OECD economic surveys Australia. 2012.

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development Staff, Corporate Author.

Contributor:

Organisation for Economic Co-operation and Development.

Series:

OECD Economic Surveys

OECD economic surveys, 0376-6438

OECD economic surveys. Australia, 1995-3089 ; 2012

Language:

English

Subjects (All):

Australia--Economic conditions.

Australia.

Australia--Economic policy.

Physical Description:

1 online resource (140 p.)

Place of Publication:

[Paris] : OECD, 2012.

Language Note:

English

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.

Contents:

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

Notes:

Description based upon print version of record.

Includes bibliographical references.

ISBN:

92-64-18496-1

OCLC:

827207968