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Transmission of a resource boom: the case of Australia
journal contribution
posted on 2023-05-20, 08:17 authored by Dungey, M, Fry-Mckibbin, F, Vladimir VolkovVladimir VolkovThis paper presents evidence on the macroeconomic adjustment of a resource‐rich country to a resource boom using the effects of Chinese industrialization on Australia from 1988 to 2016. An SVAR model is specified, incorporating a proxy for Chinese resource demand and commodity prices to identify the effects of commodity supply and demand shocks on the Australian macroeconomy. We develop a multivariate historical decomposition to show how resource sector shocks lead the economy to deviate from a long‐run projection. The paper identifies four phases of the transmission of the resource boom before its conclusion in 2015.
History
Publication title
Oxford Bulletin of Economics and StatisticsPagination
1-23ISSN
0305-9049Department/School
TSBEPublisher
Wiley-Blackwell Publishing LtdPlace of publication
United KingdomRights statement
© 2019 The Department of Economics, University of Oxford and JohnWiley & Sons Ltd.Repository Status
- Restricted