vulnerability, drawing lessons from a detailed comparison of the response of Chile and Australia to recent external shocks and from … Australia's historical experience. We argue that in order to understand sudden stops and the mechanisms to smooth them, it is …

Even though Australia has experienced frequent and large commodity export price shocks like the Third World, it seems … identifies two major price shock episodes before the recent mining-led boom and bust. It assesses their relative magnitude, their … de-industrialization and distributional impact, and policy responses. In what way has Australia been different from other …

goods-price effects vs. country-price effects. For fuel exporters, most of the terms of trade variation stems from goods-price … price effects vs. country price effects, and no overall generalization is possible. Exporters of manufactured goods face … terms of trade variation that appears to be about equally due to goods-price effects and country-price effects …