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RBA aims to cut policy stimulation by adding to it

It’s Wednesday, and we have some analysis and news and then my music segment for the week. Yesterday, the Reserve Bank of Australia (RBA) stunned the nation by pushing up interest rates by 0.5 points, claiming it was the responsible thing to do given that inflation was higher than expected. They then outlined all the factors driving inflation – none of which are going to be responsive to interest rate rises. Further, when one dissects the way in which interest rate rises work through distributional effects and effects on business costs, it is not clear that increasing rates will not just add to the stimulation rather than reduce it as the RBA claims. Next, we Fact Check the Fact Checkers and after all of that we have some Tupelo Blues, to restore some sense of decorum.

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Back to school for me …

For the foreseeable future I am spending the time I would normally use to write a blog post each Tuesday, studying the Japanese language. I will be taking up a position to work in Kyoto from October this year for…

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My blog is on holiday today

Today is a public holiday (ANZAC Day) where we remember the efforts of our past generations who fought in wars. I am not very enamoured by the hype that surrounds these days – commercialisation reigns and the black/white nature of the narrative (we were good they were evil) obscures the reality of war and the political machinations that typically accompany it. In Australia’s case our involvement in several wars has been the product of unnecessary colonial master-servant type arrangements (us being the servant) and/or ridiculous alliances with the war mongering US. But the soldiers certainly did it tough and I have sympathy with that – and personal association with my grandparents and parents. But, on a pragmatic basis, my blog is taking the day off so I can use the time to finish some work that has impending deadlines. We can listen to jazz today and wonder about whether humans will ever learn that war like is being prosecuted in Ukraine at present is never a reasonable way to conduct our affairs and mediate our disagreements.

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My blog is on holidays today

It’s a holiday today and while I don’t always recognise these public events, I am today. So my blog is on holidays although I am actually just taking the chance to finish some projects off that have to be finished quick smart. But there is a music feature to listen to while wondering what I will write tomorrow (-:

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Research on vaccine certificates finds positive outcomes

It’s Wednesday and so some short discussion and news then some jazz, the latter being the highlight. I read an interesting research paper yesterday from the – Conseil d’Analyse Économique (CAE) – which is an French-based organisation that brings together professional researchers “to enlighten the government’s choices in economic matters by comparing points of view and analyses”. It operates under the authority of the French Prime Minister. Its latest public report under its – Focus – series – The effect of COVID certificates on vaccine uptake, health outcomes, and the economy (published January 18, 2022) – presents some very interesting empirical results pertaining to the impact that the enforcement of Covid vaccination certificates has had on the rate of vaccination uptake, on health outcomes (short-term) and on GDP growth rates. I consider the research (methods etc) to be credible and the results are in accord with an array of evidence that other researchers are coming up with.

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