cycle model calibrated to the U.S. economy. The authors find that fiscal volatility shocks have an adverse effect on …

terms of trade in the nation's history. This paper provides an overview of the Australian economy's performance in the … frameworks, and the opportunities and challenges facing the Australian economy, with a particular focus on the expansion of … household balance sheets and the rapid growth in the mining economy. …

," through which sovereign default risk spills over to the rest of the economy, raising funding costs in the private sector. The … economy can become self-fulfilling. Under these conditions, fiscal retrenchment can limit the risk of macroeconomic …

standard New Keynesian model of a small open economy. Because of the stronger emphasis on intertemporal optimization, the New …