Zoning regulations restrict housing supply and hence raise prices. This paper quantifies this effect by comparing prices to marginal costs in Australia's four largest cities. For detached houses, marginal costs comprise the dwelling structure and the land that other home owners need to forego....

This paper estimates the effects of the mining boom in Australia, using a large-scale structural macroeconometric model, AUS-M. We estimate that the mining boom boosted real per capita household disposable income by 13 per cent by 2013. The boom has contributed to a large appreciation of the...

We find that Okun's law provides a simple and accurate means of understanding and predicting changes in the unemployment rate in Australia. Okun's law also implies a rate of output growth consistent with stable unemployment, called the growth of potential output. Our estimates of potential...