Commodity Price Shocks and the Australian Economy since Federation

Sambit Bhattacharyya and Jeffrey G. Williamson

No 605, CEPR Discussion Papers from Centre for Economic Policy Research, Research School of Economics, Australian National University

Abstract: Australia has experienced frequent and large commodity export price shocks like Third World commodity exporters, but this price volatility has had much more modest impact on economic performance. 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 deindustrialization and distributional impact during the booms, and their labour market and policy responses throughout. Australia has indeed responded differently to volatile commodity prices than have other commodity exporters.

Keywords: Commodity exports; price shocks; Australian economy (search for similar items in EconPapers)
JEL-codes: F14 F43 N17 O56 (search for similar items in EconPapers)
Date: 2009-04
New Economics Papers: this item is included in nep-opm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

Downloads: (external link)
https://www.cbe.anu.edu.au/researchpapers/CEPR/DP605.pdf (application/pdf)

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)
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:auu:dpaper:605

Access Statistics for this paper

More papers in CEPR Discussion Papers from Centre for Economic Policy Research, Research School of Economics, Australian National University Contact information at EDIRC.
Bibliographic data for series maintained by ().