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Treasury Policy Perspectives

Explore Australia's productivity in comparison to the United States, industry productivity levels, and factors affecting Australian context. Analyze GDP per capita, participation rates, and more within the Treasury's framework.

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Treasury Policy Perspectives

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  1. Treasury Policy Perspectives Graeme DavisMacroeconomic Policy Division

  2. multiplied by Participation rate multiplied by 1 – unemployment rate multiplied by Average hours worked Participation multiplied by GDP per hour worked Productivity Treasury’s 3 Ps Framework GDP per capita = Proportion of population of working age Population

  3. Comparisons of Australia with the United States Australian GDP per capita as a per cent of the United States GDP per capita % of US Source: Groningen Growth and Development Centre and The Conference Board (2004)

  4. Comparisons of Australia with the United States Australian hours worked per capita as a per cent of the United States GDP per capita % of US Population and Participation % of US Source: Groningen Growth and Development Centre and The Conference Board (2004)

  5. Comparisons of Australia with the United States Australian GDP per hour worked as a per cent of the United States GDP per capita % of US Population and Participation % of US Productivity % of US Source: Groningen Growth and Development Centre and The Conference Board (2004)

  6. Mining Health & Community Services Accommodation, Cafes Retail Trade & Restaurants Cultural, Recreational, Transport Government Administration Personal & Other & Storage & Defence Education Property & Services Finance Business Construction & Insurance Agriculture Services Wholesale Communications Trade Electricity Manufacturing Gas & Water Australian industry productivity levels relative to the United States (1985) Index (US=100) Index (US=100) 200 200 100 100 0 0 Employment

  7. Transport & Storage Mining Health & Community Services Accommodation, Cafes Electricity Gas & Water & Restaurants Education Cultural, Recreational, Finance & Insurance Personal & Other Agriculture Services Government Administration Construction & Defence Communications Wholesale Trade Retail Property & Trade Business Manufacturing Services Australian industry productivity levels relative to the United States (2001) Index (US=100) Index (US=100) 200 200 100 100 0 0 Employment

  8. Context affecting Australia • Internal geography • Location • Population • History and historical linkages • Natural endowments

  9. Distance to World GDP Australia United Kingdom

  10. Summary Current questions… • Does Australia’s context limit our ability to close the productivity gap? • To what extent can policy be used to close the productivity gap?

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