Deep Dives
Australia's per capita recession is the inevitable consequence of past policy decisions, where attempts to curb inflation clash with the need for economic stability, leaving households and young people bearing the brunt of a painful economic adjustment.
Deep Dives
Russia's booming consumer spending will eventually crash back down to earth, following a historical pattern seen in times of war and disaster, including the 14th century's Black Death.
Deep Dives
As low-productivity sectors like health care rapidly expand, Australia faces a pressing need to boost productivity in other areas to maintain economic growth and living standards.
Deep Dives
Despite its proximity to the US and abundant natural resources, Canada's economy is hampered by inter-provincial trade barriers, powerful domestic cartels, and declining productivity, leaving it vulnerable to global trade tensions.
Deep Dives
New Zealand's economy is in trouble, with a double-dip recession and shrinking per capita growth. The decline stems from a lack of productivity reforms and an excessive focus on equity over efficiency. But Australia isn't much better, and we could easily join them if policymakers get complacent.
Deep Dives
Australia's national accounts were released last week and confirmed that our per capita recession – defined as two consecutive quarterly contractions – didn't just continue into the December quarter, but deepened: on a per person basis, our economy is now a full 1% smaller than where it was
Deep Dives
Japan's "lost decades" of low growth are due to its declining working-age population, not necessarily failed policies. With aging populations, policymakers in developed nations such as Australia will need to focus on right metrics, not just GDP growth, to craft effective policies.