122,941 research outputs found
The effect of the mining boom on the Australian economy
No full textAbstract: This paper estimates the effects of the mining boom in Australia, using a large-scale structural macroeconometric model, AUS-M. We estimate that the mining boom boosted real per capita household disposable income by 13 per cent by 2013. The boom has contributed to a large appreciation of the Australian dollar that has weighed on other industries exposed to trade, such as manufacturing and agriculture. However, because manufacturing benefits from higher demand for inputs to mining, the deindustrialisation that sometimes accompanies resource booms – the so-called ‘Dutch disease’ – has not been strong
A Rational Explanation for Boom-and-Bust Price Patterns in Real Estate Markets
No full textThis paper develops a stylized model to provide a rational explanation for the boom-and-bust price movement pattern that we frequently observe in the real world. Our stylized model indicates that there are three conditions to form a boom-and-bust price pattern in a community: a move-in of high income residents, wide income gap between new and existing residents, and supply process that leads to an inventory buildup. It seems that, based on these three conditions, China is more likely to experience a boom-and-bust price movement pattern than a developed country with a more mature and less vibrant economy.Real Estate Cycles; Boom-and-Bust; Supply Decision; Moving Costs
China and the Latin America Commodities Boom: A Critical Assessment
No full textThis Working Paper analyzes the extent to which Chinese demand enhanced the performance of Latin American economies in economic boom that took place from the turn of the century until the run up to the financial and economic crisis of 2008-2009. It has been argued that China’s rise was been a blessing for the region, because Chinese demand boosted exports and in part caused a hike in commodities prices worldwide. The author finds that the direct impact on the Latin American exports was much smaller than what was touted. He goes on to address concerns over a Chinese-demand-led 'resource curse' and deindustrialization in Latin America.
Monetary policy and stock market boom-bust cycles
No full textWe explore the dynamic effects of news about a future technology improvement which turns out ex post to be overoptimistic. We find that it is difficult to generate a boom-bust cycle (a period in which stock prices, consumption, investment and employment all rise and then crash) in response to such a news shock, in a standard real business cycle model. However, a monetized version of the model which stresses sticky wages and a Taylorrule based monetary policy naturally generates a welfare-reducing boom-bust cycle in response to a news shock. We explore the possibility that integrating credit growth into monetary policy may result in improved performance. We discuss the robustness of our analysis to alternative specifications of the labor market, in which wage-setting frictions do not distort on going firm/worker relations. JEL Classification: C11, C51, E5, E13, E32Asset price boom-busts, DSGE Models, monetary policy
The boom-bust cycle in Finland and Sweden 1984-1995 in an international perspective
No full textThis paper compares the boom-bust cycle in Finland and Sweden 1984-1995 with the average boom-bust pattern in industrialized countries as calculated from an international sample for the period 1970-2002. Two clear conclusions emerge. First, the Finnish-Swedish experience is much more volatile than the average boom-bust pattern. This holds for virtually every time series examined. Second, the bust and the recovery in the two Nordic countries differ markedly more from the international pattern than the boom phase does. The bust is considerably deeper and the recovery comes earlier and is more rapid. We explain the highly volatile character of the Finnish and Swedish boom-bust episode by the design of economic policies in the 1980s and 1990s. The boom-bust cycle in Finland and Sweden 1984-1995 was driven by financial liberalization and a hard currency policy, causing large pro-cyclical swings in the real rate of interest transmitted via the financial sector into the real sector and then into the public finances. JEL Classification: E32, E62, E6
Going Beyond Counting First Authors in Author Co-citation Analysis
No full textThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
The economic impact of the mining boom on Indigenous and non-Indigenous Australians
No full textThis paper examines changes in Indigenous employment, income and housing costs to identify any localised ‘resource curse’ for Indigenous communities and the Australian population at large.
Abstract
Until the global financial crisis reduced Australian economic growth in late 2008, Indigenous employment had been increasing in both absolute and relative terms for over a decade. The effect of the international economic contraction has been mitigated by Australia’s booming mining sector, largely due to China’s growing demand for resources. Given that a substantial number of mining operations are on or near Indigenous land, the increase in mining investment may have disproportionately affected Indigenous communities. There are concerns that, in remote mining areas, the increases in housing costs generated by the mining boom mean that anyone who does not work in the mining industry, particularly those who rely on government benefits, will find it harder to afford housing. Localised inflationary tendencies can also affect people employed outside the mining sector, but one would expect that scarcity in the labour market would drive up wages in both mining and non‑mining jobs. This paper examines changes in Indigenous employment, income and housing costs to identify any localised ‘resource curse’ for Indigenous communities and the Australian population at large. The paper draws on data from recent censuses, the geographic location of mines and mining investment to identify some potentially important effects of the mining boom on Indigenous communities. The main finding is that the mining boom has improved employment and income outcomes, but increased average housing costs. While the average increase in income has generally offset the increase in costs, there is some evidence that housing stress for low-income households has increased as a result of the mining boom
Inquiry into the interlocution of students engaged with mathematics: appreciating links between research and practice
No full textFor either to be useful, links between research and practice are critical. Just as important are connections between the practice of students engaged in mathematical activity and research that seeks to understand that practice. This research report explores lessons that researchers and practitioners can learn from an inquiry into the interlocution of students working collaboratively in small groups when engaged in talking and listening to each other. We use the term interlocution to denote discursive practices of learners in conversational exchanges. Questions that motivate this research included the following. What discursive practices do interlocutors employ as they work collaboratively to understand and resolve mathematical tasks? How do these practices influence the growth of their mathematical ideas? In what ways do their discursive practices help them move from a contextualized, situated task to generalize the task or their solution? Do students' discursive practices assist them to connect and generalize ideas from a new problem to others on which they have worked?Powell, A. B., & Maher, C. A. (2002). Inquiry into the interlocution of students engaged with mathematics: Appreciating links between research and practice. In D.S. Mewborn, P. Sztajn, D.Y. White, H.G. Wiegel, R.L. Bryant & K. Nooney (Eds.), Proceedings of the twenty-fourth annual meeting of the North American Chapter of the International Group for the Psychology of Mathematics Education (Athens, Georgia) (Vol. 1, pp. 317-329). Columbus, OH: ERIC Clearinghouse for Science, Mathematics, and Environmental Education
The Boom-Bust Cycle in Finland and Sweden 1984-1995 in an International Perspective
No full textThis paper compares the boom-bust cycle in Finland and Sweden 1984-1995 with the average boom-bust pattern in industrialized countries as calculated from an international sample for the period 1970-2002. Two clear conclusions emerge. First, the Finnish-Swedish experience is much more volatile than the average boom-bust pattern. This holds for virtually every time series examined. Second, the bust and the recovery in the two Nordic countries differ markedly more from the international pattern than the boom phase does. The bust is considerably deeper and the recovery comes earlier and is more rapid. We explain the highly volatile character of the Finnish and Swedish boom-bust episode by the design of economic policies in the 1980s and 1990s. The boom-bust cycle in Finland and Sweden 1984-1995 was driven by financial liberalization and a hard currency policy, causing large pro-cyclical swings in the real rate of interest transmitted via the financial sector into the real sector and then into the public finances.Boom, Bust, Asset Price Cycles, Real Interest Rates, Financial Crisis, Finland, Sweden
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