Download or read book The Implementation of Monetary Policy in Australia written by Ric Battellino and published by . This book was released on 1997 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: In January 1990, the Reserve Bank of Australia (RBA) began announcing and explaining changes in the target cash rate. This has increased public understanding of monetary policy and, by increasing the attention given to changes in interest rates, has affected the way in which changes in policy are transmitted to the economy. In addition, the discipline of having to announce and explain changes in the target cash rate to the public has led to a clearer focus on the objectives of monetary policy within the RBA and improved the accountability of the Bank. It has also led to a substantial decline in the volatility of short-term interest rates and more rapid pass-through of changes in the target cash rate into deposit and lending rates. In Australia, as in many other countries, interest rates have tended to be adjusted in a series of steps in the same direction. In part, this can be explained in terms of the uncertainty that policy-makers face, and the costs involved in frequently reversing the direction of interest-rate changes.
Download or read book The Implementation of Monetary Policy in Industrial Countries written by C. E. V. Borio and published by . This book was released on 1997 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Bank for International Settlements (BIS) presents the full text of the July 1997 paper entitled "Implementation of Monetary Policy in Industrial Countries: A Survey," written by Claudio E.V. Borio. The text is available in PDF format. Borio notes similarities and differences across countries in regards to monetary policy implementation procedures.
Download or read book Monetary Policy in Australia written by Kevin T. Davis and published by Melbourne, Australia : Longman Cheshire. This book was released on 1980 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Australia written by International Monetary Fund and published by International Monetary Fund. This book was released on 1998-11-20 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: Australia's recent economic performance has been impressive. It has experienced steady growth since the early 1990s and inflation has averaged just 2 percent over the same period. This strong showing marks a departure from the performance of the postwar years, when falling productivity and rising inflation caused Australia's per capita income to slip from one of the highest among OECD countries to merely average. This economic turnaround is explored in this book edited by Anoop Singh, Josh Felman, Ray Brooks, Tim Callen, and Christian Thimann of the Asia and Pacific Department.
Download or read book Conquering Fear of Floating written by Li Cui and published by International Monetary Fund. This book was released on 2007-07-01 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Australia has enjoyed fifteen years of uninterrupted economic expansion since 1992 despite shocks such as the Asian crisis in 1997-98 and the information technology bust in 2000-01. This resilient economic performance owes much to wide-ranging structural reforms and the improved frameworks for monetary and fiscal policies that were implemented after the Australian dollar was floated in 1983. In addition to gaining the expected macroeconomic benefits from exchange rate flexibility, the float appeared to help motivate and facilitate the subsequent reforms. Australia's experience with adapting to a floating currency may therefore be of broader interest.
Download or read book Implementation of Monetary Policy in Australia written by Katherine J. Avram and published by . This book was released on 1993 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetary Policy in Australia written by Peter J. Stemp and published by . This book was released on 1990 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A New Keynesian Perspective of Monetary Policy Implementation in Australia written by Shawn Leu and published by . This book was released on 2004 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetary Policy and Its Application to Australia written by Douglas Berry Copland and published by . This book was released on 1926 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Asymmetric Monetary Policy in Australia written by Shawn Chen-Yu Leu and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We find evidence for asymmetric behaviour in Australian monetary policy. During 1984-1990, the Reserve Bank of Australia acted with considerable discretion yielding poor performance of an interest rate rule. However, it behaved asymmetrically to inflation and the output gap in downturns and upturns. On embracing inflation targeting from 1991, it enhanced its credibility by anchoring inflation expectations. Not only did its actions become more predictable in 1991-2002, it responded asymmetrically only to output, switching to act more acutely in downturns. Although its asymmetric behaviour could result from asymmetric preferences or non-linear aggregate supply, our results support the former explanation.
Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Download or read book The Relative Effectiveness of Fiscal and Monetary Policy on Inflation and Unemployment written by Kui Yin Cheung and published by . This book was released on 1993 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetary Policy Surprises and the Bank Bill Term Premium written by Kathleen D. Walsh and published by . This book was released on 2011 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Has Australia's shift to an inflation-targeting monetary policy regime had a significant impact on investors' perception of the interest rate risks in the market' Using a GMM estimation approach, we analyse the impact of Australian monetary policy adjustments on the 180-day and 30-day bank bill term premium throughout the period of 1985 to 2005, and find that since 1990, unanticipated adjustments to monetary policy have had a significantly larger impact on the term premium. This coincides with Australia's adoption of an inflation-targeting monetary policy framework. Since its implementation, unanticipated adjustments to monetary policy have conveyed more information to financial markets regarding the interest rate risks in the economy. This new information is immediately assessed and accounted for in the term structure, consequently influencing the term premium in the direction of the unanticipated cash rate adjustment.
Download or read book A New Keynesian Perspective of Monetary Policy Implementation in Australia written by Shawn Chen-Yu Leu and published by . This book was released on 2006 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Exchange Rate Target Zones and the Conduct of Monetary Policy written by L. I. Hogan and published by . This book was released on 1987 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book International Dimensions of Monetary Policy written by Jordi Galí and published by University of Chicago Press. This book was released on 2010-03-15 with total page 663 pages. Available in PDF, EPUB and Kindle. Book excerpt: United States monetary policy has traditionally been modeled under the assumption that the domestic economy is immune to international factors and exogenous shocks. Such an assumption is increasingly unrealistic in the age of integrated capital markets, tightened links between national economies, and reduced trading costs. International Dimensions of Monetary Policy brings together fresh research to address the repercussions of the continuing evolution toward globalization for the conduct of monetary policy. In this comprehensive book, the authors examine the real and potential effects of increased openness and exposure to international economic dynamics from a variety of perspectives. Their findings reveal that central banks continue to influence decisively domestic economic outcomes—even inflation—suggesting that international factors may have a limited role in national performance. International Dimensions of Monetary Policy will lead the way in analyzing monetary policy measures in complex economies.
Download or read book Banking Stock Returns and Their Relationship to Interest Rates and Exchange Rates written by John L. Simpson and published by . This book was released on 2010 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banks in Australia, as agents of the Central Bank, are key players in the implementation of exchange rate and monetary policies. The purpose of this study is to examine dynamic interactions among, and the long-term equilibrium relationships between, bank stock returns and the key macroeconomic and monetary policy variables in interest rates and exchange rates. The concern is whether or not current economic indicators, as reflected in interest rates and exchange rates, can explain banking stock market returns or vice versa. The statistical models used include regression models, cointegration tests and Granger causality tests from vector autoregressive models. The study finds no evidence that Australia's bank stock market returns form a cointegrating relationship with short- and long-term interest rates and exchange rates over the period of study and thus conclusions may not be drawn relating to long-term rational expectations in the Australian banking market. Evidence is presented that causality runs from bank stock returns to interest rates and exchange rates. This indicates that Australian monetary authorities, over the past decade, appear to have placed strong reliance on the health and performance of the banking and financial sector as they formulate monetary and exchange rate policy settings.
