Movements in commodity prices can have large effects on output and inflation. From both an academic and policy perspective, changes in commodity prices relative to the prices of services and manufactured goods pose a number of important questions. First, what are the fundamental processes or...

Movements in commodity prices can have large effects on output and inflation. From both an academic and policy perspective, changes in commodity prices relative to the prices of services and manufactured goods pose a number of important questions. First, what are the fundamental processes or...

The increase in Australia's terms of trade since the mid 2000s gave rise to a surge in resource investment, an appreciation of the exchange rate, and a reallocation of labour and capital in the economy. This article examines the impact of the resources boom on the Australian economy in terms of...

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...