There is a vast international literature exploring the consequences of low interest rates for various banking sectors. In this paper, I explore how this international literature relates to the Australian banking sector, which operates differently to other jurisdictions. In the face of low rates, the profitability of Australian banks has likely been less adversely affected than what the international literature would predict, but the flip side to this is that the pass-through of monetary policy to lending rates may have been more muted. I then use a recent advance in macrofinancial modelling to explore whether pass-through in Australia could turn negative – the so called ‘reversal rate’ – and find that the features of the Australian banking system mean a reversal rate is highly unlikely to exist in Australia.
Reading
The ARJ21, China's homegrown regional jetliner, was delivered on Sunday to Indonesian carrier TransNusa, marking the first time that China's jet airliner has entered the overseas market.…
Developed by Commercial Aircraft Corp of China (COMAC), the ARJ21 regional aircraft has a range of up to 3,700 km. It can fly in alpine and plateau regions and is adaptive to various airport conditions.
Nearly 100 ARJ21 planes have been delivered to its clients and in operation on 300 flight routes, connecting more than 100 cities and having safely carried 5.6 million passengers, COMAC said.
Competition.
It is doubtful that all parts are Chinese designed and produced. Russia is developing commercial aircraft production that is entirely Russian. China likely is also, but Russia is more advanced in military aircraft production and has the expertise to export this knowledge to commercial use, the design and production of which is less demanding than military aircraft.
Salaries in the U.S. aren’t keeping up with inflation, despite pandemic-related increases in some sectors. That’s a major threat to the future for all working Americans – especially the youngest.
Social Security is your future. And that future could come sooner than you think.
Conversations about the program often pit younger workers against retirees, but Social Security is really an intergenerational compact that boosts the well-being of Americans of all ages — that’s one of the reasons the program is so cherished.
One in five Americans receives a Social Security benefit today, and about one in three of these aren’t retired. Social Security protects young workers and their families if they become disabled, and it provides benefits to the survivors of deceased workers, including their kids. Studies show that a 20-year-old worker has a one in three chance of qualifying for disability benefits before reaching retirement age.
Hello! My name is Kevin Munger, and I’m delighted to have gotten the call up to the blogging big leagues. I’ve been blogging since the beginning of the pandemic at Never Met a Science, a combination of meta-science (get it) and media theory that I intend to continue here. Crooked Timber has been around for […]
With digital currencies not reaching their potential, it's up to policymakers to implement a better strategy for a stronger digital financial market. read now...People who have been infected with the respiratory virus that causes COVID-19 can experience long-term negative effects from the infection. These lasting effects are typically referred to as Long COVID. The most frequently reported Long COVID symptoms include difficulty concentrating or thinking (“brain fog”), difficulty breathing, fatigue that interferes with daily life, post-exertional malaise, and […]
The post The Extent and Demographics of Long COVID Disability in United States appeared first on Center for Economic and Policy Research.
I got an email overnight that I could reply to as a private mail, or I could hide the identity of the person who sent it and reply here, sending them the link. I have chosen the second option as I suspect the questions are not uncommon....Basic stuff, but it is difficult for many people to get since they are programmed otherwise.
In my experience (anecdotally), those who know little to nothing about economics and finance get the MMT basics of money creation pretty easily since it make sense in the absence of countervailing the assumptions. Accountants also get MMT; Richard Murphy is an expert in accountancy, for instance. As one accountant replied after I finished explaining MMT, "How else could it be?" It's just the way the accounting works.
Rani and Clyde are back! Sarah Jane’s proteges reunite to take on the world in three new adventures from Big Finish next year Big Finish have announced details of the three full-cast audio dramas from the worlds of Doctor Who featuring the return of The Sarah Jane Adventures’ Rani (Anjli Mohindra). Now an award-winning journalist, […]
The post Clani Go Beyond Bannerman Road! Story Details Unveiled for the Doctor Who Spin-Off appeared first on Blogtor Who.
If nothing else, the enormous success of (South) Korean culture abroad is an example of how industrial policy and culture are by no means mutually exclusive. Those brilliant, brutal films about class war, those ultra-cute, ultra-glossy TV dramas, those androgynous boy and girl bands, can all be traced in some way to the enormous state […]
First things first — Kuhle Wampe is one of the greatest socialist films ever made, up there in the pantheon with Battleship Potemkin, I Am Cuba, Land and Freedom, or Sorry to Bother You. An early sound film, made in 1932 by a collective including the Bulgarian director Slatan Dudow, the playwright and poet Bertolt […]
What is to be done with Russian books? Which of them, if any, should we read now? Since Russia invaded Ukraine in February, calls to cancel Russian literature have been heard from various quarters. That is nothing new, particularly when it comes to the classics. In 1908, in ‘Leo Tolstoy as the Mirror of the […]
By the brink of autumn in 1853, the Scottish essayist Thomas Carlyle was nearing the end of his tether. ‘All summer I have been more or less annoyed with noises’, he wrote to his sister that August. There were next door’s chickens — those ‘demon fowls’ squawking at all hours. There was the neighbour on the […]
The Los Angeles-based modern architect Gregory Ain (1908–88) was a pioneer in low-cost housing in the 1930s and ’40s. During this period, Ain collaborated closely with the era’s design luminaries, including Rudolph Schindler, Richard Neutra, and Charles and Ray Eames. He developed a series of innovative housing projects that today remain compelling models for high-quality, […]
How Tangled Bank Studios learned to make science documentaries that feel like feature films.
The post The Human Story at the Heart of Science appeared first on Nautilus.