Quantifying “Dog Days”
Janine Dixon (),
James Giesecke and
Economic Papers, 2014, vol. 33, issue 3, 203-219
type="main" xml:id="ecpa12080-abs-0001"> In Dog Days, Garnaut (2013) portrays Australia's immediate future as characterised by the end of the mining investment boom, declining terms of trade, a decline in labour input per head of population, slow multifactor productivity growth, fiscal consolidation and rising world interest rates. We quantify the consequences of these developments using a detailed general equilibrium model. Consistent with Garnaut, we find that wage and demand restraint will be required to steer Australia through the difficult period ahead. Public understanding of Dog Days will help move expectations to match current unfavourable conditions and thereby promote an orderly adjustment with minimum damage to employment and standards of living.
References: Add references at CitEc
Citations: View citations in EconPapers (5) Track citations by RSS feed
Downloads: (external link)
Access to full text is restricted to subscribers.
Working Paper: Quantifying "Dog Days" (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:bla:econpa:v:33:y:2014:i:3:p:203-219
Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0812-0439
Access Statistics for this article
Economic Papers is currently edited by Rachel Ong
More articles in Economic Papers from The Economic Society of Australia Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().