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Australia's Prosperous 2000s: Housing and the Mining Boom

In: The Australian Economy in the 2000s

  • Jonathan Kearns

    (Reserve Bank of Australia)

  • Philip Lowe

    (Reserve Bank of Australia)

The 2000s was a particularly eventful decade for both the international and Australian economies. There were: two recessions in many countries; the largest international financial crisis since the Great Depression; the ongoing rapid development of Asia; asset booms and busts; and, Australia experienced the longest sustained increase in commodity prices and the terms of trade in the nation's history. This paper provides an overview of the Australian economy's performance in the decade. Several key topics are elaborated on, including the development of Asia and implications for Australia, policy frameworks, and the opportunities and challenges facing the Australian economy, with a particular focus on the expansion of household balance sheets and the rapid growth in the mining economy.

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This chapter was published in: Hugo Gerard & Jonathan Kearns (ed.) The Australian Economy in the 2000s, Reserve Bank of Australia, pages , 2011.
This item is provided by Reserve Bank of Australia in its series RBA Annual Conference Volume with number acv2011-06.
Handle: RePEc:rba:rbaacv:acv2011-06
Contact details of provider: Postal: GPO Box 3947, Sydney NSW 2001
Phone: 61-2-9551-8111
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Web page: http://www.rba.gov.au/
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  1. David Gruen & Amanda Sayegh, 2005. "The Evolution of Fiscal Policy in Australia," Oxford Review of Economic Policy, Oxford University Press, vol. 21(4), pages 618-635, Winter.
  2. Luci Ellis, 2006. "Housing and Housing Finance: The View from Australia and Beyond," RBA Research Discussion Papers rdp2006-12, Reserve Bank of Australia.
  3. Heiko Steffens, 2010. "OECD. (2009). Promoting Consumer Education—Trends, Policies and Good Practices. Paris: Organisation for Economic Co-operation and Development. ISBN 978-92-64-06008-1. 189 pp., 30.00 EUR," Journal of Consumer Policy, Springer, vol. 33(3), pages 291-292, September.
  4. Paul Bloxham & Christopher Kent & Michael Robson, 2010. "Asset Prices, Credit Growth, Monetary and Other Policies: An Australian Case Study," RBA Research Discussion Papers rdp2010-06, Reserve Bank of Australia.
  5. Ross Garnaut, 2005. "Is Macroeconomics Dead? Monetary and Fiscal Policy in Historical Context," Oxford Review of Economic Policy, Oxford University Press, vol. 21(4), pages 524-531, Winter.
  6. Judith Yates, 2011. "Housing in Australia in the 2000s: On the Agenda Too Late?," RBA Annual Conference Volume, in: Hugo Gerard & Jonathan Kearns (ed.), The Australian Economy in the 2000s Reserve Bank of Australia.
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