The Relative Significance Of A Range Of Economic Policies For Improving Australia'S Balance Of Trade
Australia faces a very serious trade problem. A large improvement in the balance of trade is required simply to stop its international debt from rising above levels which are already considered too high. In this paper, a range of economic policies are examined. Each generates a $A1 billion improvement (in 1985-86 prices) in the balance of trade after about 2 years. The following economic shocks are examined: an increase in world agricultural prices; a cut in real wages; a reduction in protection for manufacturing industries; a change in the tax mix in favour of indirect taxation; and a contraction in real domestic absorption. The impacts of these shocks are derived from simulations with ORANI, a computable general equilibrium model of the Australian economy. The effects of these shocks on the agricultural sector are studied in detail.
Volume (Year): 32 (1988)
Issue (Month): 02-03 ()
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- Peter B. Dixon, 1989. "The Institute Of Applied Economic And Social Research," Economic Papers, The Economic Society of Australia, vol. 8(3), pages 101-104, 09.
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