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The Relative Significance Of A Range Of Economic Policies For Improving Australia'S Balance Of Trade

  • Stoeckel, Andrew B.
  • Higgs, Peter J.
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    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.

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    File URL: http://purl.umn.edu/22962
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    Article provided by Australian Agricultural and Resource Economics Society in its journal Australian Journal of Agricultural Economics.

    Volume (Year): 32 (1988)
    Issue (Month): 02-03 ()
    Pages:

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    Handle: RePEc:ags:ajaeau:22962
    Contact details of provider: Postal: AARES Central Office Manager, Crawford School of Public Policy, ANU, Canberra ACT 0200
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    1. 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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