The Economy, Stupid

Inflation is on the rise, driven by supply shocks. Does the Reserve Bank of Australia need to do something about it? Sean Langcake, head of macroeconomic forecasting at BIS Oxford Economics explains.

Insurance premiums are increasing with the frequency of climate induced natural disasters. The government is planning a reinsurance pool of $10 billion in the hope of making premiums cheaper. But this may not work as Antonia Settle from the Melbourne Institute of Applied Economics and Social Research explains.

This week as severe flooding causes havoc in south east Queensland and parts of NSW, two important, relevant reports were released. One by the Insurance Council of Australia outlining what the Federal and State Governments need to invest to protect against the cost of increasing climate disasters and one by the Intergovernmental Panel on Climate Change with a very grim outlook for Australia if emissions aren't cut dramatically. Nicki Hutley, independent economist and Economist with the Climate Council untangles the numbers and considers what we're facing with these current floods.

Does extending parental leave entitlements present a greater cost to the Australian economy or a benefit? The answer from economists and gender equality groups seem to agree, it is beneficial for all. Both socially and economically. These benefits extend to unpaid work at home. This does make sense when you listen to economist Jessica Mizrahi, Director at Accenture Australia and Vice President of the Economic Society of NSW and Mary Wooldridge, Director of the Workplace Gender Equality Agency. We also hear from Hugh Sinclair, a senior finance manager with property group Stockland, who took his full parental leave entitlement when his second child was born. He compares the experience and the benefits from when he took two weeks leave and twenty weeks leave.

It has been a bumpy few years with the pandemic and businesses have had to make huge adjustments. So how are they feeling about the future? Jeremy Thorpe, chief economist of PwC Australia shares the results of their annual survey of CEOs and explains why cybersecurity is the number one risk, as well as why businesses are focussing on the US and New Zealand.

Economist Jim Stanford argues supply and demand will not increase wages. What is needed is the political will and policies to lift wages, structures and institutions and an expanding public sector.

How globalisation has altered the effectiveness of economic sanctions.

What needs to be done to improve the care in aged care.

Predictions and expectations abound from the Reserve Bank of Australia chief's speech this week.