Suchergebnisse

AbstractThis article introduces the Policy Forum. It contains: (i) a brief overview of the fiscal policies introduced to deal with COVID‐19 and their impact on Australia's economic performance; (ii) summaries of the articles in the Forum; and (iii) suggested learnings for policymaking in future crises.

AbstractThis article reviews the economy‐wide effects of the Work Choices and Fair Work reforms to Australia's industrial relations system. Outcomes examined are wages growth and earnings inequality, labour market adjustment, labour productivity growth and industrial disputes. Little evidence is found of an effect from the industrial relations reforms made in the 2000s. I argue that this is consistent with the nature of the reforms, being primarily oriented to distributive rather than efficiency goals. I finish by describing how private interest can explain current lobbying for further reform to Australia's industrial relations system.

AbstractThis article provides a rejoinder to Ross Gittins' commentary on the potential contributions of psychology and behavioural economics to public policy formation. It includes three main arguments. First, that behavioural economics is not a new approach to doing economics, but instead is best seen as a way of enriching 'conventional economics' (using Gittins' terminology). Second, that behavioural economics is not a panacea. Not all aspects of economic activity need psychology to be understood and behavioural economics has limitations. Third, that the failings of conventional economics are not as severe as Gittins suggests.

This article presents descriptive information and an assessment of the medium‐term outlook for unemployment in Australia. A brief review of other articles in the Policy Forum is provided, and key issues for evaluating the policy proposals in those articles are discussed.