Is There a Baby Bounce?

In this first ever guest post on The Stubborn Mule, Mark Lauer takes a careful look at the relationship between national development and fertility rates. Recently The Economist and the Washington Post reported a research paper in Nature on the relationship between development and fertility across a large number of countries.  The main conclusion of […]

The Muddle of Macroeconomics

I never formally studied any economics at school or university, but in the years since I have become increasingly interested in the subject. I am sure that is evident from many of the posts here on the Stubborn Mule. What I did study was mathematics and, although there can be internal debates within the subject […]

How Important Is China?

Today I attended a presentation by TD Securities global strategist Stephen Koukoulas. While exploring the “green shoots” of recovery, Koukoulas made an interesting observation about China. Many observers of the Australian economy, Reserve Bank governor Glenn Stevens included, place great weight on the importance of China for Australia’s economy. But Koukoulas pointed out that, while […]

Malcolm Turnbull’s Word Cloud

My last post looked at the favourite words of Australia’s prime minister, Kevin Rudd. In the interests of balance, I will now turn the word cloud lens onto the opposition leader, Malcolm Turnbull. Turnbull’s speeches are conveniently assembled online and the graphic below illustrates the frequency of his words from speeches made in 2009. Unlike […]

What is Kevin Saying?

Last week, Politico published an analysis of Barack Obama’s language. The words he used most often were “America”, “Health” and “Economy” (Politico included “American” in the count along with “America”). This prompts the obvious question: what are the favourite words of our own Kevin Rudd? Fortunately, the prime minster’s website publishes transcripts of all Kevin’s […]

Deleveraging and Australian Property Prices

A few weeks ago, I had a preliminary look at Australian property prices. That post focused on rental yields and argued that the fact that property prices have consisently outpaced inflation over the last 10-15 years can be associated with a steady decline in rental yields which has been matched by a decline in real […]