This paper looks at the relationship between inflation and interest rates across a number of industrialised countries over the past three decades. The paper is in three parts. It begins by splitting the whole period up into a number of smaller periods and looking at the inflation/interest rate...

Studies by the Reserve Bank undertaken from 2000 to 2002 concluded that the structure of pricing in the Australian card payments system was encouraging inefficient use of credit cards relative to EFTPOS. From 2003, therefore, the Bank progressively introduced reforms to address this issue:...

It is frequently argued that an increase in the rate of growth of money or credit will lead to an increase in economic activity. This paper addresses this issue by looking at the lead/lag relationship between a range of financial aggregates and several measures of economic activity for Australia...

This paper is part of a larger project which looks at monetary policy and the economy. The object of the present paper is to serve as an introduction to and description of some key empirical regularities, without seeking to describe how monetary policy exerts its influence, or how this may have...

This paper examines the causes of asset price inflation and deflation in the Australian economy, their links with borrowing and recent problems that have arisen for banks’ balance sheets. Implications for the business cycle and monetary policy are drawn out in some detail. The difficulties...