To sum up while there has been extensive analysis of policy effects on output

To sum up while there has been extensive analysis of

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To sum up, while there has been extensive analysis of policy effects on output, particularly fiscal policy, relatively little has been carried out for the Australian economy and none of the existing formal analysis is focussed on the contributions of policy to saving Australia from the adverse effects of the GFC. This paper sets out to begin to fill this gap within the framework of a small VAR model of the Australian economy which is used to decompose the historical evolution of GDP according to contributions from fiscal and monetary policy and foreign factors.
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