Trade, Employment and Structural Change: The Australian Experience

Greg Thompson, Tim Murray and Patrick Jomini
Additional contact information
Greg Thompson: Australian Productivity Commission
Tim Murray: Australian Productivity Commission
Patrick Jomini: Australian Productivity Commission

No 137, OECD Trade Policy Papers from OECD Publishing

Abstract: International trade produces income gains across the world by facilitating an efficient allocation of production among trading countries. However, increased trade exposure also creates some challenges, and there are adjustment costs associated with changing trade patterns. Effective complementary policies, by promoting flexibility and adaptation within economies, can reduce adjustment costs associated with increased trade, and therefore ensure the benefits are maximised. This paper highlights these issues with reference to recent experience in Australia. Computable General Equilibrium modelling shows how the recent improvement in Australia‘s terms of trade is likely to have increased incomes and that the magnitude of these gains is directly linked to the degree of flexibility of the economy.

Keywords: employment; growth; trade; wages (search for similar items in EconPapers)
JEL-codes: F16 (search for similar items in EconPapers)
Date: 2012-03-29
New Economics Papers: this item is included in nep-cmp and nep-int
References: Add references at CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://doi.org/10.1787/5k9csf8jftbt-en (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oec:traaab:137-en

Access Statistics for this paper

More papers in OECD Trade Policy Papers from OECD Publishing Contact information at EDIRC.
Bibliographic data for series maintained by ().