Welcome to the twelfth issue of Insights

Seemingly intractable rates of unemployment in, respectively, the US and Australia, are the focus of articles by Dale Mortensen and John Freebairn. Nobel Laureate Mortensen examines why US employment, post the GFC, is taking so long to recover. Freebairn – who spoke at a conference to mark the retirement of Ian McDonald, one of the Faculty’s most distinguished professors – queries the common assumption that Australia’s ‘natural’ rate of unemployment is now 5 per cent and cannot be reduced to the lower figures experienced in earlier decades.

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Inside the current issue, Volume 12 | November 2012

After the Great Recession: recovery or stagnation?
Dale T. Mortensen
Why has it taken so long for the levels of US business activity and employment to recover?

What is full employment today?
John Freebairn
Could Australia reduce unemployment to the 4 per cent level achieved in 2008, or even the less than 2 per cent level achieved in the 1950s and 1960s without causing breakout inflation?

The review of the Fair Work Act and its implications
Geoffrey Giudice
While employers and unions share much common ground, experience tells us that it is unlikely that the two sides will join together in the common pursuit of worthwhile economic and social goals.

The Great Recession and the distribution of household income
John Micklewright
What was the impact of the large shock of the Great Recession on the incomes of households?

China update: rebalancing and sustaining growth in Chinae
Ross Garnaut
Structural change in China is mostly in a direction that will reduce internal and external tensions and support more productive interaction with the global economy.

The world in transition
John Brumby
We ought to be struck by the simultaneous occurrence of four major global transitions – epidemiological, geopolitical, technological and environmental – and the challenges and opportunities they present.

Fraud in Australia
Colin Ferguson
Simple greed and the opportunity to live beyond one’s normal lifestyle are the primary motivations for fraud.

Fraud, ethics and corporate governance
Dean Newlan
There is a growing sense that some of those at the top of this country’s largest corporations sometimes engage in less than exemplary conduct.

Occasional Addresses

Learning and living go together
Margaret Jackson
The world will change and challenge you as an individual and cause you to draw upon all your resources – particularly the skills you have developed through your education.

The power of relationships – an anchor in uncertain times
Christian Bennett
No information technology can replicate the intimacy and trust implicit in a firm handshake or a kiss on the cheek.


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