This paper examines some of the stylised facts in relation to the growth of government in the Western world generally, and Australia in particular. It then reviews some of the main theories advanced to explain long-term growth in the size of government. Existing theory and evidence provide only partial explanations for the stylised facts about...

Capital gains tax raises little revenue, but at a substantial cost in terms of economic efficiency, says CIS Research Fellow Dr Stephen Kirchner in his new report. At best, CGT is an anti-avoidance measure. Yet CGT is itself readily avoided through the deferred realisation of capital gains.

This report argues that monetary policy and central banks should not aim to actively manage asset price cycles. ‘Central bankers are now questioning the established consensus on the relationship between monetary policy and asset prices and risk forgetting the lessons from the past. This shift in sentiment toward a more activist role for monetary policy...

As politicians reaffirm their commitment to free trade at the G20 and APEC, this paper argues that they should make sure they practice what they preach. In Australia’s case, this means reforming restrictive rules on foreign direct investment. In a new report released by the Centre for Independent Studies on Thursday, economist Dr Stephen Kirchner...

It has been suggested that the federal government should sponsor an institution, dubbed 'AussieMac', but this paper argues that the such a proposal is unlikely to deliver significant benefits for Australian homebuyers and that government intervention in the market for mortgage-backed securities is an inefficient way of promoting housing affordability.