Australia: Selected Issues

Author: International Monetary Fund

Volume/Issue: Volume 2008 Issue 311

Publication date: September 2008

ISBN: 9781451802184

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Finance , Public Finance , Taxation - General , ISCR , CR , price , bank , commodity , consumption , inflation , soundness indicator , boom in Australia , reaction function , fiscal policy rule , import price inflation , banks' exposure , lending structure , commodity firm , Housing prices , Labor taxes , Stress testing , Global

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Summary

This Selected Issues paper on Australia highlights the IMF’s new Global Integrated Monetary and Fiscal Model (GIMF), which is used to examine the macroeconomic implications of alternative fiscal responses to higher revenue. Lower labor and capital income taxes, along with higher public investment, will generate the largest economic gains in the long term. The model shows that saving a portion of the additional revenue in the short term can help alleviate demand pressures and increase overall domestic savings.