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OECD economic surveys Australia. 2012
- Author / Creator
- Available as
- Online
- Summary
-
OECD's periodic review of the Australian economy examines recent economic developments, policies and prospects. Special chapters cover strengthening adjustment capacity and productivity performance.
Details
- Format
- Books
- Language
- English
- Publication
-
- [Paris] : OECD, 2012
- Physical Details
-
- 1 online resource (140 p.)
- ISBNs
- 9789264184961, 9264184961, 9264184953
- OCLC
- ocn827207968
- Description based upon print version of record.
- Includes bibliographical references.
- English
- Table of contents; Basic statistics of Australia, 2011; Executive summary; Box 1. Key policy recommendations; Assessment and recommendations; Recent efforts to improve environmental outcomes are welcome and should continue; Figure 1. GHG emission; Figure 2. Australia's emissions trends; Macroeconomic challenges and policy requirements; The mining boom has boosted growth since the early 2000s; Figure 3. Key macrodevelopments; The economy has been temporarily weakened since the global economic crisis; Figure 4. Housing investment and house price-income ratio
- Figure 5. Growth has been uneven across sectorsFigure 6. Labour market indicators; Australia should continue to benefit from the mining boom but faces strong sectoral disparities; Table 1. Short-term projections; The boom complicates short-and medium-term monetary and fiscal policy; Figure 7. Interest rates and share prices; Box 2. Bank funding costs have fallen more slowly than the cash rate; Figure 8. Spread between the cash and mortgage rates; Figure 9. Banking sector indicators; Figure 10. Fiscal policy indicators; Figure 11. Expanded wealth measures
- Box 3. Recommendations for macroeconomic policiesRenewed structural adjustment to foster economic performance; Figure 12. Real effective exchange rates; A smooth reallocation of resources within the economy is needed to take full advantage of the new opportunities; Tax reforms have a useful role to play in facilitating ongoing structural adjustment; Figure 13. Selected characteristics of the tax system; Figure 14. Marginal welfare loss from a 5% increase in selected taxes; A flexible labour market, taking account of equity concerns, remains essential for adjustment
- Figure 15. Structural labour market indicatorsFigure 16. Income inequality; Box 4. Recommendations for facilitating the structural adjustment to the mining boom and Asian development; Enhancing productivity is critical for boosting future living standards; Figure 17. Productivity trends; Figure 18. MFP growth slowdown; Much of the multifactor productivity (MFP) decline is explained by the mining boom and concomitant structural adjustment of the economy; Figure 19. MFP growth by industry; Figure 20. Industry contributions to MFP slowdown
- Boosting long-term drivers of productivity to sustain future living standardsFigure 21. MFP gap relative to the United States; Figure 22. Science and engineering degrees; Figure 23. Collaboration and networks on innovation; Figure 24. Indicator values of PPP policy settings; Box 5. Recommendations for enhancing productivity performance; Bibliography; Annex A.1. Progress in structural reform; Chapter 1. Adjusting to the mining boom and Asian development; The effects of and response to the shock; Figure 1.1. Terms of trade; The macroeconomic effects of the shock were well managed
- Figure 1.2. Relative price changes