Commodity Price Shocks and the Australian Economy since Federation

Sambit Bhattacharyya and Jeffrey Williamson ()

No 14694, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Even though Australia has experienced frequent and large commodity export price shocks like the Third World, it seems to have dealt with the volatility better. Why? This paper explores Australian terms of trade volatility since 1901. It identifies two major price shock episodes before the recent mining-led boom and bust. It assesses their relative magnitude, their de-industrialization and distributional impact, and policy responses. In what way has Australia been different from other commodity exporters experiencing volatile prices?

JEL-codes: F14 F43 N17 O56 (search for similar items in EconPapers)
Date: 2009-01
New Economics Papers: this item is included in nep-opm
Note: DAE
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Citations: View citations in EconPapers (9)

Published as Sambit Bhattacharyya & Jeffrey G. Williamson, 2011. "Commodity Price Shocks And The Australian Economy Since Federation," Australian Economic History Review, Wiley Blackwell Asia Pty Ltd and the Economic History Society of Australia and New Zealand, vol. 51(2), pages 150-177, 07.

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Related works:
Journal Article: COMMODITY PRICE SHOCKS AND THE AUSTRALIAN ECONOMY SINCE FEDERATION (2011)
Working Paper: Commodity Price Shocks and the Australian Economy since Federation (2010)
Working Paper: Commodity Price Shocks and the Australian Economy since Federation (2009)
Working Paper: Commodity Price Shocks and the Australian Economy since Federation (2009)
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