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    <title>Institutional Economics</title>
    <link>http://www.institutional-economics.com/index.php/section/index/</link>
    <description></description>
    <dc:language>en</dc:language>
    <dc:creator>stephen_kirchner@institutional-economics.com</dc:creator>
    <dc:date>2010-09-02T00:53:09+00:00</dc:date>
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      <rdf:li rdf:resource="http://www.institutional-economics.com/index.php/weblog/fundamentals_of_australian_house_price_inflation/" />
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    rdf:about="http://www.institutional-economics.com/index.php/section/comments/1452/"
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    dc:title="Fundamentals of Australian House Price Inflation"
    dc:identifier="http://www.institutional-economics.com/index.php/section/comments/1452/" 
    dc:subject="Economics,Financial Markets,House Prices"
    dc:description="There is a lot of ill&#45;informed offshore commentary about Australian house price inflation, with anecdotal reports suggesting that some hedge funds are putting on trades designed to capitalise on what they see as an inevitable Australian house price bust. We have heard all this before from a local debate about house prices that goes back to at least 2003 and substantially predates international interest in this issue since 2007. In 2005, &amp;lt;a href=&quot;http://online.wsj.com/article/0,,SB111766233843548579,00.html?mod=opinion_main_commentaries&quot;&#8230;"
    dc:creator="skirchner"
    dc:date="2010-09-02 01:53:09 AM GMT" />
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      <rdf:li rdf:resource="http://www.institutional-economics.com/index.php/weblog/the_broken_windscreen_fallacy/" />
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    rdf:about="http://www.institutional-economics.com/index.php/section/comments/1451/"
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    dc:title="The Broken Windscreen Fallacy"
    dc:identifier="http://www.institutional-economics.com/index.php/section/comments/1451/" 
    dc:subject="Economics,Fiscal Policy"
    dc:description="The &amp;lt;a href=&quot;http://www.boston.com/bostonglobe/editorial_opinion/oped/articles/2010/09/01/clunkers_a_classic_government_folly/&quot; title=&quot;policies&quot;&amp;gt;policies&amp;lt;/a&amp;gt; the current caretaker government would like to emulate:

&amp;lt;blockquote&amp;gt;&amp;lt;i&amp;gt;When all is said and done, Cash for Clunkers was a deplorable exercise in budgetary wastefulness, asset destruction, environmental irrelevance, and economic idiocy. Other than that, it was a screaming success&amp;lt;/i&amp;gt;.&amp;lt;/blockquote&amp;gt;
"
    dc:creator="skirchner"
    dc:date="2010-09-02 12:00:38 AM GMT" />
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      <rdf:li rdf:resource="http://www.institutional-economics.com/index.php/weblog/how_much_stimulus_is_too_much/" />
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    rdf:about="http://www.institutional-economics.com/index.php/section/comments/1450/"
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    dc:title="How Much Stimulus is Too Much?"
    dc:identifier="http://www.institutional-economics.com/index.php/section/comments/1450/" 
    dc:subject="Economics,Financial Markets,Fiscal Policy"
    dc:description="&amp;lt;a href=&quot;http://www.forbes.com/2010/08/30/economics&#45;paul&#45;krugman&#45;stimulus&#45;opionions&#45;columnists&#45;richard&#45;epstein.html&quot; title=&quot;Richard Epstein&quot;&amp;gt;Richard Epstein&amp;lt;/a&amp;gt; wants to know."
    dc:creator="skirchner"
    dc:date="2010-09-01 02:42:37 AM GMT" />
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    dc:title="Fiscal Policy After the Election"
    dc:identifier="http://www.institutional-economics.com/index.php/section/comments/1449/" 
    dc:subject="Economics,Financial Markets,Fiscal Policy"
    dc:description="&amp;lt;a href=&quot;http://www.theaustralian.com.au/national&#45;affairs/saddled&#45;with&#45;legacy&#45;of&#45;fiscal&#45;extravagance/story&#45;fn59niix&#45;1225911594527&quot; title=&quot;Tony Makin&quot;&amp;gt;Tony Makin&amp;lt;/a&amp;gt; argues in The Australian that: &amp;lt;blockquote&amp;gt;&amp;lt;i&amp;gt;Whichever side forms government, it will have to live with the legacy of the fiscal extravagance since October 2008. Just as present budgetary actions have implications for future economic activity, past actions have economic implications for the present and the near future. Questions that&#8230;"
    dc:creator="skirchner"
    dc:date="2010-08-30 02:30:15 AM GMT" />
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    dc:title="Political Insiders and Anti&#45;Gaming Wowsers"
    dc:identifier="http://www.institutional-economics.com/index.php/section/comments/1448/" 
    dc:subject="Economics,Financial Markets,Politics"
    dc:description="There are calls to &amp;lt;a href=&quot;http://www.theaustralian.com.au/national&#45;affairs/call&#45;for&#45;ban&#45;on&#45;election&#45;bets/story&#45;fn59niix&#45;1225909604173&quot; title=&quot;ban political insiders from election betting markets&quot;&amp;gt;ban political insiders from election betting markets&amp;lt;/a&amp;gt;. Apart from the usual anti&#45;gaming wowsers like Nick Xenophon, I suspect this is motivated by the same mistaken notion of fairness that supports anti&#45;insider trading laws in relation to equity securities. As Henry Manne&#8217;s work has shown, anti&#45;insider&#8230;"
    dc:creator="skirchner"
    dc:date="2010-08-26 05:36:43 AM GMT" />
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    dc:title="Low Expectations: Why Financial Markets Didn&#39;t Care About the Election Result"
    dc:identifier="http://www.institutional-economics.com/index.php/section/comments/1447/" 
    dc:subject="Economics,Financial Markets,Politics"
    dc:description="Financial markets usually take federal election outcomes in their stride, an indication that the result is either not a surprise or makes very little difference to expected economic and financial outcomes. The fact that markets have been just as sanguine when faced with the prospect of a hung parliament for the first time since 1940 implies that markets do not expect public policy outcomes to be appreciably worse under the various options for a minority or (small &#8216;c&#8217;) coalition government&#8230;"
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    dc:date="2010-08-24 04:51:02 AM GMT" />
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    dc:title="The Future of US Housing Finance"
    dc:identifier="http://www.institutional-economics.com/index.php/section/comments/1446/" 
    dc:subject="Economics,Financial Markets"
    dc:description="Peter Wallison&#8217;s &amp;lt;a href=&quot;http://www.american.com/archive/2010/august/when&#45;economic&#45;policy&#45;became&#45;social&#45;policy&quot; title=&quot;gloomy thoughts&quot;&amp;gt;gloomy thoughts&amp;lt;/a&amp;gt;."
    dc:creator="skirchner"
    dc:date="2010-08-24 04:04:13 AM GMT" />
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    rdf:about="http://www.institutional-economics.com/index.php/section/comments/1444/"
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    dc:title="Bonfire of Kevin Rudd&#8217;s Vanity"
    dc:identifier="http://www.institutional-economics.com/index.php/section/comments/1444/" 
    dc:subject="Politics"
    dc:description="Whoever forms government in the wake of Saturday&#8217;s federal election, the result is as comprehensive a repudiation of Kevin Rudd and his legacy as one could reasonably hope for. Any suggestion that Kevin Rudd&#8217;s liquidation as Prime Minister in June was a net negative for the ALP withstands little scrutiny. It is ill&#45;advised for members of the conservative side of politics to suggest otherwise or confect sympathy over the manner of Rudd&#8217;s demise. We should always be thankful to the&#8230;"
    dc:creator="skirchner"
    dc:date="2010-08-22 04:06:45 AM GMT" />
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    dc:title="Sydney: Too Many People in 1912?"
    dc:identifier="http://www.institutional-economics.com/index.php/section/comments/1443/" 
    dc:subject="Economics,Population &amp;amp; Migration"
    dc:description="I have an &amp;lt;a href=&quot;http://www.theaustralian.com.au/national&#45;affairs/commentary/city&#45;got&#45;big&#45;but&#45;never&#45;grew&#45;up/story&#45;e6frgd0x&#45;1225907040578&quot; title=&quot;op&#45;ed&quot;&amp;gt;op&#45;ed&amp;lt;/a&amp;gt; in today&#8217;s Australian referencing an article in the Sydney Morning Herald from 1912 about how Sydney&#8217;s then transport system supposedly could not cope with a population of 700,000. The text below the fold is a slightly longer version that went out on Friday in the Ideas@TheCentre series. You can subscribe to Ideas@TheCentre&#8230;"
    dc:creator="skirchner"
    dc:date="2010-08-19 12:51:23 AM GMT" />
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    dc:title="The $389 Billion Third Rail of American Politics"
    dc:identifier="http://www.institutional-economics.com/index.php/section/comments/1442/" 
    dc:subject="Economics,Financial Markets"
    dc:description="The US Treasury Department convened a conference on the vexed issue of housing finance reform. Remarkably, even the &amp;lt;a href=&quot;http://www.nytimes.com/2010/08/17/business/17sorkin.html?_r=2&amp;ref=business&quot; title=&quot;New York Times&quot;&amp;gt;New York Times&amp;lt;/a&amp;gt; saw straight through the politics of GSE reform in its reporting on proceedings: &amp;lt;blockquote&amp;gt;&amp;lt;i&amp;gt;The consensus was that neither Democrats nor Republicans wanted to touch an issue that would dredge up decisions made by both parties over the last decade that looked&#8230;"
    dc:creator="skirchner"
    dc:date="2010-08-18 12:51:24 AM GMT" />
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    <item rdf:about="http://www.institutional-economics.com/index.php/weblog/fundamentals_of_australian_house_price_inflation/">
      <title>Fundamentals of Australian House Price Inflation</title>
      <link>http://www.institutional-economics.com/index.php/weblog/fundamentals_of_australian_house_price_inflation/</link>
      <description></description>
      <dc:subject>Economics, Financial Markets, House Prices</dc:subject>
      <dc:creator>skirchner</dc:creator>
      <dc:date>2010-09-02T01:53:09+00:00</dc:date>
    </item>

    <item rdf:about="http://www.institutional-economics.com/index.php/weblog/the_broken_windscreen_fallacy/">
      <title>The Broken Windscreen Fallacy</title>
      <link>http://www.institutional-economics.com/index.php/weblog/the_broken_windscreen_fallacy/</link>
      <description></description>
      <dc:subject>Economics, Fiscal Policy</dc:subject>
      <dc:creator>skirchner</dc:creator>
      <dc:date>2010-09-02T00:00:38+00:00</dc:date>
    </item>

    <item rdf:about="http://www.institutional-economics.com/index.php/weblog/how_much_stimulus_is_too_much/">
      <title>How Much Stimulus is Too Much?</title>
      <link>http://www.institutional-economics.com/index.php/weblog/how_much_stimulus_is_too_much/</link>
      <description></description>
      <dc:subject>Economics, Financial Markets, Fiscal Policy</dc:subject>
      <dc:creator>skirchner</dc:creator>
      <dc:date>2010-09-01T02:42:37+00:00</dc:date>
    </item>

    <item rdf:about="http://www.institutional-economics.com/index.php/weblog/fiscal_policy_after_the_election/">
      <title>Fiscal Policy After the Election</title>
      <link>http://www.institutional-economics.com/index.php/weblog/fiscal_policy_after_the_election/</link>
      <description></description>
      <dc:subject>Economics, Financial Markets, Fiscal Policy</dc:subject>
      <dc:creator>skirchner</dc:creator>
      <dc:date>2010-08-30T02:30:15+00:00</dc:date>
    </item>

    <item rdf:about="http://www.institutional-economics.com/index.php/weblog/political_insiders_and_anti-gaming_wowsers/">
      <title>Political Insiders and Anti&#45;Gaming Wowsers</title>
      <link>http://www.institutional-economics.com/index.php/weblog/political_insiders_and_anti-gaming_wowsers/</link>
      <description></description>
      <dc:subject>Economics, Financial Markets, Politics</dc:subject>
      <dc:creator>skirchner</dc:creator>
      <dc:date>2010-08-26T05:36:43+00:00</dc:date>
    </item>

    <item rdf:about="http://www.institutional-economics.com/index.php/weblog/low_expectations_why_financial_markets_didnt_care_about_the_election_result/">
      <title>Low Expectations: Why Financial Markets Didn&#8217;t Care About the Election Result</title>
      <link>http://www.institutional-economics.com/index.php/weblog/low_expectations_why_financial_markets_didnt_care_about_the_election_result/</link>
      <description></description>
      <dc:subject>Economics, Financial Markets, Politics</dc:subject>
      <dc:creator>skirchner</dc:creator>
      <dc:date>2010-08-24T04:51:02+00:00</dc:date>
    </item>

    <item rdf:about="http://www.institutional-economics.com/index.php/weblog/the_future_of_us_housing_finance/">
      <title>The Future of US Housing Finance</title>
      <link>http://www.institutional-economics.com/index.php/weblog/the_future_of_us_housing_finance/</link>
      <description></description>
      <dc:subject>Economics, Financial Markets</dc:subject>
      <dc:creator>skirchner</dc:creator>
      <dc:date>2010-08-24T04:04:13+00:00</dc:date>
    </item>

    <item rdf:about="http://www.institutional-economics.com/index.php/weblog/bonfire_of_kevin_rudds_vanity/">
      <title>Bonfire of Kevin Rudd&#8217;s Vanity</title>
      <link>http://www.institutional-economics.com/index.php/weblog/bonfire_of_kevin_rudds_vanity/</link>
      <description></description>
      <dc:subject>Politics</dc:subject>
      <dc:creator>skirchner</dc:creator>
      <dc:date>2010-08-22T04:06:45+00:00</dc:date>
    </item>

    <item rdf:about="http://www.institutional-economics.com/index.php/weblog/sydney_too_many_people_in_1912/">
      <title>Sydney: Too Many People in 1912?</title>
      <link>http://www.institutional-economics.com/index.php/weblog/sydney_too_many_people_in_1912/</link>
      <description></description>
      <dc:subject>Economics, Population &amp; Migration</dc:subject>
      <dc:creator>skirchner</dc:creator>
      <dc:date>2010-08-19T00:51:23+00:00</dc:date>
    </item>

    <item rdf:about="http://www.institutional-economics.com/index.php/weblog/the_389_billion_third_rail_of_american_politics/">
      <title>The $389 Billion Third Rail of American Politics</title>
      <link>http://www.institutional-economics.com/index.php/weblog/the_389_billion_third_rail_of_american_politics/</link>
      <description></description>
      <dc:subject>Economics, Financial Markets</dc:subject>
      <dc:creator>skirchner</dc:creator>
      <dc:date>2010-08-18T00:51:24+00:00</dc:date>
    </item>


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