The Department of Treasury and Finance (DTF) has released the fifth volume of its economic bulletin, a snapshot of DTF staff research undertaken to improve the Department’s understanding of the Victorian economy.
Secretary of DTF, David Martine said that by publishing a selection of its work through the Victoria’s Economic Bulletin: Volume 5, the Department hoped to contribute to the broader public policy debate on important economic issues.
“This fifth volume of Victoria’s Economic Bulletin canvasses issues that are especially important at this time of change and heightened economic uncertainty,” Mr Martine said.
“In responding to the coronavirus (COVID-19) pandemic we have strengthened our understanding of issues like the Victorian labour market and the economic effects of our taxation system,” he said.
“This has enabled a more nuanced approach to advising Government on policies to support our economic recovery and assist Victorian businesses and households through the pandemic.”
Mr Martine said the events of the past year underlined the importance of timely and accurate information on the state of the economy, and the first article in DTF’s Bulletin examined techniques for producing higher frequency estimates of gross State product.
The Secretary said the second article in the Bulletin illustrated a methodology for understanding the underlying compositional drivers of changes in the unemployment rate, and the third article analysed the effect of recent reductions in Victoria’s regional unemployment rate.
Mr Martine said the final Bulletin article considered the economic impact of the 2019-20 Victorian bushfires.
“I hope these articles provide some insight into the contribution that our research makes to better public policy,” he said.
DTF’s fifth Economic Bulletin can be viewed online at this PS News link.
