Australia: The Miracle Economy

Pramod (Raja) Junankar

No 7505, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: Most of the countries of the OECD are still suffering from the Global Financial Crisis (GFC) (or as the Americans call it the Great Recession), but the Australian economy appears to be powering ahead. It is a miracle economy! Unlike most of the OECD countries, Australia did not even have a recession. In this paper we study the behaviour of the Australian economy compared to some of the OECD countries and see that, in fact, Australia has a "miracle economy". The comparisons are made in terms of several macroeconomic indicators, GDP, Unemployment, Inflation, Current Account Balances, and debt.

Keywords: OECD; Great Recession; macroeconomic indicators; unemployment (search for similar items in EconPapers)
JEL-codes: E24 E30 E60 (search for similar items in EconPapers)
Pages: 10 pages
Date: 2013-07
New Economics Papers: this item is included in nep-mac
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Citations: View citations in EconPapers (2)

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