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Australia
			: Benefiting from Economic Reforms

Australia : Benefiting from Economic Reforms »

Series: Books

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 November 1998

DOI: http://dx.doi.org/10.5089/9781557757326.071

ISBN: 9781557757326

Keywords: inflation, unemployment, monetary policy, employment, current account deficit

Australia's recent economic performance has been impressive. It has experienced steady growth since the early 1990s and inflation has averaged just 2 percent over the same period. This strong showing marks a depart...

2 Australia’s Long-Term Economic Performance

2 Australia’s Long-Term Economic Performance »

Source: Australia : Benefiting from Economic Reforms

Series: Books

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 November 1998

ISBN: 9781557757326

Keywords: inflation, unemployment, monetary policy, employment, current account deficit

For much of the postwar era, Australia’s economic performance has been relatively disappointing. From the 1960s through the 1980s, per capita growth rates were significantly lower than those of other industr...

Front Matter

Front Matter »

Source: Australia : Benefiting from Economic Reforms

Series: Books

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 November 1998

ISBN: 9781557757326

Keywords: inflation, unemployment, monetary policy, employment, current account deficit

Australia's recent economic performance has been impressive. It has experienced steady growth since the early 1990s and inflation has averaged just 2 percent over the same period. This strong showing marks a depart...

5 Inflation and Monetary Policy Reform

5 Inflation and Monetary Policy Reform »

Source: Australia : Benefiting from Economic Reforms

Series: Books

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 November 1998

ISBN: 9781557757326

Keywords: inflation, unemployment, monetary policy, employment, current account deficit

A key feature of Australia’s economic performance in the 1970s and for most of the 1980s was relatively high inflation. In the 1970s, inflation rose more sharply than in other OECD countries and, in the 1980...

8 Medium-Term Outlook for Potential Growth

8 Medium-Term Outlook for Potential Growth »

Source: Australia : Benefiting from Economic Reforms

Series: Books

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 November 1998

ISBN: 9781557757326

Keywords: inflation, unemployment, monetary policy, employment, current account deficit

The comprehensive reforms initiated in the mid-1980s, and accelerated in the 1990s, are expected to bring significant gains to the Australian economy over the medium term. Empirical studies have estimated th...

4 National Saving

4 National Saving »

Source: Australia : Benefiting from Economic Reforms

Series: Books

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 November 1998

ISBN: 9781557757326

Keywords: inflation, unemployment, monetary policy, employment, current account deficit

National saving has declined sharply since the mid-1970s. About three-quarters of this decline can be attributed to the public sector, particularly the Commonwealth government (Table 4.1). Private saving has...

1 Overview

1 Overview »

Source: Australia : Benefiting from Economic Reforms

Series: Books

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 November 1998

ISBN: 9781557757326

Keywords: inflation, unemployment, monetary policy, employment, current account deficit

Australia’s economic performance has been impressive in recent years. Growth has been healthy, with real output climbing by more than 25 percent between the 1991 cyclical trough and the end of 1997. Moreover...

7 Product Market Reform

7 Product Market Reform »

Source: Australia : Benefiting from Economic Reforms

Series: Books

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 November 1998

ISBN: 9781557757326

Keywords: inflation, unemployment, monetary policy, employment, current account deficit

One of the most important reasons for Australia’s relatively poor productivity performance in the 1970s and 1980s discussed in Chapter 2 was the historical lack of openness of the economy, owing to high impo...

3 The Deterioration of the Current Account

3 The Deterioration of the Current Account »

Source: Australia : Benefiting from Economic Reforms

Series: Books

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 November 1998

ISBN: 9781557757326

Keywords: inflation, unemployment, monetary policy, employment, current account deficit

Australia has recorded current account deficits for most of the postwar period. From the 1950s through the 1970s, these deficits were relatively small and reflected a high level of investment associated with...

6 The Labor Market

6 The Labor Market »

Source: Australia : Benefiting from Economic Reforms

Series: Books

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 November 1998

ISBN: 9781557757326

Keywords: inflation, unemployment, monetary policy, employment, current account deficit

Policymakers are focused on the labor market because of unemployment, which has shown a strong upward trend since the mid-1970s, rising from a rate of about 2 percent to about 8 percent by the end of 1997. T...