OECD economic surveys : Australia 1996-1997 / Organisation for Economic Co-operation and Development.

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development, issuing body.

Series:

OECD Economic Surveys: Australia

Language:

English

Subjects (All):

Economic history.

Australia--Economic conditions--1975-.

Australia.

Australia--Economic policy--1975-.

Physical Description:

1 online resource (219 pages)

Edition:

1st ed.

Place of Publication:

Paris, France : OECD Publishing, [1996]

Language Note:

English

Summary:

Assessment and recommendations I. Recent trends and short-term prospects -Solid economic growth -Employment growth slows -A temporary surge in inflation -Some narrowing of the current external deficit -The outlook to 1998 II. Economic policy -Monetary policy -Fiscal policy III. Implementing the OECD Jobs Strategy -Introduction -Labour market and employment performance -Policy requirements -Recent policy actions -Assessment and scope for further action IV. Education and training -Introduction -Traditional features of the education and training system -Meeting the challenge -Education, training and earnings -Outstanding issues -List of acronyms Bibliography Annexes -I. Active labour market policies (ALMPs) and case management -II. Institutional arrangements in the education and training sector -III. Government funding and provision of formal education -IV. Calendar of main economic events Statistical annex and structural indicators.

Contents:

Intro

Table of contents

Assessment and recommendations

I. Recent trends and short-term prospects

Solid economic growth

Figure 1. THE CURRENT EXPANSION COMPARED

Table 1. Demand and output

Figure 2. HOUSING AFFORDABILITY

Figure 3. POTENTIAL OUTPUT AND THE OUTPUT GAP

Figure 4. CONTRIBUTION TO GDP GROWTH

Employment growth slows

Table 2. The labour market

Figure 5. OUTPUT AND EMPLOYMENT

A temporary surge in inflation

Table 3. Costs and prices

Figure 6. LABOUR COST AND PRODUCTIVITY

Figure 7. INTERNATIONAL COMPARISON OF CONSUMER PRICES

Some narrowing of the current external deficit

Figure 8. COMPETITIVENESS AND TRADE

Table 4. Trade in goods and services

Table 5. Current account trends

The outlook to 1998

Current economic indicators and policy assumptions

Prospects

Table 6. Short-term prospects

II. Economic policy

Monetary policy

The objective of monetary policy

Figure 9. THE CHANGED INFLATION ENVIRONMENT

Figure 10. THE PERFORMANCE OF MONETARY POLICY

The recent setting of monetary policy

Figure 11. INTEREST RATES

A strengthening exchange rate

Figure 12. EXCHANGE RATES

Credit markets

Figure 13. CREDIT TO THE PRIVATE SECTOR

Long-term bond rates

Figure 14. INTERNATIONAL COMPARISON OF LONG-TERM INTEREST RATES

Stabilised inflation expectations

The Reserve Bank's response to tightened monetary conditions

Clarifying the Reserve Bank's independence

Is the Reserve Bank's inflation objective optimal?

Fiscal policy

Background: Long-term trends in national saving and investment

Figure 15. NATIONAL SAVING AND INVESTMENT

Figure 16. NET LENDING

Table 7. Commonwealth budget over economic cycles

Figure 17. COMMONWEALTH REVENUE

The FY 1995/96 Commonwealth budget out-turn

Table 8. Commonwealth budget developments.

The FY 1996/97 Commonwealth Budget

Table 9. Budget measures and forecasts

The outlook for States/local government

Figure 18. GENERAL GOVERNMENT REVENUES AND UNDERLYING OUTLAYS

The outlook for general government

The stance of fiscal policy

Debt

Figure 19. GENERAL GOVERNMENT NET DEBT

Charter of Budget Honesty

Assessment

III. Implementing the OECD Jobs Strategy

Introduction

Figure 20. KEY FEATURES OF THE LABOUR MARKET

Table 10. Indicators of the structural rate of unemployment

Labour market and employment performance

Figure 21. LABOUR FORCE TRENDS

Figure 22. SHARE OF PART-TIME WORKERS IN TOTAL EMPLOYMENT

Figure 23. PATTERNS OF EMPLOYMENT

Figure 24. STRUCTURE OF UNEMPLOYMENT

Figure 25. THE BEVERIDGE CURVE

Policy requirements

Box 1. The OECD Jobs Study

Enhancing the ability to adjust and to adapt

Wage formation and wage flexibility

Industrial relations

Aggregate wage flexibility

Figure 26. REAL WAGE, PRODUCTIVITY AND LABOUR SHARES: BUSINESS SECTOR

Relative wage flexibility

Figure 27. TRENDS IN EARNINGS DISPERSION

Taxes and transfers

Taxes on labour

Table 11. Overall tax wedges,1 single APW, 1978-94

Figure 28. AVERAGE AND MARGINAL TAX WEDGES IN THE EARLY 1990s

Unemployment and other social benefits

Figure 29. SUMMARY MEASURE OF BENEFIT ENTITLEMENTS

Table 12. Unemployment benefit replacement rates by duration categories and family circumstances, 1994

Figure 30. APPRENTICESHIPS: COMMENCEMENTS AND PARTICIPATION RATES

Table 13. Replacement rates for single-earner households, 1994

Table 13. Replacement rates for single-earner households, 1994 (cont.)

Table 14. Incidence and causes of high marginal effective tax rates

Flexibility of employment and working time

Flexibility in conditions of employment

Employment Protection Legislation.

Industrial Relations and Other Legislation Amendment Act 1995

Active labour market policies (ALMPs)

Table 15. Commencements into selected labour market programmes

Table 16. Outcomes of selected active labour market programmes: three and twelve months after participation

Increasing the knowledge base, efficiency and innovative capacity

Upgrading skills and competences

Product market competition

Enhancing innovative performance

Recent policy actions

Labour market reforms

Workplace Relations and Other Legislation Amendment Bill

Unemployment and other benefits

Table 17. The incentive to work part-time for an unemploymed person with two children

Active labour market policies

Training and education

Competition policy

Box 2. Elements of the 1995 national competition policy package

Technology and innovation

Assessment and scope for further action

IV. Education and training

Traditional features of the education and training system

Table 18. Educational participation rates of 17-19 year-olds

Meeting the challenge

Increased participation in post&amp

hyphen

compulsory education and training

Table 19. Schools: Age-participation rates

Table 20. Upper secondary graduation rates

Table 21. Monitoring the Finn targets for 19 year-olds

Figure 31. NET ENROLMENT RATES IN TERTIARY EDUCATION

Table 22. Wage and salary earners in training

Modifying upper secondary school curricula for mass participation

More pathways from school to work&amp

norm

&amp

ital

Improving the labour-market relevance of education and training

Improving the articulation between educational sectors

Enhancing equity

Enhancing efficiency

Organisational reforms

Increasing competitive pressures

Table 23. School enrolments by type of school.

Education, training and earnings

Table 24. Earning by level of education

Outstanding issues

List of acronyms

Notes

Bibliography

Annex I

Active labour market policies (ALMPs) and case management

Labour market programmes

Case management

Annex II

Institutional arrangements in the education and training sector

General context

Educational structure and enrolments

Figure A1. AUSTRALIAN EDUCATION SYSTEM

Annex III

Government funding and provision of formal education

Figure A2. PUBLIC AND PRIVATE EXPENDITURE LEVELS BY LEVEL OF EDUCATION, 1993

Figure A3. EXPENDITURE SHARES OF PUBLIC AND PRIVATE EDUCATIONAL INSTITUTIONS

Annex IV

Calendar of main economic events

STATISTICAL ANNEX AND STRUCTURAL INDICATORS

Table A. Selected background statistics

Table B. Gross domestic product

Table C. Income and expenditure of households (including unincorporated enterprises)

Table D. Prices and wages

Table E. Balance of payments

Table F. Foreign trade by commoditity

Table G. Foreign trade by area

Table H. Production structure and performance indicators

Table I. Labour market indicators

Table J. The public sector

FIGURES

Figure 16. NET LENDING.

Figure 17. COMMONWEALTH REVENUE

Figure 31. NET ENROLMENT RATES IN TERTIARY EDUCATIO

TABLES

Table 8. Commonwealth budget developments

Table 13 Replacement rates for single-earner households, 1994

Table 13 Replacement rates for single-earner households, 1994 (cont.)

Table 18. Educational participation rates of 17-19 year-olds.

Table 19. Schools: Age-participation rates.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Description based on print version record.

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-14968-6

OCLC:

1226585512