Argument

Table of Contents

The Global Credit Crisis: Why Have Australian Banks Been So Remarkably Resilient?

Abstract

Introduction

Performance of Australian banks during the current crisis

No bailouts of Australian banks

No US and UK-style liquidity emergency

Australian banks have avoided abnormal loan write-downs

Share prices of Australian banks comparatively resilient

Australian banks have not been downgraded

Explaining the contrasting experience

A culture of intermediation, not securitisation

Australian banks are highly capitalised

A diversified and stable funding base

Healthy profitability

Sound corporate governance

Effective financial system regulation

Separation of commercial banking from social assistance measures

Conclusions

References

Fiddling With the Digital TV Tuner: Recent Adjustments to a Poor Policy

Abstract

Introduction

Digital television policy

Adjusting the original plan

How many homes have digital TV?

Prospects for a 2013 switchover

Are recent policy changes sufficient?

Conclusion

References