This paper compares the macroeconomic effects of global oil and iron ore price shocks on the Australian economy. Using a Bayesian structural vector autoregression model with sign restrictions, we identify three types of shock: supply, demand and specific demand. The main results suggest that, over the period from 1990Q1 to 2014Q4, the oil shock had a relative larger impact than the iron ore shock on output and inflation, while the iron ore shock was the dominant source of interest and exchange rate movements.

In this paper, we examine the effects of world energy price shocks on China's macroeconomy over the past two decades. We begin by showing that the use of oil prices as a proxy for more general energy price dynamics is not appropriate for the case of China. Having established this fact, we propose a new energy price index which accurately reflects the structure of China's energy expenditure shares, and intertemporal fluctuations in international energy prices.

This paper estimates the causal effects of education on political concern and political participation in Vietnam by employing the 1991 compulsory schooling reform to instrument for plausibly exogenous changes in education. The paper finds that, in general, education does cause favorable impacts on political outcomes. In particular, one more year of schooling, on average, results in increases in the probabilities of political concern and political participation by about 6–12 percentage points and 6–8 percentage points, respectively.

This paper aims to review empirical studies regarding factors influencing farmers’ adaptation to climate change and document those factors in a systematic manner. Adaptation to climate change is an important research topic, especially in agriculture, a sector reliant on climate-sensitive resources. Several studies have examined the adaptation issues and identified factors that influence the adaptive responses of farmers in specific contexts or regions. However, little research effort has been paid to collecting and categorizing those factors.

Farmers in peri-urban areas across Vietnam are experiencing rapid transformations in their livelihood and land use practices. Peri-urbanization is progressing rapidly, along with the risk of conversion of large amounts of farmland into non-agricultural land. Additionally, an increasing number of laborers are moving away from both agriculture and rural areas. Understanding households’ strategies in landholding and livelihood under such circumstances is crucial to the development and planning of these fringe areas.

The world faces critical water risks in relation to water availability, yet water demand is increasing in most countries. To respond to these risks, some governments and water authorities are reforming their governance frameworks to achieve convergence between water supply and demand and ensure freshwater ecosystem services are sustained.

This paper provides new empirical evidence on the asymmetric reactions of the US natural gas market and US economy to its market fundamental shocks. We find that results based on a smooth transition vector autoregressive (STVAR) model provides a plausible and robust explanation to the behavior of the US natural gas market, which asymmetrically reacts in bad times and good times.

This paper studies the role of middlemen in open-access fisheries and how the organization of the supply chains affects resource exploitation and the level and distribution of economic rent. Imperfect competition among middlemen can help ensure that fish stocks are not depleted, which is typically the case in open-access fisheries with competitive markets. Middlemen with market power can also induce higher economic rent for the supply chain in total, but these rents mainly benefit the middlemen.