Peter Bishop Bishop Dixon

Background

Dixon, Peter Bishop was born on July 23, 1946 in Melbourne, Australia. Son of Herbert Bishop and Margaret Vera (Laybourne-Smith) Dixon.

Education

Bachelor in Economics, Monash University, Melbourne, 1968. AM, Harvard University, 1970. Doctor of Philosophy, Harvard University, 1972.

Career

Economist International Monetary Fund, Washington, 1972-1974, Reserve Bank Australia, Sydney, 1974-1975. Senior lecturer Monash University, 1975-1978. Associate director Impact Economic Research, Melbourne, 1975-1978.

Professor economics Latrobe University, 1978-1983. Visiting professor Harvard University, Cambridge, Massachusetts, 1983. Professor, director University Melbourne Institute Applied Economics and Research, 1984-1991.

Professor faculty business and economic Monash University, Clayton, 1991—2004, director Center of Policy Studies/IMPACT project, 1991—2004, principal researcher Center of Policy Studies/IMPACT project, 2004—2006, Sir John Monash distinguished professor, since 2006. Chairman editorial board Australian Economic Review, Melbourne, 1984-1990.

Achievements

• Fellow, Academy Social Sciences in Australia, 1982. Research Medal Royal Society Victoria (with A. A. Powell), 1983.

Works

More photos

• book

  • Notes and Problems in Applied General Equilibrium Economics, Volume 32 (Advanced Textbooks in Economics)

    ("General-equilibrium" refers to an analytical approach wh...)

  • ORANI: Multisectoral Model of the Australian Economy (Contributions to Economic Analysis)
  • NOTES AND PROBLEMS IN APPLIED GENERAL EQUILIBRIUM ECONOMICS

• Other Work

  • Author: ORANI: A Multisectoral Model of the Australian Economy, 1982, Notes and Problems in Applied General Equilibrium Economics, 1992, Dynamic General Equilibrium Modelling for Forecasting and Policy, 2002, others. Contributor over 180 articles to professional journals.

Views

My principal contributions have been in applied general equilibrium economics. Initial work in this area was with large-scale linear programming models of multicountry trade (see, for example, my Theory of Joint Maximization). Later I adopted a Johansen framework which allows easier incorporation of subsititution possibilities.

Together with Alan Powell, Brian Parmenter and other colleagues at the Melbourne Universitybased IMPACT Project, I implemented ORANI, a Johansen model of the Australian economy. The initial version of ORANI was completed in 1977. It continues to be updated and extended.

With 120 sectors, 70 labour types, 6 regions and a myriad of substitution possibilities, ORANI is regarded as one of the world’s most detailed applied general equilibrium models. While of the Johansen class, the model extends Johansen’s original formulation by allowing for multiproduct industries and multi-industry products, by incorporating econometric estimates of numerous substitutions and transformation elasticities, by including a detailed treatment of marginal industries, by adding a regional dimension and by eliminating the linearisation errors in Johansen’s computational procedure without destroying its simplicity. The model is used regularly by

government agencies in Australia and by university research workers.

Among the numerous applications are analyses of the effects on industries, occupations and regions of changes in tariffs, the exploitation for export of mineral resources, changes in world commodity prices, changes in the costs of employing labour, changes in the domestic pricing policy for oil and the substitution of indirect for direct taxes. In my writings, I have emphasised the need for rigorous theoretical specifications as a basis for empirical research. I have argued that it is only by close attention to theory that one can hope to create models capable of giving insight into the implications of disturbances which push the economy away from previously established historical trends.

Membership

Fellow Australian Academy Society Sciences, Economic Society Australia (distinguished).

Interests

• Reading, gardening.

Connections

Married Orani Limpaamara, July 20, 1968. Children: Janine Margaret, Barbara Bishop.

Father:

Herbert Bishop Dixon

Mother:

Margaret Vera (Laybourne-Smith) Dixon

Spouse:

Orani Limpaamara

child:

Janine Margaret Dixon

child:

Barbara Bishop Dixon