Examines the effect that the fall in tax revenue post Global Financial Crisis (GFC) had on the Commonwealth’s budget. Summary This paper looks at the effect that the fall in tax revenue post Global Financial Crisis (GFC) had on the Commonwealth’s budget . It does this by modelling what would have happened if revenue had...

This paper reviews the nature of Australian bank prudential regulation before and after the Global Financial Crisis (GFC). It begins by providing a detailed conceptual framework for understanding the functions of banks and deposit-takers, the theory of what can go wrong with the operation of these institutions, and the logic of prudential regulation. It then...

We present an empirical model of systemic banking crises from an Australian perspective. Having no history of domestic banking crises in recent history, our quantitative model is estimated using an international panel data set spanning 18 countries and 30 years of observations. We evaluate in a hazard-modeling framework the statistical and economic significance of variables...

Labor frontbencher Anthony Albanese claims spending is higher as a proportion of GDP in 2016 than it was during the global financial crisis.

We introduce an endogenous network model of the interbank overnight lending market. Banks are motivated to meet the minimum reserve requirements set by the Central Bank, but their reserves are subject to random shocks. To adjust their expected end-of-the-day reserves, banks enter the interbank market, where borrowers decrease their expected cost of borrowing with the...