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Inflation

NARROWER TERMS


Report

Economic and other wellbeing in Australia – October 2022

This paper describes the trends, variation and determinants of wellbeing over the tumultuous period since COVID-19 first reached Australia and up until October 2022, with a particular focus on changes in economic wellbeing.
Report

Inflation: a primer

This report investigates the history of Australian inflation and policy choices, and provides a counter to the view that low inflation and the current inflation target is acceptable.
Discussion paper

Discussion paper for the Climate and Recovery Initiative ninth roundtable

This paper highlights areas of policy that will be relevant for addressing current and persistent challenges related to energy markets, climate change, economic policy and inflation.
Report

Inflation and the cost of living: policy debates and practices

This paper examines some of the reasons why governments approach inflation the way they do and surveys some recent contributions to the policy debate.
Report

How central bank mistakes after 2019 led to inflation

In this paper, the authors make a convincing case that stimulative monetary policy during the global COVID-19 pandemic contributed materially to the inflation surge that followed and which persists today. Equally important, they focus intensively on the various reasons that might have contributed to this...
Discussion paper

Are wages or profits driving Australia’s inflation? An analysis of the National Accounts

The distributional consequences of record high profits and record low real wage growth have been widely discussed in Australia recently, but the data presented in this paper suggests that rising profits are now the major driver of inflation.
Briefing paper

Wages, prices, and the 2022 federal election

The recent federal election featured important debate regarding the recent acceleration of inflation in Australia, and whether and how wages should be boosted to keep up with higher prices. This briefing paper reviews the detailed findings of an exit poll regarding wages, prices and the...
Working paper

Inflation in the time of corona and war

The author of this paper argues that recent inflationary pressures have mostly supply-side origins, caused by the COVID-19 crisis, which have been enabled by poor macroeconomic policy choices.
Report

Tackling rising inflation and slowing growth: government’s big decision on how to share the pain

The economic crisis facing the United Kingdom is very different to the 2008 financial crash and the early 1990s recession – which means a very different response is required by the government, argues Gemma Tetlow in this report.
Briefing paper

Wage price spiral or price wage spiral?

While significant concerns have been raised about the inflationary impacts of a five percent increase in the minimum wage, in reality, the authors of this paper argue that the direct inflationary impact of a five percent increase in all wages is only 1.27 percent, and...
Report

The return of inflation: what it means for Australia

Inflation is rising around the world, the sting in the tail of the pandemic economic stimulus packages unleashed by governments in 2020. This analysis paper examines the implications for prices and wages growth in Australia.
Fact sheet

Fact Check: Labor says wages fell 2.1 per cent over the year to June 2021, the 'fastest drop in 20 years'. Is that correct?

Wages growth in Australia has been sluggish for years, well before the coronavirus pandemic hit the economy. In a Facebook post, Federal Labor claimed that "under Scott Morrison real wages have fallen 2.1 per cent in 12 months, the fastest drop in wages in 20...
Fact sheet

Fact Check: Adam Bandt says house prices are rising by $1,200 a day. Is he correct?

In a July 30 tweet, Greens leader Adam Bandt claimed house prices are rising by $1,200 a day, warning that younger workers have been locked out. Is it correct that house prices are rising by $1,200 a day? RMIT ABC Fact Check investigates.
Fact sheet

Fact Check: Anthony Albanese says Australia's real wages have 'flatlined' for eight years. Is he correct?

After being overly optimistic with its wage forecasts for years, Federal Treasury is now, according to Labor, predicting that real wages will fall. RMIT ABC Fact Check investigates. The verdict: Mr Albanese is close to the mark.
Policy report

The MMT hoax

Economic history teaches us that sharply deteriorating macroeconomic conditions create a vacuum for alternative policy-oriented frameworks to emerge. This paper evaluates the macroeconomic worth of Modern Monetary Theory (MMT) and concludes that adhering to the policy prescriptions of MMT would lead to disastrous macroeconomic consequences...
Working paper

Inflation variability across Australian households: implications for inequality and indexation policy

This paper considers the inflation experience of Australian households in different parts of the income distribution.
Report

Victorian economic snapshot 2020

This publication provides a multi-perspective and historical overview of the Victorian economy. It is largely based on the most recent release of economic data published by the Australian Bureau of Statistics, covering the 2018/19 financial year.
Discussion paper

Credit spreads, monetary policy and the price puzzle

Identifying the causal effect of monetary policy on inflation remains a challenge. Researchers frequently find evidence of a ‘price puzzle’: increases in the policy rate are followed by higher rather than lower inflation.
Report

Tolerate unemployment, but blame the unemployed

For the last generation, macroeconomic policy in Australia has been based on the assumption that unemployment must be maintained at a certain minimum level in order to restrain wages and prevent an outbreak of accelerating inflation. Now, after six years of record-low wage growth, this...
Fact sheet

Fact Check: Bill Shorten says everything is going up except your wages. Is he correct?

In the first leaders' debate of the 2019 election, Opposition Leader Bill Shorten has claimed wages growth under the Coalition is at record lows while living costs are rising across the board.