The increasing cross-border flows of information, trade, capital and technology have profoundly changed the macroeconomic fabric of nations. In the emergent borderless world macroeconomic theories and policy-making confront new challenges. This paper identifies and evaluates some of these...

The dissolving trade barriers, financial deregulation, hyper-mobility of capital and the rapid diffusion of new information technologies have ushered the Australian economy into the borderless world. The orthodoxy that states that centralised wage-fixing in Australia has impeded wage flexibility...