RP Data-Rismark have released the capital city hedonic house price index for October, showing house prices up 10% YTD.
Here’s what $1.85 million buys you in the Sydney suburb of Paddington:
RP Data-Rismark have released the capital city hedonic house price index for October, showing house prices up 10% YTD.
Here’s what $1.85 million buys you in the Sydney suburb of Paddington:
Michael Stutchbury quotes Warwick McKibbin on the likely consequences of Labor’s emissions trading scheme:
Economist and Reserve Bank of Australia board member Warwick McKibbin warns the Carbon Pollution Reduction Scheme is “fundamentally unstable”, the price of permits will be “inherently volatile” and the Copenhagen agenda is in “total [...]
Tony Abbott offers support for a carbon tax as an alternative to an ETS in today’s Australian:
many respected economists think a carbon tax would be more certain, less complex and far less open to manipulation than traded carbon permits.
In government, Malcolm Turnbull showed considerable interest in Warwick [...]
RBA Deputy Governor Ric Battellino, on why the housing investment share of GDP will have to rise.
[...]Brendan O’Neill, on why Malthusians are always wrong.
[...]Gold is all about capital gain (or loss, as the case may be). After storage and insurance costs, gold has a negative yield. These costs may be about to go up, with retail gold bugs being booted out of gold storage facilities to make way for institutional investors. From the [...]
The Wall Street Journal has been running a series of articles on the impact of US dollar weakness on Asia-Pacific economies. In today’s edition, I write about New Zealand Labour’s abandonment of the consensus on inflation targeting:
Mr. Goff’s criticism of this dynamic misses the important benefits inflation [...]
The leader of the opposition New Zealand Labour Party, Phil Goff, has announced the abandonment of his party’s support for inflation targeting by the Reserve Bank of New Zealand.
It was a Labour government that introduced the Reserve Bank of New Zealand [...]
The CIS have released my Policy Monograph on Reforming Capital Gains Tax: The Myths and Realities Behind Australia’s Most Misunderstood Tax. There is an op-ed version in today’s Australian.
The 2004 Productivity Commission inquiry into first home ownership noted [...]
An illustrated history of Nouriel’s money-losing calls of 2009.
[...]RBA Board member Warwick McKibbin, on the resource cost of fiscal stimulus:
RESERVE Bank director Warwick McKibbin has publicly questioned whether the Rudd government dumped him from the Prime Minister’s science council as payback for saying its fiscal stimulus package was “too big”.
Speaking yesterday after Wayne Swan [...]
The US Treasury has been running high level briefing sessions for economic bloggers. Officialdom has obviously recognised that bloggers are an influential voice and need to be managed like old media. Fortunately, economics bloggers are proving a little more spin-resistant than Treasury perhaps expected. Here is what [...]
I have an op-ed in the business section of today’s Australian on the future of the US dollar (no link, but full text below the fold). Many commentators mistakenly view the market-clearing price of the US dollar on foreign exchange markets as a reflection on the US dollar’s future role [...]
Eugene Fama reviews The Myth of the Rational Market, by Justin Fox:
The book is fun reading, but its main premise is fantasy. Most investing is done by active managers who don’t believe markets are efficient. For example, despite my taunts of the last 45 years about the [...]
An insight into how Australia is perceived abroad, care of Holman Jenkins in the WSJ:
What most infuriated their hosts, though, was Telstra’s abandonment of its traditional deference to policy makers. The company took regulators to court over mandates requiring it to lease its network to competitors at [...]
Following the release of the ABS house price data for the September quarter, Steve Keen concedes defeat in his bet with Rory Robertson and will be hiking from Canberra to the top of Australia’s highest mountain wearing a [...]
I featured in a Lateline Business story last night on Reserve Bank media backgrounding in relation to monetary policy. Lateline Business supervising producer Richard Lindell deserves considerable credit for pursuing this story in the face of both official and unofficial stonewalling. Credit is also due to [...]
