The paper analyses some of the crucial macroeconomic dimensions of financial integration of Australia with the rest of the world. The paper presents the criteria that have been used to measure the degree of financial integration and capital mobility. The macroeconomic implications of increasing...

The rapid globalisation of the information economy has unleashed new pressures for increasing the tradabity of information services. There exists a large gap, however, between the rhetoric of the advocates of free trade in services and their protectionist practices.

This study analyses the reasons why the prevalance hysteresis in the Australian unemployment rate causes the unemployment rate to deviate from the natural rate during the study period 1966-1991. A simultaneous equation model is specified to illustrate the channels that generate hysteresis in the...

This study examines the paradoxical coexistence of high unemployment rates and real wage flexibility during the period 1966-92 in Australai. The neoclassical paradigm postulates that real wage flexibility is a per-requisite to operate at the natural rate or full employment level of output. The...