While previous terms of trade booms have tended to be short lived, there are reasons to believe that the current boom could be more enduring. This paper considers the implications for the Australian economy in the event that recent rises in the terms of trade are sustained, with a focus on...

In recent years, employment has grown strongly while output has grown modestly. This implies a weak growth in labour productivity that is difficult to interpret. In this article, we explore some possible explanations for recent economic growth and labour productivity outcomes, with a focus on...

The United States has long been considered the world’s productivity frontier, maintaining a sizeable aggregate productivity gap with Australia over the past quarter century. This paper finds that Australia’s industry structure does not appear to make a major difference to Australia’s...