Jakub Hlávka, University of Southern California and Adam Rose, University of Southern California
Workplace absences, along with sales lost due to the cessation of brick-and-mortar retail shopping, airline travel and public gatherings, contributed the most.
A bigger-than-expected jump in inflation means the Fed may have to get more aggressive about interest rate hikes. An obscure economic indicator suggests it has room to do so.
Massive stimulus plans combined with rising production costs could lead to expectations that inflation will rise. And that alone could trigger an inflationary spiral not seen in 25 years.
David Hall, Auckland University of Technology and Nina Ives, Auckland University of Technology
New Zealand has put just over half of its NZ$50 billion pandemic stimulus towards clean energy, but several fossil fuel powered projects will slow down the country’s shift to a low-emissions economy.
Biden proposed $1.9 trillion in new coronavirus relief spending to help with the economic fallout of COVID-19. Four economists have a few ideas for him.
Current housing stimulus measures aim to boost buyer demand and are too small to sustain a recovery. A second round of stimulus is likely to be needed, and it should go into social housing supply.
Voters who own housing are strongly invested in increasing the value of their wealth-generating assets. And they strongly favour the Coalition, which knows to protect their interests.
As well as an infrastructure spending boost, governments are fast-tracking approvals. But these processes exist for a reason. If we get projects wrong, we live with the consequences for decades.
There has never been a better time for public money to go into improving the performance of Australian housing. We could have cut household bills and emissions, as well as saving construction jobs.
A long-term housing stimulus package that focuses on retrofitting to cut energy demand would also help households repay the debts being accumulated during this crisis.
The federal opposition’s idea for a bullet train from Melbourne to Brisbane is not a good use of a generation’s worth of infrastructure spending. It won’t even work as an economic stimulus.
Now is the time for a two-pronged strategy to ensure everyone has a home: a spot-purchasing program to find homes for people now in emergency accommodation, followed by social housing construction.
Construction employs one in ten Australians, with a broad range of skills, using mostly locally made materials. Building social housing would meet urgent social needs as well as creating jobs.
Professor; School of Economics, Finance and Property, and Director, Australian Housing and Urban Research Institute, Curtin Research Centre, Curtin University