Charles Bean

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    Demographic changes may help explain persistently low interest rates

Demographic changes may help explain persistently low interest rates

The past two decades have witnessed an extraordinary decline in both short- and long-term interest rates in the leading advanced economies, from levels of around 4-6 per cent in the 1990s to close to zero today. Although recent falls came after the Global Crisis and subsequent recession, the decline in yields, particularly for longer-term rates, began much earlier.

It may […]

It’s time to rethink the way we measure economic activity

The modern economy is a complex entity, subject to a continual process of change and development. The challenge is to ensure that economic statistics — and the methodologies used to construct them — evolve so as to capture these changes such that they remain relevant, accurate, and timely.

The national accounts provide the basic framework for monitoring the evolution of […]