Australian Macroeconomic Performance and Policies in the 1990s
نویسندگان
چکیده
A decade ago, in July 1990, the Australian economy had just entered a severe recession. Real GDP slowed in the first half of 1990, and then began to fall in the second half of the year. The rate of unemployment in mid 1990 was around 63/4 per cent but rose sharply in the following year. The rate of inflation was around 6 per cent, but was about to decline quickly, to levels not seen since the early 1960s. For many, the decline in inflation was completely unexpected, and many believed for several years that it could not last.
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