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 shocks in Australia over the past three decades, using a structural …

, and past shocks to credit are found to be important for credit growth. Over longer horizons, shocks to output, inflation … credit shock results in higher inflation for about two years, but it would be higher still over this period in the absence of …Credit is an important macroeconomic variable that helps to drive economic activity and is also dependent on economic …

favour of the SIPC over the low-inflation period. Parameter estimates are sensitive to inflation measures and sample periods … the fact that inflation has become difficult to model since the introduction of inflation targeting. Over sample periods …

This paper estimates a range of single-equation models of inflation for Australia. We find that traditional models …-Keynesian Phillips curve (NKPC) in explaining trimmed mean inflation, both in terms of in-sample fit and significance of coefficients … including a direct measure of inflation expectations, but we still find that the unemployment rate or growth in marginal costs …