The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Saturday, September 18, 2010

There is more 'structural change' taking place in our economy since the 60s

So the RBA tells us in another excellent Bulletin article that has just been published. The paper looks at the magnitude and drivers of structural change in our economy over the last 50 years and was prepared by Ellis Connolly and Christine Lewis. Well worth a read.

Check out Graph 7, which shows the very interesting "structural change indices." (I will try and paste them in below when I get a chance.) According to this measure, structural change across Australia's states is at its highest level since the analysis began 50 years ago.