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Author's Name: Guay Lim
Date: Thu 07 May 2020

Guay Lim

Professor Guay Lim

Guay Lim is a Professorial Research Fellow at the Melbourne Institute: Applied Economics and Social Research and an Adjunct Professor at the Department of Economics, University of Melbourne. Her research interest is in the application of macroeconomic forecasting and policy models to obtain insights about macroeconomic issues particularly around inclusive growth and business cycle stabilisation. Her papers have been published in major international journals like the Journal of International Economics, Journal of Economic Dynamics and Control, Journal of Banking and Finance, Journal of Business and Economic Statistics, Journal of Applied Econometrics. She is a member of the CAMA Shadow Board and the Advisory Board of the Australasian Macroeconomics Society. She has been a Visiting Research Fellow at the International Monetary Fund and the European Central Bank. Guay is the head of the Macroeconomics Program at the Melbourne Institute responsible for the production of various indicators of activity about the Australian economy.

Subject Area Expertise

Macroeconomics,  Small Open Economies, Macro-econometrics.

Website

Company website: https://www.melbourneeconomicforum.com.au/panelists/guay-lim


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Responses (2)


Wage freeze for economic recovery

Poll 39

"A freeze in the minimum wage will support Australia's economic recovery"

Photo credit: Wes Mountain/The ConversationCC BY-ND 

 

Agree

8

A wages' pause (especially in an environment of low price inflation) would contain labour costs, allow businesses to save/create jobs, encourage employment and support the process of economic recovery. While a freeze in the minimum wage will likely disadvantage low income earners, it can be mitigated by other direct fiscal supports.


Social Distancing Measures, May 2020

Poll 38

"The benefits to Australian society of maintaining social distancing measures sufficient to keep R<1 for COVID-19 are likely to exceed the costs"

 

Uncertain

8

Whether the benefits are likely to exceed the costs is uncertain as we are talking about concepts that are hard to measure/quantify. Are direct fiscal payments costs and/or benefits? The evaluation will also depend on how long social distancing measures will be in place, the severity/strictness of the measures as well as the nature of financial and non-financial supports. The prevalence of testing and contact tracing will also be important to the analysis.


Wage freeze for economic recovery

Poll 39

"A freeze in the minimum wage will support Australia's economic recovery"

Photo credit: Wes Mountain/The ConversationCC BY-ND 

 

Agree

8

A wages' pause (especially in an environment of low price inflation) would contain labour costs, allow businesses to save/create jobs, encourage employment and support the process of economic recovery. While a freeze in the minimum wage will likely disadvantage low income earners, it can be mitigated by other direct fiscal supports.


Social Distancing Measures, May 2020

Poll 38

"The benefits to Australian society of maintaining social distancing measures sufficient to keep R<1 for COVID-19 are likely to exceed the costs"

 

Uncertain

8

Whether the benefits are likely to exceed the costs is uncertain as we are talking about concepts that are hard to measure/quantify. Are direct fiscal payments costs and/or benefits? The evaluation will also depend on how long social distancing measures will be in place, the severity/strictness of the measures as well as the nature of financial and non-financial supports. The prevalence of testing and contact tracing will also be important to the analysis.