Did Australia’s Fiscal Stimulus Counter Recession?: Evidence from the National Accounts

Makin, Anthony J.

doi:10.22459/ag.17.02.2010.01

Cited by 16 publications

(16 citation statements)

References 7 publications

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“…The first round was targeted at consumers in late 2008 and the second and more substantial round was oriented towards infrastructure spending in 2009 and beyond (Barrett ; Economics References Committee ; Fenna ; Garnaut and Smith ; Swan and Tanner ; Taylor and Uren ). Continuing strong demand from China for iron ore and coal ensured that Australia sailed through the GFC as one of the very few OECD economies to avoid recession (Davidson ; Day ; Makin ).…”

Section: The 2008 Global Financial Crisis and Its Aftermathmentioning

confidence: 99%

The Economic Policy Agenda in Australia, 1962–2012

Fenna

2013

Aust J Public Adm

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This paper surveys Australian economic policy over the last half century, identifying patterns and punctuations in the management of both macroeconomic and more structural challenges. It highlights the extent to which the economic policy agenda has been dictated by economic forces, while acknowledging the ideological preferences governments bring to their task. In retrospect, this half century in Australia has been dominated by macroeconomic turmoil and structural adjustment in the middle decades. Australian governments had to deal simultaneously with the macroeconomic problems of inflation and recession from the mid-1970s to the early 1990s while also facing the need to dismantle the development framework that had been in place since Federation or even earlier.

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Section: The 2008 Global Financial Crisis and Its Aftermathmentioning

confidence: 99%

The Economic Policy Agenda in Australia, 1962–2012

Fenna

2013

Aust J Public Adm

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“…Labor sought to capitalise on the relatively strong performance of the economy during the global financial crisis (GFC). The government attributed this strong performance to its stimulus package, which involved spending over AU$50 billion on infrastructure development and giving a cash 'tax bonus' to eligible taxpayers (Makin 2010). In total, the stimulus package amounted to 2.6 per cent of GDP during the 2008-10 planning period, double that of the next highest spenders among the countries of the Organisation for Economic Co-operation and Development (OECD) (Wettenhall 2011, 79).…”

Section: The Election Campaignmentioning

confidence: 99%

Leadership Change, Policy Issues and Voter Defection in the 2010 Australian Election

McAllister

Bean

Pietsch

2012

Australian Journal of Political Science

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Leadership change formed the backdrop to the 2010 Australian federal election, with the replacement of Kevin Rudd as Prime Minister by Julia Gillard, the country's first female Prime Minister. This article uses the 2010 Australian Election Study to examine patterns of voter defection between the 2007 and 2010 elections. The results show that the predominant influence on defection was how voters rated the leaders. Julia Gillard was popular among female voters and her overall impact on the vote was slightly greater than that of Tony Abbott. Defectors from Labor to the Greens disapproved of Kevin Rudd's dismissal from office. Policy issues were second in importance after leadership, particularly for those moving from the Coalition to Labor, who were concerned about health and unemployment. Overall, the results point to the enduring importance of leaders as the predominant influence on how voters cast their ballot.

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“…In April and May 2009 seasonally adjusted retail turnover was higher by approximately 1 per cent. This suggests some of the stimulus money may have contributed to increased retail trade although estimates for the impact of the stimulus cheques on GDP are very small (Lim et al ., ; Makin, ).…”

Section: Introductionmentioning

confidence: 99%

How Windfall Income Increases Gambling at Poker Machines

Buddelmeyer

Peyton

2014

Economic Record

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In December 2008 and March–April 2009, the Australian Government used fiscal stimulus as a short‐run economic stabilisation tool for the first time since the 1990s. In May–June 2012, households received lump‐sum cheques as compensation for the introduction of the Carbon Tax scheduled for 1 July 2012. This article examines the relationship between these financial windfalls and spending at electronic gaming machines (EGMs) using data from 62 local government areas in Victoria, Australia. The results show large increases in spending at EGMs during the periods when Australian households received economic stimulus cheques. We estimate increased spending at EGMs in December 2008, for example, amounted to 1 per cent of the total stimulus for that period. These findings are consistent with behavioural models of consumption and demonstrate the relative power of framing windfall income as a bonus rather than rebate, especially when targeted at particular sociodemographic subpopulations. Our analysis also calls into question the conventional wisdom that large portions of government payments end up in poker machines.

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Did Australia’s Fiscal Stimulus Counter Recession?: Evidence from the National Accounts

Cited by 16 publications

References 7 publications

The Economic Policy Agenda in Australia, 1962–2012

The Economic Policy Agenda in Australia, 1962–2012

Leadership Change, Policy Issues and Voter Defection in the 2010 Australian Election

How Windfall Income Increases Gambling at Poker Machines

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