What’s new on the Treasury website

The Treasury’s website, www.treasury.gov.au, includes past issues of the Economic Roundup. Some of the other items posted on the website since the previous issue of Roundup that may be of interest to readers are listed in the following section.

Working Papers
Reconsidering the link between fiscal policy and interest rates in Australia
Yong Hong Yan and Shane Brittle
http://www.treasury.gov.au/contentitem.asp?NavId=049&ContentID=1869
This paper examines the empirical relationship between government debt and the real interest margin between Australian and US 10‑year government bond yields. Results for the period 1990 to 2009 suggest that Australian general government net debt has no impact on the short run real interest margin, and has only a small effect in the long run. Further, the estimates suggest that movements in US general government net debt have a considerably larger effect than Australian general government net debt — implying that US influences take greater prominence in explaining the real interest margin.
Monetary and exchange rate policy issues in Pacific island countries
Richard Wood
http://www.treasury.gov.au/contentitem.asp?NavId=049&ContentID=1871
This paper reviews the recent application of monetary and exchange rate policies for Papua New Guinea, Fiji, the Solomon Islands, Samoa, Tonga and Vanuatu.  This paper concludes that greater downward exchange rate flexibility could have avoided a loss of competitiveness and currency overvaluation which would have worked to protect exports.
Publications
Pre‑Election Economic and Fiscal Outlook 2010
http://www.treasury.gov.au/contentitem.asp?NavId=035&ContentID=1858
The purpose of the Pre-Election Economic and Fiscal Outlook report (PEFO) is to provide updated information on the economic and fiscal outlook.

The information in the report takes into account, to the fullest extent possible, all Government decisions made before the issue of the writs and all other circumstances that may have a material effect on the fiscal and economic outlook. 
Parliamentary progress of tax bills
http://www.treasury.gov.au/contentitem.asp?NavId=006&ContentID=974
This document outlines the progress of Bills being considered by Parliament.
Speeches
Macroeconomic policy challenges: Dilemmas for the new Australian Government
http://www.treasury.gov.au/contentitem.asp?NavId=008&ContentID=1867 
This address, entitled ‘Macroeconomic policy challenges: Dilemmas for the new Australian Government’, was delivered by Dr Ken Henry, Secretary to the Treasury, to the Melbourne Institute of Public Economics on Tuesday 14 September 2010.
Measuring what we do or doing what we measure: Challenges for Australia
http://www.treasury.gov.au/contentitem.asp?NavId=008&ContentID=1868 
This address, entitled ‘Measuring what we do or doing what we measure: Challenges for Australia’, was delivered by Dr Ken Henry, Secretary to the Treasury, to the National Statistics Conference 2010 on Thursday 16 September 2010.
Measuring progress: From theory to practice
http://www.treasury.gov.au/contentitem.asp?NavId=008&ContentID=1872
This address, entitled ‘Measuring progress: From theory to practice’, was delivered by Dr David Gruen, Executive Director (Domestic), Macroeconomic Group, to the National Statistics Conference 2010 on Thursday 16 September 2010.