Stimulating Australia
Posted by Andrew Jackson under Australia, fiscal policy, global crisis.
February 9th, 2010
Comments: 1
An interesting column, arguing that the very limited rise in unemployment in the Great Recession in Australia owes a lot to a well-constructed stimulus program of the Labour government, based on higher transfers to lower income households plus short and medium term infrastructure investment.
http://column.global-labour-university.org/2009/11/riding-your-luck-and-adopting-right.html
Comments
Comment from Brandon L
Time: February 10, 2010, 1:23 pm
We’ll Australia “rescession” cough has been relatively less severe then the developed countries. One might make the argument that real higher interest rates over the past decade didn’t lead to speculative boom that created large sums of misalocated workers in unsustainable sectors, or further tightening by the Australia Central Bank 2009 didn’t lead to a catastrophe in unemployment to reign on speculation. Australia has a lot of similar appeals to Canada, in role of government, commodities, etc that the real difference comes from monetary policy.
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