Ian McDonald

Can loss aversion shed light on the deflation puzzle?

Jenny N Lye, Ian M McDonald

Journal article  |  2021  |  Review of Keynesian Economics

This paper argues that the application of loss aversion to wage determination can explain the deflation puzzle: the failure of per..

The Economics of Ageing—What Do We Face?

Ian McDonald

Journal article  |  2020  |  Australian Economic Review

We, as taxpayers, face challenging problems in assisting the well‐being of old people mainly because preparing for and living thro..

Obituary for Joseph Ezra Isaac, AO FASSA: 1922–2019

Ian McDonald

Journal article  |  2020  |  Economic Record

Celebrated academic and public servant emeritus professor the Hon. Joseph Isaac died on 17 September 2019 at the age of 97. He was..

Macroeconomic Policy to Aid Recovery after Social Distancing for COVID‐19

Ian McDonald

Journal article  |  2020  |  Australian Economic Review

Using the Keynesian model set out in McDonald (2020), in which downward wage rigidity is supported by worker loss aversion with re..

The Economics of Ageing-What do you Face?

Ian M McDonald

Journal article  |  2019  |  Australian Economic Review

The economics of ageing is the study of economic decision‐making by individuals and government aimed at fostering well‐being in ol..

John Maynard Keynes, Joan Robinson and the prospect theory approach to money wage determination

Ian M McDonald

Journal article  |  2019  |  Metroeconomica: international review of economics

In the 1930s, John Maynard Keynes and Joan Robinson observed a flex–fix sequence of money wage adjustment, which is changes in agg..

Policy Forum: Economics and Populism Introduction

Ian M McDonald

Journal article  |  2018  |  Australian Economic Review

Editors' Report 2017

R Williams, I McDonald, C Ryan

Journal article  |  2018  |  Australian Economic Review

Editors’ Report 2016

R Williams, P Jensen, I McDonald

Journal article  |  2017  |  Australian Economic Review

‘We Will End Up Being a Third Rate Economy … A Banana Republic’: How Behavioural Economics Can Improve Macroeconomic Outcomes

IM McDonald

Journal article  |  2017  |  The Australian Economic Review

To address the economic problems facing Australia in 1986 required wage restraint, which required in turn overcoming loss aversion..