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

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

information about inflation expectations – that survey measures of expectations are inconsistent with rational expectations, but … less so for financial markets than households; that actual and expected inflation interact with each other; and that the … foreign exchange market anticipates tighter monetary policy when inflation is higher than expected. The second half of the …

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

Currency Crises and Macroeconomic Performance

Gower, Luke; Krause, Alan - Reserve Bank of Australia - 2002

inflation. It identifies some of the characteristics shared by countries which have suffered falling output in the aftermath of …

Persistent link: https://www.econbiz.de/10005423613

Real-time National Accounts Data

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

Quarterly national accounts data are amongst the most important and eagerly awaited economic information available, with estimates of recent growth regarded as a key summary indicator of the current health of the Australian economy. Official estimates of quarterly output are, however, subject to...

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

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

Inflation Targeting and the Inflation Process: Some Lessons from an Open Economy

Debelle, Guy; Wilkinson, Jenny - Reserve Bank of Australia - 2002

In an open economy inflation-targeting framework, whether policy-makers should target aggregate or non-traded inflation … inflation process that the paper suggests have occurred over the past two decades: the effect of exchange rate changes on … inflation appears to have become more muted and the inflation process appears to have become better anchored. …

Persistent link: https://www.econbiz.de/10005423601

The Effect of Uncertainty on Monetary Policy: How Good are the Brakes?

Debelle, Guy; Cagliarini, Adam - Reserve Bank of Australia - 2000

In practice, monetary policy changes tend to produce a smooth path for interest rates while the path of policy interest rates generated by models is often considerably more variable. This paper investigates whether the inclusion of uncertainty can help reconcile the theory to the practice. It...

Persistent link: https://www.econbiz.de/10005423612

What Do Financial Market Data Tell Us about Monetary Policy Transparency?

Coppel, Jonathan; Connolly, Ellis - Reserve Bank of Australia - 2003

This paper attempts to discern from financial market data the impact of greater monetary policy transparency over the period since the late 1980s. We examine whether interest rate variability has changed, the degree to which financial markets anticipate policy moves and movements in the yield...

Persistent link: https://www.econbiz.de/10005423616

Asset Prices, Credit Growth, Monetary and Other Policies: An Australian Case Study

Bloxham, Paul; Kent, Christopher; Robson, Michael - Reserve Bank of Australia - 2010

The long-running debate about the role of monetary policy in responding to rising asset prices has received renewed attention in the wake of the global financial crisis.This paper contributes to this debate by describing the Australian experience of a cycle in house prices and credit from 2002...

Persistent link: https://www.econbiz.de/10008642169

Inflation in an era of relative price shocks : proceedings of a conference held at the H. C. Coombs Centre for Financial Studies, Kirribilli on 17 - 18 August 2009

Fry, Renée (contributor); Jones, Callum (contributor); … - 2010

Persistent link: https://www.econbiz.de/10008689083

Introduction to Inflation in an Era of Relative Price Shocks

Fry, Renée; Jones, Callum; Kent, Christopher - Reserve Bank of Australia

Persistent link: https://www.econbiz.de/10008499704

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