We consider identification of a class of dynamic factor model. We show that identification holds under reasonably general conditions. The results apply to many of the dynamic factor models that have appeared in the literature and to many worthwhile generalizations of those models.

In Australia, the so‐called Group of Eight (Go8) elite research universities have lower student‐to‐staff ratios, better‐qualified staff, superior research outcomes, and generally better placement in university rankings than non‐Go8 universities. In this paper, we use data from the Graduate Destination Survey and data on Australian Tertiary Admission Ranks (ATARs) to investigate the existence of Go8 premia in the Australian graduate labour market, and to determine the extent to which they are due merely to the recruitment of better students. We find statistically significant evidence of small Go8 premia which are largely, but not entirely, due to the selection of above average ATAR students.

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In this paper dynamic factor analysis techniques are used to decompose changes in unemployment into industry sectoral and common components. Sectoral shocks are important, but the dominant causes of variation in unemployment are common to all industries. This is particularly the case for low–frequency fluctuations in unemployment. The pattern of the estimated sectoral shocks reflects the well–documented shift of employment from agriculture and manufacturing to services, and we find no evidence that microeconomic reform has contributed greatly to unemployment.