Tag Archives: financialcrisis

Lessons from the GFC symposium at Griffith’s Ship Inn Function Centre on 7 March

In this final week of January ten years ago, the fifth floor of the Treasury Building in Canberra was a hive of activity. Hard-working Treasury officials, including me, were putting together the 2009 Updated Economic and Fiscal Outlook in which … Continue reading

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What I’m reading – Bernanke’s Courage to Act

One of my favourite passages in Ben Bernanke’s memoir of the financial crisis and its aftermath, The Courage to Act, describes how, on the way to the Federal Reserve building to deal with the imploding Bear Stearns, Bernanke takes the … Continue reading

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Very little real growth in retail trade since financial crisis

Yesterday’s retail trade data for July from the ABS were disappointing and continue to show consumers are reluctant to spend. Indeed, in real terms (i.e. adjusting for inflation), there has been practically no growth in retail turnover since the financial … Continue reading

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Qld and WA were on similar growth paths, but Qld got knocked off by GFC

This month’s RBA chart pack contains a nice, informative chart depicting State shares of Australia’s GDP (see below). It shows that, up until the financial crisis in 2008, Queensland, like WA, was increasing its share of national GDP, but stalled … Continue reading

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Weird OECD create your own economy competition

In principle, I think it’s a good idea that the OECD is reaching out to young people to get them interested in economic policy issues, but this video competition strikes me as weird: Think differently: How would you shape tomorrow’s … Continue reading

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Hotels appear to have doubts about prospects for tourism recovery

Although there has been some recovery in room occupancy rates at hotels, motels and serviced apartments since the financial crisis (see first chart below), establishments are maintaining their financial crisis levels of staffing (see second chart below), which must impact … Continue reading

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