The Australian Economy
Australia hasn’t had a recession – in the widely used sense of two or more consecutive quarters of negative real GDP growth – since 1991. Since then, Australia’s ranking among nations in terms of per capita GDP has risen from 22nd to, in the last four years, either 12th or 13th, behind only the United States, Norway, Switzerland and a number of other smaller states which are predominantly either oil producers or financial centres. Australia’s economic performance reflects a combination of luck and management – the relative importance and quality of which have varied significantly from time to time. Monitoring the performance of and analysing the prospects for the Australian economy has been the major part of my ‘day job’ since I completed my university degree in 1979.
‘Minding the store’? Or ‘building a bigger and better store’?
Economic Policies, Tasmania, The Australian Economy | 3rd December 2021Saul’s presentation to the Economic Society of Australia’s annual Tasmanian Economic Forum in Hobart on 3rd December. Tasmania’s economic performance has improved considerably in recent years – and the current state government is entitled to claim some of the credit for that. It’s done a good job of ‘minding the store’ since being elected in […]
What impact will the government’s decision to open Australia’s borders to skilled migrants and students have on wages and house prices?
Australian Society and Politics, Housing, News, Recent Media Interview, The Australian Economy | 22nd November 2021Interview with David Lipson on ABC Radio’s “PM” program on 22nd November 2021
‘The Next Big Risk: Insights on the Economic and Financial Outlook
The Australian Economy | 28th October 2021Presentation to the Institute of Internal Auditors’ Audit & Risk Committee Forum, 28th October 2021
Inflation in Australia
News, The Australian Economy | 27th October 2021Interview with The Australian’s Business Editor-at-Large Ticky Fullerton published here on 27th October – just before the release of the September quarter CPI data. Although that number was in line with what I’d told Ticky that was expected, the ‘underlying’ inflation number was a bit stronger than expected, pushing the annual ‘underlying’ inflation rate into […]
‘Stagflation’
News, The Australian Economy | 27th October 2021‘Stagflation’ is the simultaneous occurrence of persistently high unemployment with persistently high inflation, which many economies (including Australia’s) experienced in the second half of the 1970s and for part of the 1980s. Some economists fear it might be re-emerging now. I talk to ABC Business Reporter Gareth Hutchins about this possibility here.
September employment data show ‘effective’ unemployment rate at 10.6%
News, The Australian Economy | 14th October 2021Saul was interviewed by Sky News about the Septembfer labour orce report released on 14th October Australia could see a ‘net rebound’ in employment come November | Sky News Australia
Old wine in new bottles: more ‘rent-seeking’ from South Australian manufacturing interests
Economic Policies, Publications, The Australian Economy | 17th September 2021There’s a new lobby group pleading for preferential treatment for manufacturing in the name of ensuring ‘sovereignty’, a word of which the present Federal Government is especially fond. But it boils down to the same old rent-seeking that has been a feature of Australian manufacturing policy for most of the past 120 years. (Full text […]
Housing Grants: more harm than good
Australian Society and Politics, Economic Policies, Housing, News, Recent Media Interview, The Australian Economy | 15th September 2021Saul talks to Tasmania Talks’ Mike O’loughlin on 14th September, 2021 about housing affordability crisis