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The sectorial impact of commodity price shocks in Australia
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2014-05_Vespign...pdf | Download (2MB) Available under University of Tasmania Standard License. |
Abstract
It is found that commodity price shocks largely affect the mining, construction and manufacturing industries in Australia. However, the financial and insurance sector is found to be relatively unaffected. Mining industry profits and nominal output substantially increase in response to commodity price shocks. Construction output is also found to increase significantly, especially in response to a bulk commodities shock, as a result of increased demand for resource related construction. Increased demand for construction has a positive spillover effect to parts of the manufacturing industry that supply the construction sector with intermediate inputs, such as the non-metallic mineral sub industry. In contrast, other manufacturing sub industries with only tenuous links to the resources sector such as textiles, clothing and other manufacturing, are relatively unresponsive to commodity price shocks.
Item Type: | Report (Discussion Paper) |
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Authors/Creators: | Knop, S and Vespignani, JL |
Keywords: | Commodity prices; Commodity Shocks; Australian economy; repec |
Publisher: | University of Tasmania |
Additional Information: | Copyright 2014 The University of Tasmania |
Item Statistics: | View statistics for this item |
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