This recession is not like any other in living memory. Phase one involved a massive supply shock, phase two will involve dealing with a collapse in demand.
There is a case to be made for a new Commonwealth agency to lead the recovery effort, built on the model of the Department of Post-War Reconstruction after the second world war.
JW Neville Fellow in Economics Tim Harcourt advises that Australia can use higher education and digital learning to skill up the workforce and build greater capacity in the economy.
So far, Australia’s help for people displaced, self-isolating or ill has been far from generous.
The COVID-19 emergency has the potential to trigger the collapse of some airlines in Australia. But with its high ‘public good’ value, a future without Qantas is one we cannot afford, says Tim Harcourt.
An Australian recession is likely to be part of a global slump, with some workers especially vulnerable, says a UNSW Economics expert.
Investment incentives might not be enough. We'll need public investment and forced increases in wages.
The progress the Australian economy was making has been slowed or reversed, at exactly the wrong time.
There are three things to watch as we wonder whether a recession is imminent, says UNSW Business School's Elvira Sojli.
Australia has two options to keep out of recession, neither of them easy. The government will have to abandon its determination to get the budget into surplus.