Melbourne Institute News March 2008 ISSN 1442-9500 (print)
ISSN 1442-9519 (online)
Print Post Approved PP381667/01204
Issue 19
Economic and Social Outlook Conference The Melbourne Institute and The Australian are hosting New Agenda for Prosperity, the fifth in the series of Economic and Social Outlook Conferences, on 27 and 28 March 2008 at the University of Melbourne. 2008 Economic and Social Outlook Conference
Consumer Sentiment, GDP and Consumption How well does the Westpac â Melbourne Institute Consumer Sentiment Index and its components forecast Australian GDP and consumption? Page 3
Melbourne Institute Monthly Bulletin of Economic Trends A new monthly report, Melbourne Institute Monthly Bulletin of Economic Trends, provides forecasts of the state of the Australian economy. Page 5
A Multidisciplinary View of Obesity This article provides the key messages from the March Policy Forum of the Australian Economic Review. Page 6
Australia has experienced a remarkable period of economic prosperity over the past decade or so, fuelled partly by sustained, generally strong growth in our trading partners in the developing world and a trend improvement in our terms of trade not seen in over one hundred years. Real income per capita has risen. Unemployment is at a multi-decade low. However the supply side of the economy is now stretched tight. Inflation has begun to rise. And the government has placed a number of new, dramatic policy challenges squarely before us, including whether the benefits of Australiaâs economic progress have been shared fairly; how to save the planet from climate change without imperilling our childrenâs prosperity; and how to redress indigenous disadvantage to give practical expression to the apology the new Parliament delivered as its first order of business. New Agenda for Prosperity will bring together over 70 prominent Australians to speak in more than 20 separate sessions about these and a range of other pressing issues, including health, education, housing, infrastructure, broadband, tax reform, deregulation and innovation. A particular feature will be several sessions devoted to examining the policy challenges we face if the China-led boom continues, including: how do we keep inflation under control without triggering recession? what economic reforms are necessary to improve the flexibility of our economy and its capacity to respond to economic shocks, raise productivity and sustain the growth of living standards? what should we do next in welfare reform? and how do we boost the labour supply equitably so we can sustain a higher economic growth rate into the future? Contâd on page 2
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