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I’ve been in Sydney most of this week attending the Australia’s Future Tax System – A Post-Henry Tax Review. It had some excellent speakers and was for me – not a taxation specialist – very informative. I particularly liked John Freebairn’s overview and a superb paper by Ben Smith which clarified my views on the resource [...] George Fane makes more sense than the group of 21 economist on the RSPT. I summarise. (1800) [...] This Aussi-sourced YouTube on the European debt crisis was hilariously scary. It has been doing the rounds but I picked it up on Greg Mankiw’s blog. (114) The statement by economists supporting the RSPT resource rent tax is curious in its intent. It supports taxing profits rather than the existing production-based royalties as most economists would. But its other contentions that the mining industry will not ‘contract’ conflict with this view. The claim that depletable resources are ‘different’ to other industries suggests [...] Maybe there are legitimate reasons for this but I don’t know what they are. The Building the Education Revolution scheme splashed out $832,000 on a spartan looking school dunny in the drought-declared Bega Valley on NSW’s south coast – comparable blocks were built in Queensland for $25,000. The package included a small shed and a short [...] Ken Henry argues that introducing a super-profits tax and cutting royalty charges will increase investment in Australian mining because while firms are developing their mines and earning profits they will be less penalised in terms of reduced royalties and given additional exploration incentives – and they will only lose a fraction of their super-profits if they [...] I often get uneasy about some of the basic things I do when teaching microeconomics. One area that does concern is the basic issue of consumer choice. How deep should one dig? This is related to the optimal degree of mathematising microeconomics in this specific area. In simple terms you can analyse a consumer’s problem as [...] This excellent site collects them. I have a hell-of- a-lotta reading to do! I’ll add comments to the links below as I do. Recent items: Energy-Efficiency Program Evaluations: Opportunities for Learning and Inputs to Incentive Mechanisms Optimal Emission Pricing in the Presence of International Spillovers: Decomposing Leakage and Terms-of-Trade Motives Greenhouse Gas Regulation under the [...] I am planning an editorial in the journal I edit that encourages more public sector participation in published, public economic discussions. I’d appreciate comments on the draft below. As the Editor of Economic Papers: A Journal of Applied Economics and Applications I actively seek quality applied economics papers, particularly those with a policy orientation, that address [...] Spring has arrived in Beijing though the lakes are covered with a thin layer of grey ice and it is cold (2-4oC) with icy winds when you wander anywhere that has some open space. Pollution-smudged snow drifts are everywhere. Black-tailed magpies (so-called ‘happy birds’) are raucously setting up to breed in massive nests in the [...] I am not a keen supporter of numerical modelling of economic phenomena. I have seldom seen key issues of controversy in economics resolved by numerical modelling and think that, as a policy tool, numerical modelling does not improve on sensible thinking through of the issues using low order non-numerical and even purely conceptual models. It is [...] I provided these remarks at the 54th Annual Conference of AARES (Australian Agricultural and Resource Economics Society) that I am now attending in Adelaide. It is in the main a simple argument for using adaptive management techniques for managing highly uncertain and complex environmental systems. Very provisional. Revised, comments welcome. (445) [...] Having studied and taught economics for just over 40 years I have no doubts as to who in my mind was the most influential and the greatest economist of the twentieth century and that was Paul Samuelson. I learnt this morning that Paul Samuelson has just died at age 94. (107) [...] I am attending the PhD Conference in Business and Economics at the University of Western Australia in Perth. This runs over 3 days and gives those about to finish their doctoral presentations the chance to present their work in a formal conference setting and to see the work of others. There are 35 presentations in [...] RFK said this in 1968. In a speech I heard today it was quoted and it stirred me. “We will find neither national purpose nor personal satisfaction in a mere continuation of economic progress, in an endless amassing of worldly goods. We cannot measure national spirit by the Dow Jones Average, nor national achievement by [...] I was not surprised that Oliver Williamson won the Nobel Gong in economics though I had never heard about the other prize winner Elinor Ostrom. (90) [...] I gave a presentation on this topic to the Economic Society of Australia, Victorian Branch last year. Here are the Powerpoints. (126) I am sure that Paul Krugman’s ‘How did economists get it so wrong?’ will get much attention in the blogosphere. Worth a read although I don’t believe that policy-makers were as naive as he suggests. They lacked knowledge and always will. A good read for economic students along with the earlier counter-counter-revolutionary work of Robert Lucas. [...] I will be speaking in Melbourne on Transport Taxes and Congestion Pricing at the Transport Economics Forum at 5 PM Thursday 27 August – Reserve Bank Function Room. (1586) [...] The paper I co-wrote with Dr. David Prentice on “A Conceptual Framework for the Reform of Taxes Related to Roads and Transport” for Australia’s Future Tax System Review was released today. Comments are welcome. (165) [...] |
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