David Greasley (University of Edinburgh) y Jakob B. Madsen (Monash University) publicaron TheRise and Fall of Exceptional Australian Incomes since 1800. En el resumen señalan: "We gauge how productivity and factor endowments shaped the rise and fall of Australia’s exceptional incomes. New measures of TFP, which include natural resource inputs, are utilized in an accounting of income growth. Further, the drivers of TFP growth are explored. Pastoralism and mining had negative TFP externalities, and we incorporate these finding into a unified accounting of incomes which distinguishes the roles of endowments and productivity. Nevertheless, TFP growth played an important role in promoting exceptional incomes between 1842-1890. Our findings favour a more balanced interpretation of Australian growth that has roles for natural resources, labour participation and productivity."
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