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The sectorial impact of commodity price shocks in Australia

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Knop, S and Vespignani, JL (2014) The sectorial impact of commodity price shocks in Australia. Discussion Paper. University of Tasmania. (Unpublished)

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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)
Keywords: Commodity prices; Commodity Shocks; Australian economy; repec
Publisher: University of Tasmania
Additional Information:

Copyright 2014 The University of Tasmania

Date Deposited: 27 May 2014 00:25
Last Modified: 18 Nov 2014 05:00
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