Transmission of a Resource Boom: The Case of Australia,Oxford Bulletin of Economics and Statistics

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Transmission of a Resource Boom: The Case of Australia
Oxford Bulletin of Economics and Statistics ( IF 2.5 ) Pub Date : 2019-11-08 , DOI: 10.1111/obes.12352
Mardi Dungey _{1,

2} , Renee Fry‐Mckibbin ₃ , Vladimir Volkov ₁

Affiliation

This paper presents evidence on the macroeconomic adjustment of a resource‐rich country to a resource boom using the effects of Chinese industrialization on Australia from 1988 to 2016. An SVAR model is specified, incorporating a proxy for Chinese resource demand and commodity prices to identify the effects of commodity supply and demand shocks on the Australian macroeconomy. We develop a multivariate historical decomposition to show how resource sector shocks lead the economy to deviate from a long‐run projection. The paper identifies four phases of the transmission of the resource boom before its conclusion in 2015.

更新日期：2019-11-08

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