Australia: Recent Economic Developments

International Monetary Fund

No 1997/022, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reviews developments in the Australian economy during the prolonged expansion of the 1990s. The focus is on developments in the real sector, public finances, monetary policy, and the balance of payments during 1996–97. The paper reviews longer-term developments in the labor market in Australia, examining the causes of the trend rise in unemployment. In particular, it examines the role played by the traditional, centralized industrial relations system and discusses the efforts to encourage enterprise bargaining and establish a more flexible labor market.

Keywords: ISCR; CR; exchange rate; state government; fiscal policy; unemployment rate; private sector; retained earnings; percent of GDP; terms of trade; balance of payments; budget deficit; monetary policy; Budget planning and preparation; Public sector; Employment; Global; Southeast Asia; Asia and Pacific; Pacific Islands (search for similar items in EconPapers)
Pages: 95
Date: 1997-04-17
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