Macroeconomic Fluctuations in the Australian Economy

Providing a reasonable explanation for the business cycle has been the research agenda for many economists since the early 20th century, from Mitchell (1913), Pigou (1927) and Adelman and Adelman (1959) to Lucas (1972), Black (1982) and King and Plosser (1984). For a review, see Zarnowitz (1985). Most attempts to explain the sources of macroeconomic fluctuations' attribute the variability in output and prices to only a few sources, sometimes to\mJ.y one. Kydland and Prescott (1982) and others proposed technology shocks as the main source of aggregate variability; Barro (1977) pointed to unanticipated changes in money stock; Lilien (1982) argued for 'unusual structural shifts' such as changes in the demand for goods relative to services, and Hamilton (1983) concluded in favour of oil price shocks.

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Australia

10.1093/oso/9780198717973.003.0016 ◽

2018 ◽

Author(s):

Simon Ville

Keyword(s):

Twentieth Century ◽

Multinational Corporations ◽

Business Model ◽

Capital Markets ◽

Business Groups ◽

Business Group ◽

Modern History ◽

Resource Base ◽

Australian Economy ◽

Diversified Portfolio

Business groups have been limited in number and influence for most of Australia’s modern history. Several entrepreneurs managed a diversified portfolio of interests, and business families often cooperated with one another, but this rarely took the form of a business group. When the Australian economy diversified into manufacturing from its initial narrow resource base, multinational corporations formed a dominant presence. Governments built infrastructure but did not facilitate groups. Maturing capital markets negated the need for in-house treasuries. Business groups temporarily dominated the corporate landscape for several decades towards the end of the twentieth century, but their business model was flawed in relation to the Australian environment and most failed to survive the downturn of the late 1980s and early 1990s.

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Industrial policy-making after COVID-19: Manufacturing, innovation and sustainability

The Economic and Labour Relations Review ◽

10.1177/10353046211014755 ◽

2021 ◽

pp. 103530462110147

Author(s):

Mark Dean ◽

Al Rainnie ◽

Jim Stanford ◽

Dan Nahum

Keyword(s):

Recent Work ◽

Industrial Policy ◽

Industrial Revolution ◽

Manufacturing Sector ◽

The Future ◽

Australian Economy ◽

Industry Policy ◽

Future Work ◽

Policy Proposals ◽

Recent Policy

This article critically analyses the opportunities for Australia to revitalise its strategically important manufacturing sector in the wake of the COVID-19 pandemic. It considers Australia’s industry policy options on the basis of both advances in the theory of industrial policy and recent policy proposals in the Australian context. It draws on recent work from The Australia Institute’s Centre for Future Work examining the prospects for Australian manufacturing renewal in a post-COVID-19 economy, together with other recent work in political economy, economic geography and labour process theory critically evaluating the Fourth Industrial Revolution (i4.0) and its implications for the Australian economy. The aim of the article is to contribute to and further develop the debate about the future of government intervention in manufacturing and industry policy in Australia. Crucially, the argument links the future development of Australian manufacturing with a focus on renewable energy. JEL Codes: L50; L52; L78; O10; O13: O25; O44; P18; Q42

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Entrepreneurship and self-employment for mature-aged people

Australian Journal of Career Development ◽

10.1177/1038416220978971 ◽

2021 ◽

Vol 30 (1) ◽

pp. 3-14

Author(s):

Alex Maritz ◽

Bronwyn Eager ◽

Saskia De Klerk

Keyword(s):

Social Health ◽

Active Ageing ◽

Entrepreneurial Ecosystem ◽

Aged People ◽

Self Employment ◽

Australian Economy ◽

Embedded Case Study ◽

Theoretical Foundations ◽

Research Recommendations

Not only do Australian mature-aged entrepreneurs contribute $11.9 billion per annum to the Australian economy in over 379,000 businesses, they launch approximately 14,000 new businesses each year and actively contribute to fiscal, social, health, and active ageing outcomes in their communities. Thirty-four per cent of all young businesses in Australia are now led by mature-aged entrepreneurs, identifying mature-aged entrepreneurship as the fastest growing sector of entrepreneurship. This study is the first of its kind to examine mature-aged entrepreneurship in Australia using five pragmatic and embedded case-study examples. Aligning to Cartensen's sociomotional selection theory, we adopted an interpretivist philosphical framework of emergent enquiry action research. The paper includes benefits and challenges associated with mature-aged entrepreneurship, including contextual and theoretical foundations. We provide policy and research recommendations to enhance the development of a dedicated entrepreneurial ecosystem for mature-aged people.

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Macroeconomic Fluctuations and Mortality in Postwar Japan

Demography ◽

10.1353/dem.0.0008 ◽

2008 ◽

Vol 45 (2) ◽

pp. 323-343 ◽

Cited By ~ 104

Author(s):

José A. Tapia Granados

Keyword(s):

Macroeconomic Fluctuations ◽

Postwar Japan

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Review of the Australian Economy 2009-10: On the Road to Recovery

Australian Economic Review ◽

10.1111/j.1467-8462.2009.00582.x ◽

2010 ◽

Vol 43 (1) ◽

pp. 1-11 ◽

Cited By ~ 3

Author(s):

Guay C. Lim ◽

Chew Lian Chua ◽

Edda Claus ◽

Sarantis Tsiaplias

Keyword(s):

The Road ◽

Australian Economy ◽

On The Road

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Macroeconomic Fluctuations and the Allocation of Time

Journal of Labor Economics ◽

10.1086/209862 ◽

1997 ◽

Vol 15 (1, Part 2) ◽

pp. S223-S250 ◽

Cited By ~ 145

Author(s):

Robert E. Hall

Keyword(s):

Macroeconomic Fluctuations ◽

Allocation Of Time

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The Australian industrial system in the era of COVID-19

Journal of Industrial Relations ◽

10.1177/00221856211012827 ◽

2021 ◽

pp. 002218562110128

Author(s):

Michele O’Neil

Keyword(s):

Industrial Relations ◽

National Level ◽

Recovery Phase ◽

Public Health Response ◽

The Public ◽

Paid Leave ◽

Union Movement ◽

Health Response ◽

Decentralised Systems ◽

Australian Economy

COVID-19 caused sudden and serious damage to the Australian economy. The effects have been spread unevenly, and highlighted the shortcomings of over-reliance on insecure forms of work. The lack of any form of paid leave for casual and other insecure workers undermined the public health response, and was emblematic of the broader consequences of insecurity. Despite its limitations, Australia’s industrial relations system responded to the challenges of the pandemic in a way that less regulated and ‘decentralised’ systems would not have been able to. This article argues that the union movement was critical to Australia’s successful response, and that the award system proved to be an adaptable mechanism to deliver change at a national level while ensuring that the representative voice of workers was heard, and basic industrial protections were not jettisoned. Industry bargaining would have also been a beneficial tool to deal with economy-wide issues of this kind. The article urges that the lessons of the pandemic be learned as we move to a recovery phase and that we ensure there are more secure jobs, better bargaining rights and improvements to basic protections to ensure that workers’ rights are not eroded.

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Credit versus monetary theories of macroeconomic fluctuations

Atlantic Economic Journal ◽

10.1007/bf02304819 ◽

1989 ◽

Vol 17 (2) ◽

pp. 42-46

Author(s):

James Peery Cover ◽

Donald L. Hooks

Keyword(s):

Macroeconomic Fluctuations

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