{"title":"Response to COVID-19: The Australian Fiscal Stimulus – HomeBuilder Program","authors":"Sarah Yanyue Yu","doi":"10.1111/1759-3441.12312","DOIUrl":null,"url":null,"abstract":"<p>The Australian Government launched the HomeBuilder Program as one of several fiscal policies designed to address the economic impact of COVID-19 on the Australian economy. This paper presents an economic analysis of the use of expansionary fiscal policy via transfer payments in the HomeBuilder Program. An overview of the HomeBuilder Program and its complements of existing Federal, State and Territory grants have been provided. Economic justifications of the HomeBuilder Program have also been presented. In addition, the paper looks at the changes in private new house sales, number of dwellings approved and new loan commitments with the introduction of the HomeBuilder Program. Finally, the paper examines the eligibility criteria of the HomeBuilder Program against three groups of applicants and finds that people who plan to purchase a house and land package or build a new home on a pre-owned vacant block benefit the most from the programme.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":null,"pages":null},"PeriodicalIF":0.9000,"publicationDate":"2021-05-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/1759-3441.12312","citationCount":"2","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economic Papers","FirstCategoryId":"1085","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/1759-3441.12312","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 2
Abstract
The Australian Government launched the HomeBuilder Program as one of several fiscal policies designed to address the economic impact of COVID-19 on the Australian economy. This paper presents an economic analysis of the use of expansionary fiscal policy via transfer payments in the HomeBuilder Program. An overview of the HomeBuilder Program and its complements of existing Federal, State and Territory grants have been provided. Economic justifications of the HomeBuilder Program have also been presented. In addition, the paper looks at the changes in private new house sales, number of dwellings approved and new loan commitments with the introduction of the HomeBuilder Program. Finally, the paper examines the eligibility criteria of the HomeBuilder Program against three groups of applicants and finds that people who plan to purchase a house and land package or build a new home on a pre-owned vacant block benefit the most from the programme.
期刊介绍：
Economic Papers is one of two journals published by the Economics Society of Australia. The journal features a balance of high quality research in applied economics and economic policy analysis which distinguishes it from other Australian journals. The intended audience is the broad range of economists working in business, government and academic communities within Australia and internationally who are interested in economic issues related to Australia and the Asia-Pacific region. Contributions are sought from economists working in these areas and should be written to be accessible to a wide section of our readership. All contributions are refereed.
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