The Macroeconomic Implications of Current Fiscal Policy

Article Abstract:

In Australia, it seems there is no reason to expect tightening of monetary policy. Wages growth is relatively moderate. With recent microeconomic reforms any stimulus to demand coming from import substitution and export growth is not likely to lead to noticable inflationary pressure. With the stubborn and high unemployment rate an inflation rate near zero, loosening of monetary policy might be justifiable. It seems unlikely that fiscal policy in place will have a short-run impact of significance on economic activity. Some medium- to long-term dangers might come from the potential supply-side effects of tight fiscal policy.

Political aspects, Macroeconomics

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Reforming the Labour Market: An Assessment of the UK Policies of the Thatcher Era

Article Abstract:

The economic policies under Margaret Thatcher had significant impacts on the United Kingdom and Australian labor markets. The unbalancing of union power increased microeconomic efficiency but had a detrimental effect on employees through reduced wages and less stable contract terms. Resulting labor market flexibility may have a negative socioeconomic effect.

United Kingdom, Economic aspects, Labor market, Thatcher, Margaret, Manpower policy

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