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Australia's Prosperous 2000s: Housing and the Mining Boom

Kearns, Jonathan; Lowe, Philip - Reserve Bank of Australia - 2011

terms of trade in the nation's history. This paper provides an overview of the Australian economy's performance in the … frameworks, and the opportunities and challenges facing the Australian economy, with a particular focus on the expansion of … household balance sheets and the rapid growth in the mining economy. …

Persistent link: https://www.econbiz.de/10009393020

The Role of Credit Supply in the Australian Economy

Jacobs, David; Rayner, Vanessa - Reserve Bank of Australia - 2012

Historical experience shows that disruptions in credit markets can have a material impact on activity and inflation. However, it is hard to measure such effects owing to the difficulty in isolating credit supply shocks. This paper employs survey data to identify the impact of credit supply...

Persistent link: https://www.econbiz.de/10010990950

A Small Model of the Australian Macroeconomy

Beechey, Meredith; Bharucha, Nargis; Cagliarini, Adam; … - Reserve Bank of Australia - 2000

This paper presents a small model of the Australian macroeconomy. The model is empirically based, aggregate in nature and consists of five estimated equations – for non-farm output, the real exchange rate, import prices, unit labour costs and consumer prices. The stylised facts underlying each...

Persistent link: https://www.econbiz.de/10005125144

Real-time National Accounts Data

Stone, Andrew; Wardrop, Sharon - Reserve Bank of Australia - 2002

, with estimates of recent growth regarded as a key summary indicator of the current health of the Australian economy …

Persistent link: https://www.econbiz.de/10005125145

Forward-looking Behaviour and Credibility: Some Evidence and Implications for Policy

Brouwer, Gordon de; Ellis, Luci - Reserve Bank of Australia - 1998

for the way the economy and monetary policy are modelled. The first half of this paper provides three pieces of … elsewhere in the economy stabilises inflation and output, given that the model includes a central bank reaction function which …

Persistent link: https://www.econbiz.de/10005423502

Monetary Policy-making in the Presence of Knightian Uncertainty

Cagliarini, Adam; Heath, Alexandra - Reserve Bank of Australia - 2000

This paper explores the extent to which Knightian uncertainty can explain features of interest rate paths observed in practice that are not generally replicated by models of optimal monetary policy. Interest rates tend to move in a sequence of steps in a given direction, or remain constant for...

Persistent link: https://www.econbiz.de/10005423509

Credit and Monetary Policy: An Australian SVAR

Berkelmans, Leon - Reserve Bank of Australia - 2005

that in responding to the macroeconomic consequences of a credit shock, monetary policy appears to stabilise the economy …

Persistent link: https://www.econbiz.de/10005423512

Monetary Policy, Asset-price Bubbles and the Zero Lower Bound

Robinson, Tim; Stone, Andrew - Reserve Bank of Australia - 2005

We use a simple model of a closed economy to study the recommendations of monetary policy-makers attempting to respond … neutral real interest rate is low. Such policy-makers should also set a higher target inflation rate if the economy’s natural …

Persistent link: https://www.econbiz.de/10005423553

Declining Output Volatility: What Role for Structural Change?

Kent, Christopher; Smith, Kylie; Holloway, James - Reserve Bank of Australia - 2005

The decline in output volatility in a number of countries over the past few decades has been well-documented, though less agreement has been reached about the causes of this decline. In this paper, we use a panel of data from 20 OECD countries to see if there is a role for various indicators of...

Persistent link: https://www.econbiz.de/10005423569

A Small Model of the Australian Macroeconomy: An Update

Stone, Andrew; Wheatley, Troy; Wilkinson, Louise - Reserve Bank of Australia - 2005

Almost a decade ago David Gruen and Geoff Shuetrim constructed a small macroeconomic model of the Australian economy. A …

Persistent link: https://www.econbiz.de/10005423570