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Australia: 2010 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion

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  • International Monetary Fund

Abstract

The impact of the global crisis was milder in Australia than in other advanced economies owing to strong demand from Asia and decisive policy responses. Australian banks were resilient to the global crisis, and the labor market was flexible in the face of the shock. The exit from fiscal stimulus is appropriate as is the recent review of the tax system. Banks could adopt riskier strategies and require vigilance. The exchange rate is overvalued but will dissipate as interest rates in other advanced economies eventually normalize.

Suggested Citation

  • International Monetary Fund, 2010. "Australia: 2010 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion," IMF Staff Country Reports 2010/331, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2010/331
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    Cited by:

    1. Maciej Krzak & Grzegorz Poniatowski & Katarzyna Wasik, 2014. "Measuring financial stress and economic sensitivity in CEE countries," CASE Network Reports 0117, CASE-Center for Social and Economic Research.
    2. Andrea Kendall-Taylor, 2012. "Purchasing Power: Oil, Elections and Regime Durability in Azerbaijan and Kazakhstan," Europe-Asia Studies, Taylor & Francis Journals, vol. 64(4), pages 737-760.
    3. Morris Goldstein, 2011. "Integrating Reform of Financial Regulation with Reform of the International Monetary System," Working Paper Series WP11-5, Peterson Institute for International Economics.
    4. Ping, Luo, 2011. "The Current State of the Financial Sector and the Regulatory Framework in Asian Economies—The Case of the People’s Republic of China," ADBI Working Papers 310, Asian Development Bank Institute.
    5. Guonan Ma & Ivan Roberts & Gerard Kelly, 2016. "A Rebalancing Chinese Economy: Challenges and International Implications," RBA Annual Conference Volume (Discontinued), in: Iris Day & John Simon (ed.),Structural Change in China: Implications for Australia and the World, Reserve Bank of Australia.

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