Adaptation and survival in Australian agriculture: a computable general equilibrium analysis of the impact of economic shocks originating outside the domestic agricultural sector
This volume provides quantitative estimates of the effects of an array of economic changes on Australia's macroeconomy, industry structure, and farm incomes. It examines in detail such phenomena as fluctuations in world agricultural prices, the EEC Common Agricultural Policy, protection for manufacturing industries, expansion in the mineral resources sector, change in the tax mix in favor of indirect taxation, movement in the exchange rate, change in the real wage rate, and aggregate demand management.
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S TYPICALYEAR AGRICULTURAL DATA BASE
CHANGES IN OVERSEAS DEMAND
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18 per cent aggregate employment agricultural commodities agricultural industries agricultural land agricultural sector Australian dollar balance of trade base-period Cattle and Pigs cent depreciation cent i.e. cent increase cent indexed cent wage indexation cereal grains column composite commodity consumption tax cost CPI projections degree of wage endogenous equal equation exchange rate exogenous expansion farm returns farm-gate price Farming Sugar Cane Farming Vegetables full wage indexation GDP deflator High Rainfall Zone impact increase in real industry output investment listed in Table long-run macroeconomic recovery package margin services meat cattle Meat Products sector Milk Cattle mineral resources sector Northern Beef Note Oilseeds orani simulations output response Pastoral Zone percentage change percentage deviations price of wool price rise primary factors projected to increase projections are percentage real absorption real net farm real NFR real wage rate share sheep transformation effects variables wheat Wheat-Sheep Zone wool wool/sheep woolgrowers world price zonal industries