Economic Papers最新文献

{"title":"Policy Frameworks and Economic Incentives to Effectively Stimulate the Renewable Hydrogen Market in Australia*","authors":"Tahlia Nolan,&nbsp;Tim Nelson","doi":"10.1111/1759-3441.70012","DOIUrl":"https://doi.org/10.1111/1759-3441.70012","url":null,"abstract":"<p>This paper provides a comprehensive assessment of policies and economic incentives aimed at developing a renewable hydrogen industry in Australia. As global decarbonisation efforts intensify, renewable hydrogen is emerging as a potential substitute for fossil fuels. However, substantial technological and economic challenges must be overcome to achieve competitiveness and widespread adoption. This study examines both demand- and supply-side policies, presenting a novel taxonomy to guide Australian policymakers in shaping effective strategies. A structured desktop assessment is then applied to key policy instruments and to Australia's current policy mix, identifying strengths in supply-side support but weaker coverage of demand creation, price competitiveness and market formation. To complement this assessment, a stakeholder survey of government and industry participants is used to evaluate the importance and adequacy of current policy settings. The survey identifies the largest shortfalls in reliable demand creation, access to low-cost renewable electricity, predictable pricing signals and long-term policy certainty. It also shows that these gaps translate directly into commercial requirements, including long-term offtake contracts, high certainty thresholds and a persistent risk premium for investment. The findings suggest that Australia's policy framework is too supply-led, and that stronger demand-side and market-formation measures are required to support a scalable renewable hydrogen industry.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"45 1","pages":"32-54"},"PeriodicalIF":1.0,"publicationDate":"2026-08-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1759-3441.70012","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148816580","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Missing Link in Australia's Critical Minerals Strategy: The Case for Establishing a Sovereign Resources Fund","authors":"Russell Smyth,&nbsp;Joaquin Vespignani","doi":"10.1111/1759-3441.70013","DOIUrl":"https://doi.org/10.1111/1759-3441.70013","url":null,"abstract":"<p>Australia possesses the highest <i>per capita</i> endowment of critical minerals and other natural resources in the world. These minerals are essential for decarbonising the global economy. Australia stands out for having among the most sustainable and responsible mining practices globally. Paradoxically, though, while countries with comparatively limited potential for sustainable critical mineral production are investing heavily in the sector, Australia risks falling behind. This underperformance is partly due to the weak connection between resource rents and the tangible benefits experienced by the population. To address this challenge, we propose taxation reform coupled with the establishment of a sovereign resources fund that allocates a substantial share of mining sector revenues directly to individual pension accounts and future education funds. This approach would ensure that the economic gains from resource extraction are more transparently and equitably shared with all Australians, while enabling the country to expand sustainable mineral production and play a leading role in the clean energy transition.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"45 1","pages":"18-31"},"PeriodicalIF":1.0,"publicationDate":"2026-08-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1759-3441.70013","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148816647","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A Growth Mindset: Restoring Growth to the Heart of Policy Making in Australia*","authors":"Danielle Wood","doi":"10.1111/1759-3441.70014","DOIUrl":"https://doi.org/10.1111/1759-3441.70014","url":null,"abstract":"<p>This paper is an edited version of a keynote speech delivered by Productivity Commission Chair, Danielle Wood, on 8 July 2025 at the Australian Conference of Economists. The paper is a conversation on productivity and its importance to the Australian economy. A historical lens is applied to show the outcomes of productivity-led economic growth for Australian households. The paper then moves forward to discuss multiple aspects of the slowdown in productivity over the past decade, drawing out lessons for policy reform to kickstart productivity growth.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"45 1","pages":"4-17"},"PeriodicalIF":1.0,"publicationDate":"2026-08-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148816679","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Impact of Working from Home on Obesity in Australia*","authors":"Opoku Adabor","doi":"10.1111/1759-3441.70011","DOIUrl":"https://doi.org/10.1111/1759-3441.70011","url":null,"abstract":"<p>Obesity is one of the most prevalent health challenges in high-income countries, prompting growing policy interest in identifying its underlying determinants to inform effective interventions. This study contributes to the literature and policy debate by using long-run Australian panel data and an instrumental variable approach to estimate the causal effect of working from home on obesity. Using household panel data from Australia, we find that working from home increases the likelihood of being obese over time. Mediation analysis indicates that this relationship is primarily driven by reduced physical activity and an increased frequency of meals consumed at home, shedding light on the behavioural mechanisms through which remote work contributes to obesity.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"45 1","pages":"55-77"},"PeriodicalIF":1.0,"publicationDate":"2026-08-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1759-3441.70011","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148816441","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"History of Economic Policy in Australia*","authors":"Ross Gittins","doi":"10.1111/1759-3441.70003","DOIUrl":"https://doi.org/10.1111/1759-3441.70003","url":null,"abstract":"<p>The author recounts notable issues and developments in the Australian federal government's management of the economy over the fifty years since 1974, relying on his knowledge of events he observed as an economic commentator speaking with public servants, academics and politicians and writing several times a week in The Sydney Morning Herald and, for much of that time, The Age, Melbourne. Events include the arrival of stagflation in the early 1970s, the loss of faith in Keynesian remedies, the flirtation with Friedman's monetarism and attempts to control the money supply, the switch from fiscal policy to monetary policy as the dominant instrument for economic demand management, the rising influence of the central bank and the adoption of inflation targeting. Other issues of concern included the balance of payments, the twin deficits hypothesis and the goals of microeconomic reform, since known as neoliberalism. The paper represents reflections from a prominent economic journalist in Australia.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"44 3","pages":"217-222"},"PeriodicalIF":0.9,"publicationDate":"2025-12-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145772555","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Digital Financial Inclusion and Sustainable Development in ASEAN: Insights from Monte Carlo Simulations*","authors":"Nguyen Tien Khoi,&nbsp;Le Quoc Dinh","doi":"10.1111/1759-3441.70002","DOIUrl":"https://doi.org/10.1111/1759-3441.70002","url":null,"abstract":"<p>Climate change is a global challenge that demands collective action, especially as a significant portion of the population—more than half—lacks access to formal financial systems. Addressing these challenges is critical for achieving sustainable development (SD). In the context of global economic shifts toward digital transformation and the increasing role of digital technology in finance, digital financial inclusion (DFI) is expected to be a key driver in advancing SD across countries. This study examines the impact of DFI on SD in ASEAN countries from 2007 to 2022. Using Bayesian methods, which effectively address issues such as small sample sizes, autocorrelation and endogeneity, the results show that DFI generally promotes SD. However, when considering economic cycles, DFI can have a negative impact on SD. When examining the effects of DFI on SD in individual countries, the findings indicate that DFI positively influences SD in Indonesia, Myanmar, Thailand, Singapore and Vietnam, while it has a negative effect in Cambodia, Malaysia and the Philippines. Based on these findings, the study suggests the following policy implications.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"44 3","pages":"233-256"},"PeriodicalIF":0.9,"publicationDate":"2025-11-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145772638","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Economic Policy Challenges*","authors":"Guy Debelle","doi":"10.1111/1759-3441.70001","DOIUrl":"https://doi.org/10.1111/1759-3441.70001","url":null,"abstract":"<p>This article is about the interaction between policymaking and research and also between policymakers and academia: what that should look like, and whether that is working as well as it could at the moment. The wealth of data and computational capabilities today, coupled with the breadth and depth of theory, could be usefully channelled into better applications to address economic issues and support policy reforms.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"44 3","pages":"210-216"},"PeriodicalIF":0.9,"publicationDate":"2025-09-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1759-3441.70001","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145772301","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Determinants and Drivers of Financial Inclusion in the West African Economic and Monetary Union (WAEMU): A Multidimensional Analysis","authors":"Eugène Dimaviya Compaore,&nbsp;Boukaré Maiga,&nbsp;Asmo Guira","doi":"10.1111/1759-3441.70000","DOIUrl":"https://doi.org/10.1111/1759-3441.70000","url":null,"abstract":"<p>Using data from the Global Findex surveys conducted in 2017 and 2021, this study assesses the extent and determinants of multidimensional financial inclusion in the West African Economic and Monetary Union (WAEMU) over these two periods. A multidimensional financial inclusion index was constructed using the methodology of Alkire and Foster (2011). To analyse the determinants and drivers of multidimensional financial inclusion, a probit model and Fairlie's (2005) decomposition were employed. Although the results indicate an increase in the level of multidimensional financial inclusion in the WAEMU, the rate of multidimensional financial exclusion remains high. This improvement in financial inclusion between the two periods can be attributed to changes in individuals' socio-economic characteristics. The findings also reveal significant disparities in financial inclusion between men and women, as well as among WAEMU member countries. In addition, significant relationships were observed between individuals' socio-economic characteristics and their multidimensional financial inclusion status. Policies aimed at promoting better economic opportunities and improving education levels are essential for increasing the rate of financial inclusion in the WAEMU.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"44 3","pages":"257-277"},"PeriodicalIF":0.9,"publicationDate":"2025-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145772450","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Effective Rates of Protection in an Industrialising, Settler Economy: Estimates for Victoria (Australia) in 1880*","authors":"Brian D. Varian","doi":"10.1111/1759-3441.12438","DOIUrl":"https://doi.org/10.1111/1759-3441.12438","url":null,"abstract":"<p>This study estimates effective rates of protection for 33 manufacturing industries in Victoria in 1880. These estimates lead to eight observations. Notably, the effective rates of protection suggest that the magnitude of protection in late-nineteenth-century Victoria was considerably less than in the other industrialising, settler economies of Canada and the United States—to a more pronounced degree than suggested by nominal tariff levels. Also, colonial Victoria exhibits a very high correlation between nominal tariffs and effective rates of protection. This finding should enhance the confidence of economic historians in using the former as a proxy for the latter.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"44 2","pages":"136-146"},"PeriodicalIF":0.9,"publicationDate":"2025-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1759-3441.12438","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144598172","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Role of the Economist in Securing the Nation's Future","authors":"Ken Henry","doi":"10.1111/1759-3441.12440","DOIUrl":"https://doi.org/10.1111/1759-3441.12440","url":null,"abstract":"<p>Conventional neoclassical trade theory predicts that China's emergence from autarky would lift the relative price of labour-intensive products in that country and lower their relative price in most trade-exposed countries in the developed world, inducing a shift in those countries towards less capital-intensive modes of production, lowering rates of growth in both labour productivity and real wages. These impacts appear to have had political resonance in the United States. In that country, sharp adjustments in the prices of traded goods and services have delivered a lower terms-of-trade, a persistent current account deficit and a trade deficit with China. In Australia, the same adjustments in international prices have delivered a much higher terms-of-trade, a narrowing in the current account deficit, even a trade surplus in some years, and a trade surplus with China. Impacts on a country's terms-of-trade, current account balance and bilateral trade balances are irrelevant to an understanding of the implications for productivity and real wages of China's embrace of globalisation. But political leaders in both the United States and Australia evidently do not get it. Captured by a mercantilist mindset, Australia's leaders celebrate higher export prices, choosing to believe a dangerous myth, that the “mining boom” has been critical to Australian prosperity in the 21st century, even though workers have done poorly. Consistent with neoclassical trade theory, the Australian mining boom provides a plausible explanation for a couple of decades of very weak productivity growth and a fall in real wages. Standard international macroeconomic analysis tells the same story. In response to China's industrial expansion, Australian policy makers should have embarked on an ambitious programme of productivity-enhancing economic reforms, as they did in implementing the tariff reforms of the late 20th century. Instead, this century's celebration of the mining boom myth has delivered a torpor of policy complacency that has sold Australian workers down the drain. Australia's economists have been far too tolerant of this complacency. We should have been using our insights to assist in the construction of narratives for the nation's future that are based on reason, not mythology.</p>","PeriodicalId":45208,"journal":{"name":"Economic Papers","volume":"44 2","pages":"104-118"},"PeriodicalIF":0.9,"publicationDate":"2025-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144598732","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}