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The sectorial impact of commodity price shocks in Australia
Citation
Knop, SJ and Vespignani, J, The sectorial impact of commodity price shocks in Australia, Economic Modelling, 42 pp. 257-271. ISSN 0264-9993 (2014) [Refereed Article]
Copyright Statement
Copyright 2014 Elsevier B.V.
DOI: doi:10.1016/j.econmod.2014.06.012
Abstract
This study reports that commodity price shocks predominantly affect the mining, construction and manufacturing industries in Australia. However, the financial and insurance sectors are found to be relatively unaffected. Mining industry profits and nominal output substantially increase in response to commodity price shocks. Construction output is also found to increase significantly, especially in response to a bulk commodity shock, as a result of increased demand for resource related construction. Increased demand for construction has a positive spillover effect to the parts of the manufacturing industry that supply the construction sector with intermediate inputs, such as the non-metallic mineral sub-industry. In contrast, other manufacturing sub-industries with only tenuous links to the resources sector such as textiles, clothing and other manufacturing, are relatively unresponsive to commodity price shocks
Item Details
Item Type: | Refereed Article |
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Keywords: | Commodity prices; |
Research Division: | Economics |
Research Group: | Applied economics |
Research Field: | Applied economics not elsewhere classified |
Objective Division: | Economic Framework |
Objective Group: | Macroeconomics |
Objective Field: | Macroeconomics not elsewhere classified |
UTAS Author: | Vespignani, J (Associate Professor Joaquin Vespignani) |
ID Code: | 93582 |
Year Published: | 2014 |
Web of Science® Times Cited: | 9 |
Deposited By: | TSBE |
Deposited On: | 2014-08-08 |
Last Modified: | 2017-12-14 |
Downloads: | 0 |
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