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Partied too hard? Julian Smith/AAP

Australia must prepare for the mother of all hangovers

You know Australia’s in trouble when the Reserve Bank cuts interest rates. Last week, the central bank did precisely that, in belated recognition of the income recession that has struck. Gross domestic…
The policies Australia needs are being blocked in the Senate. Lukas Coch/AAP

Senate stalemate must end so we can face economic headwinds

Much of the current political turmoil in Australia can be traced to Bill Clinton’s famous aphorism: “it’s the economy stupid” – in particular, the plunge in world commodity prices over the past few years…
The drop in oil prices, and consequently fuel costs, is driving down inflation and helping the Australian economy. Andy Rain/EPA/AAP

Interest rates decision could boil down to oil: RBA Shadow Board

The CAMA RBA Shadow Board is a project by the Centre for Applied Macroeconomic Analysis, based at the ANU, which asks industry and academic economists what interest rate the Reserve Bank of Australia should…
Volatility in the oil and gas markets is not being matched in the wider indexes. Flickr/arbyreed

Don’t panic: what you need to know about oil price volatility

Financial markets are certainly experiencing considerable turbulence at present, with a six year low in oil prices weighing on international exchanges and the value of Australia’s energy industry falling…
When the construction phase of Queensland LNG projects like this one in Gladstone moves into production, there will be winners and losers. Dave Hunt/AAP

Why gas isn’t the answer to falling commodity prices or employment

The large Queensland liquefied natural gas (LNG) projects currently under construction will begin production over the next two years. Exploiting previously unused reserves of coal seam gas, the LNG produced…
The falling oil price might take some time to translate to lower prices at the bowser. Julian Smith/AAP

The real winners and losers from the falling oil price

While this year’s relative stability in crude oil prices appears to have lulled us into a false sense of security, the dramatic fall over the last few weeks reminds us just how volatile these prices can…
Treasurer Joe Hockey and Finance Minister Mathias Cormann say the government’s mid year outlook sets the path to budget recovery. AAP/Lukas Coch

Federal budget deficit climbs to $40.4bn: experts react

The federal budget deficit will blow out to A$40.4 billion in 2014-15, up from the $29.8 billion forecast in May’s budget, according to the Mid-Year Economic and Fiscal Outlook (MYEFO) released today…
Oil prices have dropped to levels not seen in years. It’s not all good news. Reuters

Oil price drop offers short-term gains but long-term pains

The recent drop in crude oil and gasoline prices in the United States is a nice stocking stuffer for consumers this holiday season, but it could turn into a lump of coal. A global oil glut has caused the…
There is such a thing as ‘too precise’ when it comes to numbers. So what’s appropriate? Erik Olsson

The significance of digits: just how reliable are reported numbers?

When numbers of any sort are presented in mathematics, science, business, government or finance, it’s fair to say a reader assumes that the data are reasonably reliable to their last digit. But presenting…
A missile submarine conducts tests. Official US Navy Imagery

History suggests intervention in Syria will be bad for business

Since last week’s gas attack on a Damascus suburb, the political class has been gripped by the idea that “something must be done.” Meanwhile Wall Street, already declining through early August, fell further…
A myopic focus on short-term cyclical business cycles has meant successive governments have failed to carry much needed structural reform. Image sourced from www.shutterstock.com

Beyond the boom: have we frittered away our opportunities?

No sooner had Treasurer Wayne Swan accused the Europeans of “mindless austerity” a month ago than he embarked on a resolute but most likely counter-productive search for cost savings in the coming May…
As the price of gold continues to plunge, many investors are wondering whether the shiny commodity has lost its lustre. Flickr\Bullion Vault

A bear in there: the fading fortunes of the gold market

It has been a turbulent time for the gold market. The past two days of trading have been particularly volatile, with gold prices recording the sharpest two-day drop in 30 years . The severity of the fall…
As investment in mining projects hits its peak, the Australian economy will undergo a transition to export-led economic growth. AAP

Tougher times ahead as the mining boom shifts gears

Various explanations have been offered for Prime Minister Julia Gillard’s decision to announce the date of the 2013 federal election almost eight months in advance. Most commentators, both those who applaud…
Australia’s mining boom is both a boon and a bane to our economic development.

Managing the mighty structural forces unleashed by the mining boom

Australia’s stark comparative advantage in mining is both a boon and a bane to our economic development. Investment in the mining industry as a share of Australia’s GDP has already reached unprecedented…
Celebrating: after being seen as a basket case for so long, Brazil’s economy is now powering. AAP

Brazil and Australia: the rise of the southern hemisphere powers

Few countries have been left unscathed by the global financial crisis and it seems that they are all situated in the southern hemisphere. Brazil and Australia are some of them. Recently, their economies…
Do recent falls in commodities suggest more severe conditions in the future? AAP/AFP

Fluctuating commodity prices: what are the implications for Australia?

Commodity prices have see-sawed in the last few weeks amid ongoing turmoil in Europe and concerns over China. Should we view recent falls in commodity prices with concern? Do these movements suggest more…
Uncertainty about the US economy is driving investors back to the safe-haven metal. AAP

Explainer: Why gold is still precious for investors

The price of gold reached a record high of $US1607.01 an ounce on Tuesday as investors turn to the precious metal amid uncertain global economic conditions. University of Western Australian Professor of…

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