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International Economy

Challenges facing the G20 in 2013

The first issue of the Lowy Institute G20 Monitor, which will regularly report on G20 developments and analyse issues, has been released. The first issue of the Monitor, which is produced by the G20 Studies Centre, canvases the challenges facing the G20 in 2013

With friends in high places

Australia is a wealthy nation with a small population occupying a large continent located a great distance from our historical sources of security and prosperity. As a result, the single foreign policy theme which has united our otherwise diverse postwar prime ministers has been the desire to join (

How the RBA should manage a high $A

In an opinion piece in The Australian Financial Review, Lowy Institute Professorial Fellow Warwick McKibbin argues that when markets are distorted by foreign central banks, it might be better to deal directly with the distortion

The spectre of Malthus

In this 2009 Lowy Institute working paper, Mark Thirlwell looks at some initial lessons from the 2007-2008 crisis about living in a resource-constrained world. A revised version of this working paper was published in the journal Survival in June-July 2009: A New Era of Food Insecurity? By Alan

The world economy, Murphy law and Finagle corollary

Over the second half of 2011, the world economy seemed to be sliding inexorably towards another major financial crisis. In the event, actions by an aggressive European Central Bank managed to halt the slide to Eurogeddon. But a fragile world economy remains dangerously vulnerable to adverse shocks

Euro warning to carbon markets

In an article in The Australian Financial Review, Lowy Institute Professorial Fellow Warwick McKibbin writes on the similarities between Australia's carbon pricing model and the common currency arrangement in Europe.Australian Financial Review, Review, 2 December 2011, pp. 1,9

Subprime nation? America economic policy challenges

The August 2011 sovereign downgrade of the United States by Standard & Poor’s was seen by many international observers as a symbol of a US economy in relative decline. In a new Lowy Institute Perspectives, based on a speech he delivered last month to the National Security College at the

A tax to suit the times

Stephen Grenville describes the possible benefits of introducing a Tobin tax - a small tax on financial transactions - in slowing excessive international capital flows, and its place in addressing the eurozone crisis

Betting on the Great Convergence

In today's world economy, the line between developed and emerging markets is growing ever more blurred. At the Food for Thought event in Melbourne on 18 August 2011, Mark Thirlwell, Director of the Lowy Institute's International Economy Program, described some of the forces driving this convergence

Doom 'n gloom

S&P’s decision to downgrade US debt has helped trigger a market panic as investors fret about poor policy and lacklustre growth in the United States and the Eurozone.Watch Mark Thirlwell (International Economy Program Director) analyse this week's turmoil in the world’s financial markets

Gung-ho inflation fighters unwelcome

In an opinion piece in The Australian Financial Review's Economic Briefing section, Lowy Institute Visiting Fellow Stephen Grenville argues that tighter monetary policy is not the answer.Australian Financial Review, 4 July 2011, p. 23

Carbon moral authority lost

In an opinion piece in The Australian Financial Review, Lowy Institute Professorial Fellow Warwick McKibbin argues that the real debate on climate change is at the global level.Australian Financial Review, 28 May 2011, p. 61

Global fiscal consolidation

One important outcome of the Great Recession has been the rapid accumulation of government debt in many of the world’s developed economies. This growing debt burden represents a potential threat to economic stability, and as a result, the focus of fiscal policy is now shifting from stimulus to

Noise results from five carbon tax positions

In an Economic Briefing in The Australian Financial Review, Lowy Institute Visiting Fellow Stephen Grenville restates some simple basics of the carbon debate as a reminder of the implications of the various positions taken on the subject.Australian Financial Review, 28 March 2011, p. 23

Public lecture: Natural hazards, unnatural disasters: the economics of effective prevention - Apurva Sanghi

At a lecture at the Lowy Institute on 10 March, World Bank Senior Economist Apurva Sanghi discussed a thought-provoking report by the World Bank and the United Nations. 'Natural Hazards, UnNatural Disasters: The Economics of Effective Prevention' will change the way we look at disaster prevention

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