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Due to the unknown future economic situation of students, private banks are unwilling to provide student loans in the absence of collateral. This market failure requires government intervention to prevent socially sub-optimal and regressive outcomes. Income contingent loans, whose repayment...
Education and immigration are examined and affirmed as drivers of sustainable productivity growth. In education, individuals see continuing benefits to educational investment, a view supported by individual rates of return from education. Private sector expenditure on education has increased...
In Australia in 1989, for the first time in the world, a broadly-based income contingent loan policy for the payment of higher education charges was adopted, when the government introduced the Higher Education Contribution Scheme (HECS). This can be seen to be a watershed in terms of the...
Australia’s National Drought Policy is considered to be one of the most advanced in the world, recognising as it does the reality of climate and focusing on adapting farm management to climatic uncertainty rather than simply subsidising agriculture in low rainfall areas. But while the...
Once again in 2002 Australian taxpayers are being called on to provide relief to drought-affected farmers. Under the National Drought Policy which has been in place since 1992, support is provided by the Commonwealth Government predominantly in two forms: interest rate subsidies to assist farm...
This paper analyses the incidence and impact of unemployment among young Australians. It is argued that the scale and seriousness of the current youth problem are often overstated. There is no evidence that the aggregate unemployment experience of young Australians has changed over the last two...
The relative costs of taking employment or receiving welfare are usually understood through comparisons of a person’s social security entitlements and their wage alternative, known as replacement rates. In some situations it appears that the additional income from working is negligible, and...