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Responding to Shocks: Australia's Institutions and Policies

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  • Ian W. McLean

    () (School of Economics, University of Adelaide)

Abstract

The current economic crisis has taught another generation of Australians that their economy remains vulnerable to negative external shocks, as it has been since the depression of the early 1840s. So it is unsurprising that shocks and crises figure prominently in the economic history literature, with most attention given the depressions of the 1890s and 1930s. Less attention has been given to other negative shocks, or to a comparative treatment of shocks. In particular, the implications for long-run prosperity resulting from the policy responses to shocks have not received the scrutiny given their short run consequences.

Suggested Citation

  • Ian W. McLean, 2010. "Responding to Shocks: Australia's Institutions and Policies," School of Economics Working Papers 2010-30, University of Adelaide, School of Economics.
  • Handle: RePEc:adl:wpaper:2010-30
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    File URL: http://www.economics.adelaide.edu.au/research/papers/doc/wp2010-30.pdf
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    References listed on IDEAS

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    More about this item

    Keywords

    Australia; economic history; growth;

    JEL classification:

    • N17 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Africa; Oceania
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O56 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Oceania
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes

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