Derek Chong, Sinclair Davidson and Tim Fry go in hard against compulsory voting in a paper for the Centre for Independent Studies’ Policy journal, entitled "It’s an evil thing to oblige people to vote". Good economists all, the authors characterise compulsory voting as "a wealth transfer from those individuals who would not vote, and from the Australian Electoral Commission, which expends substantial sums of money tracking down individuals in order to enrol them to vote, to political parties". They also cite various legal precedents to muddy the waters for pedants who argue that Australia has "compulsory attendance at a polling booth" rather than "compulsory voting". In partisan terms, the study concludes that compulsion is bad for the Coalition, broadly neutral for Labor (except insofar as what’s good for the Coalition is bad for Labor), good for the Greens and independents and a disaster for the Australian Democrats.
Tip of the hat here to Andrew Leigh at Imagining Australia.