Productivity
On the 5th of September 2023, more than 130 local and state government professionals participated in the Spotlight on Greater Melbourne Economy webinar where we highlighted key findings from the 2023 State of the... Brendel/Unsplash, CC BY-NC Warwick Smith, University of Melbourne This article was first published in The Conversation. Understandably, given we are in a crisis, the government has baulked at including superannuation contributions in the A$140 billion worth of $1,500 per … Continue reading
The good news is supposed to be that when the government gets out of the way “can-do capitalism” will have us roaring back to where we were before.
That’s the prime minister’s newest slogan, and we had better hope for more.
The unpleasant truth is that before the pandemic Australia’s economy was disturbingly and unusually weak. Can-do capitalism wasn’t doing what it should.
Reserve Bank chief economist Luci Ellis put it this way a few days after Morrison talked about freeing the engines of the economy to do their work.
In the decade or so leading up to the pandemic, there was a nagging sense that these engines of prosperity were running out of steam – investment was low, productivity growth was lagging, and many of the behaviours we associate with business dynamism were on the decline.
Outside of mining, business investment had been shrinking as a share of the economy for more than a decade.
A how-to guide for academics who want to have their name on lots of papers.
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Marko Melolinna Input/output networks are important in propagating shocks in an economy. For understanding the aggregate effects of shocks, it is useful to know which sectors are central (ie, providing a lot of inputs to a lot of other sectors) and how the central sectors are affected by and propagate the shocks to other sectors. … Continue reading UK productivity puzzle – a production network perspective