Macroeconomic Consequences of Terms of Trade Episodes, Past and Present

Tim Atkin, Mark Caputo, Tim Robinson and Hao Wang

No 22, CEH Discussion Papers from Centre for Economic History, Research School of Economics, Australian National University

Abstract: The early 21st century saw Australia experience its largest and longest terms of trade boom. This paper places this recent boom in a long-run historical context by comparing the current episode with earlier cycles. While similarities exist across most episodes, current macroeconomic policy frameworks and settings are quite different to those of the past. This mitigated the broader macroeconomic consequences of the upswing and as the terms of trade decline may do likewise.

Keywords: commodity prices; terms of trade; macroeconomic policy (search for similar items in EconPapers)
JEL-codes: E30 E60 N17 (search for similar items in EconPapers)
Date: 2014-01
New Economics Papers: this item is included in nep-his, nep-int and nep-mac
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Citations: View citations in EconPapers (10)

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Related works:
Journal Article: Macroeconomic Consequences of Terms of Trade Episodes, Past and Present (2017)
Working Paper: Macroeconomic Consequences of Terms of Trade Episodes, Past and Present (2014)
Working Paper: Macroeconomic Consequences of Terms of Trade Episodes, Past and Present (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:auu:hpaper:022

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