The paper examines the evolution of monetary policy design in Australia over the past quarter of a century culminating recently in the adoption of an inflation targeting approach through the institutional mechanism of CBI (Central Bank Independence). Cross-country empirics have repeatedly...

The revolutionary changes in information technology (IT), globalisation and financial innovation have overturned the Solow productivity paradox and spawned a New Economy (NE) in Australia in the late 1990s. Both growth accounting estimates and the use of the information superhighway ranks...