Introduction to the Policy Forum

This Policy Forum highlights the links between the exchange rate and Australia's macroeconomic policy.     

Introduction to the Policy Forum on Commonwealth–State Funding Arrangements

This article introduces the Policy Forum on funding arrangements between the Commonwealth and the States.     

Special Policy Forum on Unemployment: Editorial Note

The papers for this Policy Forum were presented at a Melbourne Institute Conference in November. Comments by discussants are included.     

Australian Government Policy on Retirement Incomes*

Australia has evolved an unusual dual system of retirement incomes support. There is a means-tested flat rate age pension and a system of occupational superannuation receiving considerable tax concessions. The current system gives rise to four major problems. These are enumerated and possible options for reform discussed.     

Australian Macroeconomic Policy Experience*

This paper looks at Australian macroeconomic experience from approximately 1912 to 1985. The whole period is divided into five episodes. The idea in preparing this paper was to try to answer three questions namely: how did Australian experience differ from that of other OECD countries, what policy lessons could be learnt, and finally, what light could be shed on the relevance of various macroeconomic theories notably rational expectations. In fact. the questions have by no means been adequately answered though the paper goes furthest in dealing with the first question. I hope it will encourage further discussion and research¹ Anticipating some of the conclusions, the historical review suggests that Australian experiences have been fairly similar to those of other OECD countries. notably European countries. But the timing has sometimes differed the Australian wages explosions have been (more or less) exceptional and recently Australia has been special in having on incomes policy, It also appears that the theory of rational expectations does not get much support from Australian was behaviour, that policy from 1916 to 1981 was not really monetarist, and that fiscal expansions since 1982 have been made possible by the availability of the international capital market.