Australia: Effects on Employment and the Macroeconomy” (with H. Ahammad and Y. Qiang). Resources Policy 22 (1996): 293-346.

“Fundamental Similarities in Consumer Behaviour” (with D. L. Chen). Applied Economics 28 (1996): 747-57.

“Empirical Regularities in Consumption Patterns in Emerging Economies” (with D. L. Chen). The Developing Economies 34 (1996): 219-46.

“Applied Demand Analysis: A Survey” (with E. A. Selvanathan and S. Selvanathan). Economic Record 72 (1996): 63-81.

“The Production of PhDs in Economics and Business by Australian Universities” (with D. Chenhall). Economic Papers 14 (1995): 49-66.

“Understanding Consumption Patterns” (with S. Selvanathan). Empirical Economics 19 (1994): 69-110.

“Real Exchange Rates and Divisia Moments of World Trade” (with M. Manzur and D. L. Chen). Economics Letters 36 (1991): 77-79.

“Forecasting Steel Demand in China” (with D. L. Chen, E. J. Roberts and E. J. Weber). Resources Policy September 1991: 196-210.

“The Economic Determinants of Alcohol Consumption” (with S. Selvanathan). Australian Journal of Agricultural Economics 35 (1991): 209-31.

“The Economic Research Centre at UWA” Economic Papers 8 (1989): 90 96.

“The Rotterdam Demand Model and its Application in Marketing” (with E. A. Selvanathan). Marketing Science 7 (1988): 60-75.

“The Measurement of Inflation: A Stochastic Approach” (with H. Y. Izan). Journal of Business and Economic Statistics 5 (1987): 339 50.

“ORANI-WINE: Tax Issues and the Australian Wine Industry” (with G. A. Meagher, B. R. Parmenter and R. J. Rimmer). Review of Marketing and Agricultural Economics 53 (1985): 47-62.

“The Demand for Energy Used In Secondary Industry” Resources and Energy 7 (1985): 179 201.

“A Cross Sectional Analysis of Asset Holdings” (with H. Y. Izan). Journal of Business Research 13 (1985): 473-81.

“A Conditional Version of Working’s Model” (with P. S. Goldschmidt and H. Theil). Economics Letters 18 (1985): 97-99.

“Frisch’s Conjecture and the Own Price Elasticity of Demand for Food” (with R. Finke and H. Theil). Economics Letters 15 (1984): 1-4.

“Estimates of the Generalized Working Model” (with M. D. Smith). Economics Letters 16 (1984): 171 75.

“A Simple Portfolio Allocation Model of Financial Wealth” (with J. C. Taylor). European Economic Review 23 (1983): 241-51.

“An International Comparison of the Price of Nontraded Goods” (with M. Semudram). Weltwirtschaftliches Archiv 119 (1983) 356-63.

“Disparities in Income Elasticities by Ethnic Origin” (with L. W. Johnson). Economics Letters 11 (1983): 391-97.

“The Demand for Energy Used in Transport” Australian Journal of Management 8 (1983): 27 56.

“The Demand for Beer, Wine and Spirits: A System-Wide Analysis” (with L. W. Johnson). Journal of Business 56 (1983): 273-304. Reprinted in T.J. Coyne (ed) Readings in Managerial Economics, 4th Edition, 1985, Business Publications, Inc., Plano, Texas. Pp.127-155. Reprinted in T.J. Coyne (ed) Readings in Managerial Economics, 5th Edition, 1992, Coyne Publishing, Bath, Ohio. Pp. 72-102.

“More on Tariffs and Nontraded Goods” Economics Letters 9 (1982): 95 98.

“More on an Aggregative Multiproduct Supply Model” (with H. Y. Izan). European Economic Review 17 (1982): 271-76.

“Inflation and Relative Prices: A Decomposition Analysis” (with P. Nguyen). Economics Letters 9 (1982): 257-62.

“Holdings of Financial Assets: A Markov Chain Analysis” (with J. S. Anderson). Statistics and Probability Letters 1 (1982): 36 40.

“The Forward Rate as a Predictor of the Spot Exchange Rate: An Analysis of Four Major Currencies” (with V. Argy). Economies et Societes 16 (1982): 569-96.

“Divisia Moments of Australian Consumption” Economics Letters 9 (1982): 43 48.

“A Note on the Interpretation and Estimation of Parkin’s Discount House Portfolio Model” Review of Economic Studies 48 (1981): 533 35.

“A Note on Estimating Divisia Index Numbers” (with H. Y. Izan). International Economic Review 22 (1981): 745-47: corrigendum, 23 (1982): 499.

“The Monetary Approach to Exchange Rate Determination: A Geometric Analysis” Weltwirtschaftliches Archiv 117 (1981): 20-29.

“Inflation and Relative Prices: A System-Wide Approach” (with P. Nguyen). Economics Letters 7 (1981): 131-37.

“The Incidence of Tariffs: Simulation Results” (with H. Y. Izan). Economics Letters 8 (1981): 169 75.

“Growth in Holdings of a New Financial Asset: A Logistic Analysis” (with J. Broadbent and L. W. Johnson). Australian Journal of Management 6 (1981): 1 6.

“The Determinants of Holdings of Financial Assets in Australia” (with J. C. Taylor). Australian Journal of Management 6 (1981): 17-25; correction, 7 (1982): 101 102.

“Changes in the Size of the Traded Goods Sector: Theory and Applications” Empirical Economics 6 (1981): 203-13.

“Recent Methodological Advances in Economic Equation Systems” (with H. Theil). American Behavioral Scientist 23 (1980): 789-809. Reprinted in B. Raj and J. Koerts (eds) Henri Theil’s Contributions to Economics and Econometrics, Volume 1 Econometric Theory and Methodology. Dordrecht, Boston and London: Kluwer Academic Publishers, 1992. Pp. 193-213.

“Money Demand, Consumer Demand and Relative Prices in Australia” (with P. Nguyen). Economic Record 56 (1980): 338-46.

“A General Equilibrium Econometric Model of the Open Economy” International Economic Review 21 (1980): 469-88.

“Exchange Rates, Money and Relative Prices: The Dollar-Pound in the 1920’s” (with J. A. Frenkel). Journal of International Economics 10 (1980): 249 62.

“Economic Monetary Aggregates: Comment” (with P. Nguyen). Journal of Econometrics 14 (1980): 49-53.

“An Aggregative Multiproduct Supply Model” European Economic Review 13 (1980): 239 45.

“Unanticipated Money, ‘Disequilibrium’ Modelling and Rational Expectations” (with P. D. Jonson). Economics Letters 2 (1979): 303 308.

“Specific Complements and the Demand for Money in Australia” (with J. F. Meisner). Economics Letters 3 (1979): 207-10.

“Protection and Commercial Policy: Experiments with a General Equilibrium Econometric Model” Empirical Economics 4 (1979): 135-48. Reprinted in Spanish in Cuadernos Economicos de ICE 14 (1980): 59-74.

“Measurement Error and the Demand for Money in Australia” (with J. F. Meisner). Economics Letters 4 (1979): 337-40.

“Estimating the Price Deflator for Nominal Cash Balances” (with P. Nguyen). Economics Letters 3 (1979): 175-78.

“A Cross Cross Section Analysis of Consumption Patterns” (with H. Y. Izan). Economics Letters 4 (1979): 83-86.

“A Cross Country Tabulation of Income Elasticities of Demand” (with F. Suhm and H. Theil). Economics Letters 3 (1979): 199-202.

“A Simple Method of Estimating Price Elasticities in International Trade” (with H. Theil). Economics Letters 1 (1978): 133-37.

“A Linear Expenditure System with Adjustment Costs” (with M. Evans, D. S. Ironmonger and A.A. Powell). Economic Record 54 (1978): 321 33.

“A Differential Approach to U.S. Import Demand” (with H. Theil). Economics Letters 1 (1978): 249 52.

“The Demand for Traded and Nontraded Goods in the U.S,” Economics Letters 1 (1978): 361 64.

“A Linear Allocation of Spending Power System: A Consumer Demand and Portfolio Model” Economic Record 52 (1976): 182-98.

Books

Currencies, Commodities and Consumption. Cambridge: Cambridge University Press, 2013. Pp. i-xvii, 1-381. Paperback edition 2016, ISBN: 9781316601112. http://www.cambridge.org/us/academic/subjects/economics/macroeconomics-and-monetary-economics/currencies-commodities-and-consumption?format=PB

Economics and Marijuana: Consumption, Pricing and Legalisation (with X. Zhao). Cambridge: Cambridge University Press, 2009. Pp. i-xviii, 1-422. First paperback edition 2014.

The Great Energy Debate: Energy Costs, Minerals and the Future of the Western Australian Economy (with Y. Qiang and R. A. Greig). Perth: University of Western Australia Press, 2002. Pp. i-xiv, 1-169.

Resources Policy, Special Issue: Western Australia (co-edited with P. Maxwell). Exeter: Elsevier Science, 1996. Pp. i-iii, 293-358.

Recent Developments in Applied Demand Analysis: Alcohol, Advertising and Global Consumption (co-edited with E.A. Selvanathan). Berlin/Heidelberg: Springer-Verlag, 1995. Pp. i-xxvii, 1-396.

Modelling Large Scale Resource Development Projects in an Open Economy: The Case of Australia’s North West Shelf Gas Project (with R.A. Greig). Mt. Pleasant, Michigan: The Blackstone Company, Studies in Urban and Resource Economics, 1994. Pp. i-xviii, 1-151.

International Economics Postgraduate Research Conference Volume (co-edited with R.G. Gregory and T. Takayama). Supplement to the Economic Record, 1991. Pp. i-v, 1-117.

Exchange Rates and Australian Commodity Exports (co-edited with J. Freebairn). Melbourne and Perth: Centre of Policy Studies, Monash University and Economic Research Centre, The University of Western Australia, 1990. Pp. i iii, 1 150.

Applied Demand Analysis: Results from System-Wide Approaches (with H. Theil). Cambridge, Mass.: Ballinger Publishing Co., 1987. Pp. i xxii, 1 279.

How Protection Taxes Exporters (with L.A. Sjaastad). Thames Essay No. 39. London: Trade Policy Research Centre, 1984. Pp. i-xii, 1 71.

The Trade Balance in Monetary General Equilibrium. New York and London: Garland Publishing, Inc., 1984. Pp. i-vii, 1-122.

Book Chapters

“The Economics of Marijuana Consumption” (with M. Daryal). Chapter 10 in S. Selvanathan and E. A. Selvanathan (eds) The Demand for Alcohol, Tobacco and Marijuana: International Evidence. Aldershot: Ashgate, 2005. Pp. 243-67.

“How Long is the Long Run? Evidence from the Foreign Exchange Market” (with Y. Lan). In H. Pan, D. Sorette and K. Kortanek (eds) Intelligent Finance: A Convergence of Mathematical Finance with Technical and Fundamental Analysis. Proceedings of the First International Workshop on Intelligent Finance, Melbourne, 2004. Pp. 74-88.

“The Demand Analysis Package 2000 (DAP 2000)” (with W. Yang and D. L. Chen). In E. A. Selvanathan and S. Selvanathan International Consumption Patterns. Singapore: World Scientific, 2003. Pp. 295-320.

“Notes on Exchange Rates and Commodity Prices” (with M. Manzur). In M. Manzur, ed, Exchange Rates, Interest Rates and Commodity Prices. Cheltenham, UK, and Northampton, MA, USA: Elgar, 2002. Pp. 145-56.

“Simulating Demand Systems” (with D. L. Chen). In D. L. Chen World Consumption Economics. Singapore: World Scientific, 1999. Pp. 198-212.

“A Cross-Country Analysis of Consumption Patterns” (with H. Theil). In H. Theil Studies in Global Econometrics. Dordrecht: Kluwer Academic Publishers, 1996. Pp. 95-108.

“Empirical Regularities in Consumption Patterns” (with S. Selvanathan). Chapter 2 in E. A. Selvanathan, and K. W. Clements (eds) Recent Developments in Applied Demand Analysis: Alcohol, Advertising and Global Consumption. Berlin/Heidelberg: Springer-Verlag, 1995. Pp. 73-121.

“The Economic Theory of the Consumer” (with S. Selvanathan and E. A. Selvanathan). Chapter 1 in E. A. Selvanathan and K. W. Clements (eds) Recent Developments in Applied Demand Analysis: Alcohol, Advertising and Global Consumption. Berlin/Heidelberg: Springer-Verlag, 1995. Pp. 1-72.

“The Economics of Drinking and Smoking” In D. Collins and H. Lapsley (eds) Proceedings of an International Symposium on the Economics of Drug Abuse. Canberra, 1995.

“The Demand for Alcoholic Beverages” (with S. Selvanathan). Chapter 6 in E. A. Selvanathan and K. W. Clements (eds) Recent Developments in Applied Demand Analysis: Alcohol, Advertising and Global Consumption. Berlin/Heidelberg: Springer-Verlag, 1995. Pp. 221-257.

“The Economics of the North West Shelf Project” (with R. A. Greig). In M. R. Johnson, P. Kriesler and A. D. Owen (eds) Issues in Australian Economics. St. Leonards: Allen and Unwin, 1994. Pp. 191-210.

“Real Exchange Rates and World Trade” (with M. Manzur and D. L. Chen). Chapter 4 in M. Manzur Exchange Rates, Prices and World Trade: New Methods, Evidence and Implications. London and New York: Routledge, 1993. Pp. 123-79.

“Henri Theil’s Contributions to Demand Analysis” (with E. A. Selvanathan and S. Selvanathan). In R. Bewley and T. V. Hoa (eds) Contributions to Consumer Demand and Econometrics: Essays in Honor of Henri Theil. London: Macmillan, 1992. Pp. 74-104.

“Comment” (on “Mrs.Thatcher’s Industrial Performance: Lessons from the UK” by J. E. Haskel and J. A. Kay). In F. H. Gruen (ed) Australian Economic Policy. Canberra: Centre for Economic Policy Research, ANU, 1991. Pp. 232-34.

“The Mineral Sands Industry Its Economic Importance” (with M. Duncanson). Making The Most of the South West: A Resources Perspective. Perth: The Chamber of Mines of Western Australia, 1988. Pp. 63 73.

“The Pattern of Financial Asset Holdings in Australia” (with J. C. Taylor). In M. L. King and D. E. A. Giles (eds) Specification Analysis in the Linear Model (In Honor of Donald Cochrane). London and New York: Routledge and Kegan Paul, 1987. Pp. 268-88.

“Perspectives on Exchange Rate Regimes” In C. D. Campbell and W. R. Dougan (eds) Alternative Monetary Regimes. Baltimore and London: The Johns Hopkins University Press, 1986. Pp. 110-15.

“Special Purpose Versions of a General Purpose Multisectoral Model: Tax Issues and the Australian Wine Industry” (with G.A. Meagher, B.R. Parmenter and R.J. Rimmer). In J. Piggott and J. Whalley (eds) New Developments in Applied General Equilibrium Analysis. Cambridge: Cambridge University Press, 1985. Pp. 283-92.

“Taxation of Alcohol in Australia” In J. G. Head (ed) Taxation Issues of the 1980s. Sydney: Australian Tax Research Foundation, 1983. Pp. 365-84.

“Perspectives on the Effects of Inflation in Australia” In A.R. Pagan and P. K. Trivedi (eds) The Effects of Inflation: Theoretical Issues and Australian Evidence. Canberra: Centre for Economic Policy Research, Australian National University, 1983. Pp. 362-69.

“Exchange Rates in the 1920’s: A Monetary Approach” (with J. A. Frenkel). In M. J. Flanders and A. Razin (eds) Development in an Inflationary World. New York: Academic Press, 1981. Pp. 283-318.

“Comment” (on “Household Saving and Consumption in the 1970’s” by R. A. Williams). W. E. Norton and I. W. Little (eds) Conference in Applied Economic Research, Sydney: Reserve Bank of Australia, 1979. Pp. 164 66.

“Devaluation in an Empirical General Equilibrium Model” In J. A Frenkel and H. G. Johnson (eds) The Economics of Exchange Rates: Selected Studies. Reading, Mass: Addison-Wesley, 1978. Pp. 193 211.

Monographs

“Larry Sjaastad, 1934-2012” (with H. Genberg, A. Harberger, J. Lothian, R. Mundell, H. Sonnenschein and G. Tolley). Economics Discussion Paper 13.03, Business School, The University of Western Australia.

UWA Economics Honours. Crawley: UWA Business School, 2012. Pp 1-74. This booklet records the last three decades of history of the Economics Honours Program at UWA and the achievements of graduates.

“The Larry Sjaastad Letters, I and II” (compiled with M. J. Tcha). Discussion Papers Nos. 04.15 and 04.16, Economics Program, The University of Western Australia.

A New Input-Output Table for Western Australia (with Y. Qiang). Nedlands: Economic Research Centre, The University of Western Australia, 1995. Pp. i-vii, 1-183.

“The Swan Model of the Demand for Beer in Western Australia” Discussion Paper No. 93.14, Department of Economics, The University of Western Australia, July 1993.

Other

“Foreword” to M. J. Tcha (ed) Gold and the Modern Economy. London: Routledge, 2003. Pp. xiiv-xiv.

“Distinguished Fellow of the Economic Society of Australia, 2002: Richard Hal Snape (1936-2002)” (with G. Banks and P. Kenyon) Economic Record 79 (2003):159-64.

“Foreword” to I. Kim, S. Kwock and S. Park (eds) Growth, Productivity and Vision for the Korean Economy. Seoul: Korean Institute of Industrial Development, Sungkyunkwan University, 2001. Pp. 1-2.

“Minerals and Regional Employment in Western Australia” (with P. L. Johnson). Results Statement Perth: Chamber of Minerals and Energy of WA, 1999.

“Comments on ‘Modelling the Regional Impact of National Competition Policy Reforms’ by the Productivity Commission” Reported in summary form in Modelling the Regional Impacts of National Competition Policy Reforms. Canberra: Productivity Commission, 1999. Pp. 137-8. Supplement to Productivity Commission Report, Impact of Competition Policy Reforms on Rural and Regional Australia, 1999.

“Foreword” to Y. Wu (ed) The Economics of the East Asian Steel Industry: Production, Consumption and Trade. London: Ashgate, 1998. Pp. xvi-xvii.

“What Does Minerals Growth Mean to Western Australia?” (with H. Ahammad). Minerals, East Asia and the WA Economy, Results Statement No. 3. Perth: Chamber of Minerals and Energy of WA, 1997.

“Preface” (with P. Maxwell). Resources Policy, Special Issue: Western Australia 22 (1996): iii-iv.

“The Economic Benefits of an Expanding Minerals and Energy Industry” (with H. Ahammad and Y. Qiang). Minerals, East Asia and the WA Economy, Results Statement No. 2. Perth: Chamber of Minerals and Energy of WA, 1996.

“Economic Aspects of Gold Mining in WA” The Australian Gold Conference Proceedings. Perth: Chamber of Minerals and Energy of WA, 1996. Pp . 257-71.

“Multiplier Effects of the Western Australian Mining and Mineral Processing Industries” (with Y. Qiang). Minerals, East Asia and the WA Economy, Results Statement No. 1. Perth: Chamber of Mines and Energy of WA, 1995. Reprinted in abbreviated form in M. Teague, A. Tibbitt and B. Miller Foundations of Economics Workbook for Year 12. South Melbourne: Addison Wesley Longman, 1997. Pp. 13-14.

“Foreword” to M. A. B. Siddique (ed) A Decade of the Shann Memorial Lectures and the Australian Economy. Singapore: Academic Press International, 1993. Pp. vi-vii.

“Foreword” to J. Pope, R. Fayle and D. L. Chen The Compliance Costs of Employment-Related Taxation in Australia. Sydney: Australian Tax Research Foundation, Research Study No. 19, 1993. Pp. v-vi.

“Study Forecasts Continued Growth in China’s Demand for Steel” (with D. L. Chen, E. J. Roberts and E. J. Weber). Mining Review 16 (1992): 25-28.

“The North West Shelf - Economic Impact of Australia’s Biggest Project” (with R. A. Greig, P. J. Higgs and A. A. Powell). Mining Review 15 (1991): 30-32.

“Introduction” (with R. G. Gregory and T. Takayama) to International Economics Postgraduate Research Conference Volume edited by K. W. Clements, R.G. Gregory and T. Takayama. Supplement to the Economic Record, 1991. Pp. 1-2.

“Foreword” to J. Pope, R. Fayle and D. L. Chen The Compliance Costs of Public Companies’ Income Taxation in Australia, 1986/87. Sydney: Australian Tax Research Foundation, Research Study No. 13, 1991, p.vi.

“Introduction” (with J. Freebairn). In K. W. Clements and J. Freebairn (eds) Exchange Rates and Australian Commodity Exports. Melbourne and Perth: Centre of Policy Studies, Monash University and Economic Research Centre, The University of Western Australia, 1990. Pp. 1 5.

“Foreword” to T. Horton and H. Colebath Who Pays for Protection. Policy Paper No.13. Perth: Australian Institute for Public Policy, 1988. Pp. v vi.

“Notes on the Economic Outlook for 1986” Cornerstone September 1985: 19 24.

“Statistical Inference About Inflation” (with H. Y. Izan). Statistical Society of Australia Newsletter 19 (1982): 1-3.
Roles, responsibilities and expertise
Member, Research Committee of the UWA Business School.

Convenor, PhD Conference in Economics and Business, The University of Western Australia, 1987, 1988, 1989, 1991, 1993, 1995, 1997, 1999, 2001, 2003, 2009, 2012, 2016 (jointly with H. Y. Izan).
Funding received
“Analysing Global Consumption Patterns with a Large Number of Goods”, ARC Discovery Project, 2013-15, 3,000.

“Commodity Booms and Busts - Implications for the Australian Economy”, ARC Discovery Project, 2010-12, 0,000 (with R. Tyers).

“Security in Retirement: Forecasting and Managing Macro Investment Risks”, ARC Discovery Project, 2008-10, 8,000 (with G. H. Kingston, H. Batemen, L. A. Fisher and S. Thorp).

“International Comparisons of Consumption, Incomes and Prices”, ARC Discovery Project, 2007-09, 2,000.

“Risk Management for Bonds, Currencies and Commodities”, ARC Discovery Project, 2005-07, 0,000 (with G. H. Kingston, H. Batemen, L. A. Fisher, M. Sherris and S. Thorp).

“Commodity Prices and Exchange Rates”, University of Chicago, 2005, ,000.

“Exchange Rates and Commodity Prices in a Volatile Business Environment”, ARC Linkage Project; ACIL Tasman, AngloGold Australia and the WA Department of Industry and Resources, the industry partners, 2004-07, 2,000.

“International Comparison of Food Consumption Patterns”, Department of Foreign Affairs and Trade, ACIAR, 2003, ,000 (with Y. Wu).

“Stochastic Index Numbers and Their Application in Accounting, Economics and Finance”, ARC Discovery Project, 2003-05, 6,000 (with H. Y. Izan and E. A. Selvanathan).

“Economic Aspects of Wool in Western Australia”, ARC Linkage Project, Agriculture Western Australia, the industry partner, 2003-05, 0,000 (with M. J. Tcha).

“The Economics of Value-Adding in WA Agriculture”, Department of Agriculture and Food WA, 2002, ,000.

“Modelling Illicit Markets: The Case of Marijuana”, ARC Discovery Project, 2001-03, 3,000 (with X. Zhao).

“Curbing Greenhouse Gas Emissions and the WA economy”, ARC Small Grant, 1999, ,000 (with Q. Ye).

“Living Standards and WA Agriculture”, ARC SPIRT Project; Department of Agriculture and Food WA, industry partner, 1998-2000, 3,000.

“Energy Costs and Mineral Production in Western Australia”, ARC Large Grant Scheme, 1998-2000, 7,000.

“The Economics of Energy Reform in Western Australia”, ARC and BHP Iron Ore, ARC Australian Postgraduate Award (Industry), 1996-98, ,000.

“Simulation in Demand Analysis”, ARC Large Grant, 1996-97, ,000.

“The Economics of the East Asian Steel industry”, Pohang Steel Research Institute (POSRI), Korea, 1995-96, 3,000 (with M. J. Tcha and R Greig).

“W.A. Gold Mining Industry Study”, Chamber of Minerals and Energy of WA, 1995, ,000 (with R. Greig).

“Minerals, East Asia and the WA Economy”, ARC and Chamber of Minerals and Energy of WA, ARC Collaborative Research Grant, 1995-97, 9,000 (with R. Greig).
Honours and awards
UWA Business School Dean’s Best Paper Prize for “Quality, Quantity, Spending and Prices” (with G. Gao). European Economic Review, 2012

Citation for Outstanding Contributions to Student Learning, Australian Learning and Teaching Council, 2009

Best Discussant Award, PhD Conference in Economics and Business, ANU, 2004 and 2008; Monash University, 2014 (joint winner)

UWA Award for Excellence in Teaching (Postgraduate Supervision) 2008

E. Yetton Award for the best paper published in 2008 in the Australian Journal of Management. “The Stairway to the Top: The Remuneration of Academic Executives” (with H. Y. Izan). Australian Journal of Management, 2008

Citation for Outstanding Contributions to Student Learning, UWA Business School, 2007

Lecturer, Distinguished Scholars’ Lecture Program, Sungkyunkwan University, Seoul, 2000.

Fellow of the Academy of Social Sciences in Australia, 1998

Inaugural Excellence in Postgraduate Supervision Award, The University of Western Australia, 1992

McKethan-Matherly Research Fellow, University of Florida Gainesville, 1984

Morganthau Field Fellowship, The University of Chicago, 1977

Lilly Honor Fellowship, The University of Chicago, 1974-77
Previous positions
Head, Economics Program, The University of Western Australia, 2001-06, 2009-13

Director, Economic Research Centre, The University of Western Australia, 1986-2006

Dean, Faculty of Economics and Commerce, The University of Western Australia, 1996-98

Visitor, Faculty of Economics and Commerce, University of Melbourne, 1982

Economist, Reserve Bank of Australia, Sydney, 1974, 1979 -81

Associate Director, Centre for Studies in Money, Banking and Finance and Visiting Fellow, Macquarie University, 1980

Assistant Professor of Economics and International Business, Graduate School of Business, The University of Chicago, 1977-79

Associate Director of the Centre for Mathematical Studies in Business and Economics, Department of Economics and Graduate School of Business, The University of Chicago, Winter 1979
Teaching
Economic Management and Strategy ECON5503, 2014-2015.

International Finance and Markets ECON4415 and ECON5502, c1990-.

Monetary Economics ECON2210, 1985-2013.
Current external positions
The Editorial Board Economic Papers, since 2008.

The Editorial Board Australasian Journal of Economics Education, since 2004.
Current projects
“Engel’s Law, Diet Diversity and the Quality of Food Consumption” (with J. Si).

“A Multi-Market Approach to Measuring the Cycle” (with G. Gao).

“Uncertainty in Currency Mispricing” (with Y. Lan and J. Si).

“Three Facts about World Metal Prices” (with M.-H. Chen, G. Gao and J. Si).
RFCD
340102, 340202, 340206, 340401
Research profile
Research profile and publications
 

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Tuesday, 3 November, 2015 2:39 PM