Year 12 Economics - 2013
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RESERVE BANK OF AUSTRALIA : Statement by Glenn Stevens, Governor ... - 4-traders (press release)

RESERVE BANK OF AUSTRALIA : Statement by Glenn Stevens, Governor ... - 4-traders (press release) | Year 12 Economics - 2013 | Scoop.it
RESERVE BANK OF AUSTRALIA : Statement by Glenn Stevens, Governor ...
4-traders (press release)
At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.
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Predictable result but the resaoning within the statement is worth reading.

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Economy to dominate election campaign as Reserve Bank tipped to cut interest rates to record low 2.5 per cent - ABC News (Australian Broadcasting Corporation)

Economy to dominate election campaign as Reserve Bank tipped to cut interest rates to record low 2.5 per cent - ABC News (Australian Broadcasting Corporation) | Year 12 Economics - 2013 | Scoop.it
The economy is set to dominate day two of the federal election campaign, with the Reserve Bank tipped to cut interest rates to a historic low this afternoon.
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Politicians are powerless over Australia's economy - The Drum (Australian Broadcasting Corporation)

Politicians are powerless over Australia's economy - The Drum (Australian Broadcasting Corporation) | Year 12 Economics - 2013 | Scoop.it
Australia is a very small country with a very open economy. These facts are sometimes easy to forget.
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Australia Core Inflation Accelerates as Currency Restraint Wanes - Bloomberg

Australia Core Inflation Accelerates as Currency Restraint Wanes - Bloomberg | Year 12 Economics - 2013 | Scoop.it
AFP Australia Core Inflation Accelerates as Currency Restraint Wanes Bloomberg Australia's core consumer price growth accelerated last quarter and the cost of imported goods increased as the inflation-restraining influence of an elevated currency...
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Australian inflation outlook – plenty of scope for a needed fiscal boost

Australian inflation outlook – plenty of scope for a needed fiscal boost | Year 12 Economics - 2013 | Scoop.it
The Fairfax (Melbourne Age) article (July 24, 2013) – SLow inflation keeps door open for rate cut – emphasised the monetary policy implications of the results, as did the The ABC News article July 24, 2013) – Inflation ...
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Dispelling dollar gloom on the inflation horizon

Dispelling dollar gloom on the inflation horizon | Year 12 Economics - 2013 | Scoop.it
Fears the falling Australian dollar will automatically lead to a spike in inflation are misguided – the relationship between our currency and consumer prices is more complex than this.
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A pretty good article for Term 3 if any of my Year 12 class are following this feed...

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China's banks - The Economist

China's banks - The Economist | Year 12 Economics - 2013 | Scoop.it
China's banks
The Economist
DURING last month's cash crunch, China's banks struggled desperately to work out what the country's central bank was thinking.
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Economics make this election a good one to win - The Drum (Australian Broadcasting Corporation)

Economics make this election a good one to win - The Drum (Australian Broadcasting Corporation) | Year 12 Economics - 2013 | Scoop.it
The incoming Australian Government will inherit the best economic conditions for a generation: the lowest ever interest rates, a falling exchange rate and a recovering global economy, led by the United States.
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Can Kevin the Lemon pull it out of the bag???

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Markets Live: Strongest day in 18 months - Sydney Morning Herald

Markets Live: Strongest day in 18 months - Sydney Morning Herald | Year 12 Economics - 2013 | Scoop.it
Markets Live: Strongest day in 18 months Sydney Morning Herald Inflation has been consistent with the medium-term target and is expected to remain so over the next one to two years, notwithstanding the effects of the recent depreciation of the...
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The Death of Economics - The Weekly Standard

The Death of Economics - The Weekly Standard | Year 12 Economics - 2013 | Scoop.it
The Weekly Standard
The Death of Economics
The Weekly Standard
For decades, hubris has been the common currency of the economic policy world. It is killing the economics profession.
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China Facing Cash Squeeze as Rising Rates Crimp Lending - New York Times (blog)

China Facing Cash Squeeze as Rising Rates Crimp Lending - New York Times (blog) | Year 12 Economics - 2013 | Scoop.it
New York Times (blog) China Facing Cash Squeeze as Rising Rates Crimp Lending New York Times (blog) A huge shadow banking operation has emerged in China in recent years, with smaller banks and trust companies borrowing from bigger state-run banks...
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Public Debt and Economic Growth

Public Debt and Economic Growth | Year 12 Economics - 2013 | Scoop.it
Reinhart and Rogoff seem to be correct in one basic respect: Economic growth does seem to be lower in very-high-debt countries. But the entire debate over their paper's flaws begs the central question of cause and effect.

Via SustainOurEarth
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Open Knowledge Index | Open Economics

Open Knowledge Index | Open Economics | Year 12 Economics - 2013 | Scoop.it

The Open Knowledge Index has been designed to measure and track progress in opening up information, data and knowledge in a broader sense to the public. The Open Knowledge Index captures three dimensions of knowledge – the ability to access knowledge (capability), the availability of knowledge and data provision (legislation) and the capacity to use the data and feed it back into the open data eco-system (open society).

 

Currently, the sample consists of a cross-section of 38 countries in 2009-2010, comprising OECD and the BRIC countries. We plan to gradually increase the sample in the future.


Via Irina Radchenko
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Fàtima Galan's curator insight, May 28, 2013 4:57 AM

Great analysis of all the variables that have to be involved on the OpenData Paradigm:  The Open Knowledge Index captures three dimensions of knowledge – the ability to access knowledge (capability), the availability of knowledge and data provision (legislation) and the capacity to use the data and feed it back into the open data eco-system (open society).

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China's Urban Billion: Sprawling Cities and Fiscal Policy

China's Urban Billion: Sprawling Cities and Fiscal Policy | Year 12 Economics - 2013 | Scoop.it
China is home to some of the densest cities in the world, but its newly developed urban areas are experiencing rapid geographic expansion. Urban sprawl is a serious issue, with many reasons behind the phenomenon – a ...
Joshua Toth's insight:

A good article for our Globalisation topic (Yr12)

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RBA Stevens: Scope For Cut Remains Even Post Q2 Inflation Data - MNI News

RBA Stevens: Scope For Cut Remains Even Post Q2 Inflation Data MNI News SYDNEY (MNI) - Reserve Bank of Australia Governor Glenn Stevens said Tuesday the scope for further monetary easing remains even after tame second quarter inflation data and...
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Australia's absurd interest rates debate - The Drum (Australian Broadcasting Corporation)

Australia's absurd interest rates debate - The Drum (Australian Broadcasting Corporation) | Year 12 Economics - 2013 | Scoop.it
The lower is always better line on interest rates which sits under every economic statement in Australia ignores the fact that monetary policy is reaching a historic point.
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Australia Currency Fall Has Impact on Inflation - Wall Street Journal

Australia Currency Fall Has Impact on Inflation - Wall Street Journal | Year 12 Economics - 2013 | Scoop.it
Wall Street Journal Australia Currency Fall Has Impact on Inflation Wall Street Journal "A new medium-term threat to inflation on the upside may emanate from the sharp slide in the Aussie since mid-April," said Michael Workman, a senior economist...
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China's Savers Block the Consumer Economy

China's Savers Block the Consumer Economy | Year 12 Economics - 2013 | Scoop.it
Breaking the Chinese of a bad habit: frugality (The Trouble With Chinese Frugality - Bloomberg Businessweek+ #china #economics http://t.co/KNmFiC3IAY)...
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Australia's economic success should not be obscured by leadership politics - The Guardian

Australia's economic success should not be obscured by leadership politics - The Guardian | Year 12 Economics - 2013 | Scoop.it
The Guardian Australia's economic success should not be obscured by leadership politics The Guardian Yet despite all this carnage, it is also clear to an unbiased observer that Australia under Kevin Rudd, Wayne Swan, and Julia Gillard avoided the...
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Interesting to hear a UK perspective about our "reasonable economic management".

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Flash: Australia TDS inflation gives RBA further room to cut - NAB - FXstreet.com

Flash: Australia TDS inflation gives RBA further room to cut - NAB - FXstreet.com | Year 12 Economics - 2013 | Scoop.it
Flash: Australia TDS inflation gives RBA further room to cut - NAB FXstreet.com FXstreet.com (Barcelona) - Today's TDS inflation series in Australia displayed soft levels of price pressures, with the reading flat in June, up 2.4% on a yearly basis,...
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Reserve Bank of Australia : Statement by Glenn Stevens, Governor: Monetary ... - 4-traders (press release)

Reserve Bank of Australia : Statement by Glenn Stevens, Governor: Monetary ... - 4-traders (press release) | Year 12 Economics - 2013 | Scoop.it
Reserve Bank of Australia : Statement by Glenn Stevens, Governor: Monetary ...
Joshua Toth's insight:

Inflation remains stable. The AUD is doing the "right thing" for our exporters and import-competing firms. Bottom line: the cash rate will probably not move for some months.

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Secondary Sources: Why US Inflation Is So Low & China's “Likonomics” - Wall Street Journal (blog)

Secondary Sources: Why US Inflation Is So Low & China's “Likonomics” - Wall Street Journal (blog) | Year 12 Economics - 2013 | Scoop.it
Financial News
Secondary Sources: Why US Inflation Is So Low & China's “Likonomics”
Wall Street Journal (blog)
-Why US Inflation Is So Low: Martin Feldstein helps explain why price pressures are so low in the U.S.
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The end of print-money-and-pray economics? - Telegraph.co.uk (blog)

The end of print-money-and-pray economics? - Telegraph.co.uk (blog) | Year 12 Economics - 2013 | Scoop.it
The end of print-money-and-pray economics?
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Fed Shakes Up Global Markets as US Interest Rates Rise - CNBC.com

Fed Shakes Up Global Markets as US Interest Rates Rise - CNBC.com | Year 12 Economics - 2013 | Scoop.it
Fed Shakes Up Global Markets as US Interest Rates Rise
CNBC.com
"I do think this is the beginning of a long-term trend in rising rates," said Ward McCarthy, Jefferies chief financial economist.
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China’s first quarter economic growth slows amid concern about strength of recovery | Wash Post

China’s first quarter economic growth slows amid concern about strength of recovery | Wash Post | Year 12 Economics - 2013 | Scoop.it

 

China’s economic growth slowed unexpectedly in the first three months of the year, fueling concern about the strength of its shaky recovery.

 

The world’s second-largest economy grew by 7.7 percent over a year earlier, down from the previous quarter’s 7.9 percent, the government reported Monday. That fell short of many private sector forecasts that growth would accelerate slightly to 8 percent.

 

A recovery still is under way but is “really very soft — very slow and gradual,” said Societe Generale economist Wei Yao.

 

Analysts have warned that China’s recovery from its deepest slump since the 2008 global crisis is weak and is being supported by bank lending and government-led investment, while growth in consumer spending is subdued. A slowdown in Chinese growth and demand for goods ranging from iron ore to factory technology and consumer goods could send out ripples in the global economy.

 

The unexpected growth setback could add to challenges for Communist Party leaders who took power over the past six months. They are trying to avoid job losses while they pursue more self-sustaining growth based on domestic consumption instead of exports and investment.

 

Last year’s slowdown was largely due to Beijing’s efforts to cool inflation and steer double-digit growth to a more sustainable level following a quick, stimulus-fueled rebound from the global crisis. Beijing responded with further stimulus efforts including looser credit but analysts say Chinese leaders are unlikely to repeat that strategy, which led to a sharp rise in debt.

 

The latest quarterly growth was above Beijing’s official target of 7.5 percent for the year. That is well above forecasts in the low single digits for Western economies and Japan but far from China’s blistering growth of the past decade.


Via Chuck Sherwood, Senior Associate, TeleDimensions, Inc
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