RBA economists examine effects of price shock on ‘endogenous reserves'
Two economists at the Reserve Bank of Australia (RBA) have put out a paper arguing that the effects of a resource price shock in a small open economy that is heavily dependent on natural resources are amplified when the use of those resources reduces the future availability of reserves.
In Reserves of natural resources in a small open economy, Isaac Gross and James Hansen say the effects of a resource price shock on resource investment, labour utilisation and extraction are all amplified in the
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