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2008 08

Protectionism’s ‘Barren Truth’

I have a piece in the Business Spectator, which discusses the terms of trade argument for tariff protection in the context of the Bracks review of the car industry.

posted on 16 August 2008 by skirchner in Economics

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RBA Did Not Go Far or Fast Enough

I have an op-ed in today’s Age, arguing that:

TURNING points in the official interest rate cycle are usually accompanied by claims that monetary policy has gone too far. But if there is any criticism to be made of the Reserve Bank’s most recent tightening cycle, it is that it did not tighten far or fast enough.

The August Statement on Monetary Policy released yesterday contained this observation:

the increase in CPI inflation in Australia is not due only to energy and food prices. Measuring ‘core’ inflation in a broadly similar manner to that used in other industrial countries, inflation excluding food and energy and financial services has increased from around 2 per cent to 3 per cent over the past few years in Australia. This calculation indicates that inflation pressures here have been more broadly based over the past couple of years than in other countries. Indeed, inflation in Australia is now higher than the median of comparable countries in nearly all of the 11 major CPI categories.

posted on 11 August 2008 by skirchner in Economics, Financial Markets

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New Role

I have a taken up a new position as a Research Fellow with the Centre for Independent Studies.  I will still be using the blog to highlight the work I’m doing at CIS, so stay tuned.  The weekly newsletter has been discontinued.  The Business Spectator column will also be discontinued in its current format.

Part of my role is to involve other economists in the work of the Centre.  If you are interested in contributing to the CIS research program, I would encourage you to get in touch (skirchner-at-cis.org.au).  CIS has several formats for publishing economic and other research, ranging from short journal articles to Occasional Papers and Policy Monographs.

The easiest way to stay across the work of CIS is to become a member, which entitles you to receive all CIS publications by mail, including my output.  Donations over and above the annual membership rate are tax deductible.  You will be helping to ensure that some of the ideas developed on this blog over the years are given increased prominence.

posted on 04 August 2008 by skirchner in Economics

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