This episode on the limits of fiscal policy features highlights from host Gene Tunny's past conversations with the late Australian economist Professor Tony Makin and former OECD Ambassador Alex Robson. In the discussions, Tony Makin provides a balanced and insightful analysis of Australia's fiscal response to the COVID-19 pandemic, critiquing programs like JobKeeper while recognizing some justification. He and Alex Robson discuss the importance of considering the open economy impacts of fiscal stimulus and the long-term burdens of debt. The episode looks to validate Makin's warnings about the limits of discretionary fiscal policy through subsequent evidence and events. Gene summarizes the JobKeeper evaluation results and what happened in the Australian housing market following the pandemic fiscal stimulus.
This episode on the limits of fiscal policy features highlights from host Gene Tunny's past conversations with the late Australian economist Professor Tony Makin and former OECD Ambassador Alex Robson. In the discussions, Tony Makin provides a balanced and insightful analysis of Australia's fiscal response to the COVID-19 pandemic, critiquing programs like JobKeeper while recognizing some justification. He and Alex Robson discuss the importance of considering the open economy impacts of fiscal stimulus and the long-term burdens of debt. The episode looks to validate Makin's warnings about the limits of discretionary fiscal policy through subsequent evidence and events. Gene summarizes the JobKeeper evaluation results and what happened in the Australian housing market following the pandemic fiscal stimulus.
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EP119: What Tony Makin taught us about macroeconomics – Economics Explored
A Fiscal Vaccine for COVID-19 with Tony Makin – new podcast episode | Queensland Economy Watch
Fiscal policy papers by Tony Makin:
The Effectiveness of Federal Fiscal Policy: A Review
(PDF) Australia's Competitiveness: Reversing the Slide
Treasury analysis of JobKeeper:
Independent Evaluation of the JobKeeper Payment Final Report | Treasury.gov.au
The employment effects of JobKeeper receipt | Treasury.gov.au
News regarding unintended consequences of fiscal stimulus:
Thanks to Obsidian Productions for mixing the episode and to the show’s sponsor, Gene’s consultancy business www.adepteconomics.com.au.
Full transcripts are available a few days after the episode is first published at www.economicsexplored.com.