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This 2013 Article IV Consultation highlights that the Australian economy has performed well relative to many other advanced economies since the global financial crisis. A transition phase has now been reached as the terms of trade-driven mining investment boom of the past decade has peaked, and...
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a real output gap. This method is subsequently applied to Australia -- one of the world?s leading producers of mined … permanent increase in the terms of trade of major commodity producers like Australia and has thus permanently raised government … revenues. This Working Paper relates to the 2006 OECD Economic Survey of Australia (www.oecd.org/eco/surveys/australia …
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Australian fiscal federalism is characterised by vertical fiscal imbalance, with revenue-raising powers vested mainly in the Commonwealth government and expenditure functions falling largely on state and local governments. Historically a system of intergovernmental grants has been employed to...
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GDP growth is likely to remain strong, although narrowly driven by a mining investment boom, increasing the economy’s vulnerability to terms of trade shocks. Outside the mining sector, growth is expected to be slow with still weak consumer confidence and a strong exchange rate weighing on...
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