TY  - RPRT
        AU  - Gregory, Bob
        TI  - Then and Now: Reflections on Two Australian Mining Booms
        PY  - 2011/Sep/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 5969
        UR  - https://www.iza.org/publications/dp5969
        AB  - Australia is experiencing its largest mining boom for more than a century and a half. This paper explores, from a national perspective, important economic differences that arise when a mining boom, such as the current one, is generated by export price increases (trading gains) rather than export volume increases. Terms of trade changes - through their direct trading gain effect and indirect real GDP effect, primarily through increased employment levels - have increased Australian living standards. The increase, relative to the US, is about 25 per cent; an increase which probably places Australian living standards well above those of the US.
        KW  - resource booms
KW  - terms of trade
KW  - real GDP
KW  - economic growth
        ER  -