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Australia: Selected Issues

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  • International Monetary Fund

Abstract

This Selected Issues paper reviews how Australia’s economy has adapted to a flexible Australian Dollar. The paper provides a background on the float and the initial policy challenges. It discusses the main elements of the Future Fund proposal, and estimates how much Australia and other countries in the Asia-Pacific region would gain from greater financial integration. The results suggest that these welfare gains are large, giving an argument in favor of a progressive capital account liberalization across the region, once the needed supporting measures are in place.

Suggested Citation

  • International Monetary Fund, 2005. "Australia: Selected Issues," IMF Staff Country Reports 2005/330, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2005/330
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    References listed on IDEAS

    as
    1. van Wincoop, Eric, 1999. "How big are potential welfare gains from international risksharing?," Journal of International Economics, Elsevier, vol. 47(1), pages 109-135, February.
    2. Lewis, Karen K., 2000. "Why do stocks and consumption imply such different gains from international risk sharing?," Journal of International Economics, Elsevier, vol. 52(1), pages 1-35, October.
    3. Keith Sill, 2001. "The gains from international risk-sharing," Business Review, Federal Reserve Bank of Philadelphia, issue Q3, pages 23-32.
    4. Lane, Philip & Milesi-Ferretti, Gian Maria, "undated". "External Wealth of Nations," Instructional Stata datasets for econometrics extwealth, Boston College Department of Economics.
    Full references (including those not matched with items on IDEAS)

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