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Monetary policy and market operations : papers presented at Pacific Region Central Bank Conferences held at the H. C. Coombs Centre for Financial Studies, Sydney

1990

Persistent link: https://www.econbiz.de/10000840078

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 optimally to an asset-price bubble whose stochastic properties they understand. We focus on the impact which the zero lower bound (ZLB) on nominal interest rates has on the...

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

The Phillips Curve in Australia

Gruen, David; Pagan, Adrian; Thompson, Christopher - Reserve Bank of Australia - 1999

. These include the distinction between the short and long-run trade-offs between inflation and unemployment, and the changing … level of the non-accelerating inflation rate of unemployment (NAIRU), particularly in the 1970s. We estimate Phillips curves …

Persistent link: https://www.econbiz.de/10005426716