Macroeconomic Policy: Some International Lessons for Australia
AbstractThis paper reviews recent macroeconomic experience outside Australia, especially in the United States, the United Kingdom and continental Europe, and compares it with Australian experience. It discusses booms and recessions, inflation (especially the "credibility" issue), unemployment (cyclical and structural), and exchange rate policy. It also discusses implications for monetarism and rational expectations theories. Two conclusions are that the big remaining problem in Europe and in Australia is structural unemployment, and that Australia was wise to float the dollar and abandon the crisis-prone "fixed-but-adjustable" exchange rate regime.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Queensland University of Technology (QUT), School of Economics and Finance in its journal Economic Analysis and Policy (EAP).
Volume (Year): 25 (1995)
Issue (Month): 1 ()
Boom; Inflation; Macroeconomic Policy; Macroeconomics; Policy; Recession; Structural Unemployment; Unemployment;
Find related papers by JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
- E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Manuela Torgler).
If references are entirely missing, you can add them using this form.