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Gross National Product

Zac Gross

Gross takes on the Australian economy

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Latest Issues

The GST cannot stop inflation

The ABC recently ran a series asking what, if anything, governments can do about high inflation beyond simply relying on the Reserve Bank to raise interest rates (a policy tool that every knows is cruel and unusual).

One idea that gets flo...

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The Left Wing case for Higher Interest Rates

In both of the recent interest rate hiking cycles, there has been a strong pushback from left-wing writers and activists against the RBA for more or less doing their job.

I think that the RBA decisions since 2022 are largely justified on...

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Stockpiles vs Supply Shocks

You often hear that Australia is dangerously exposed because we don’t hold large domestic reserves of crude oil or refined fuels, and it’s often implied that if we had those stockpiles then we wouldn’t be facing the current surge in prices....

2 months ago
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The Monetary Morality Play

Paul Krugman infamously wrote that economics is not a morality play. Sometimes bad things happen to good people. And sometimes that is simply the economically best outcome - it is not possible or desirable for every virtue to be rewarded an...

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Three Cuts Forward, Four Hikes Back

Today the Reserve Bank of Australia hiked the cash rate 25 basis points to 3.85%. But the biggest news was event was buried in the forecast table of the Statement on Monetary Policy. The RBA’s forecasts, taken at face value, imply that four...

4 months ago
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  • Zac Gross

    Economics at Monash

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