Regional monetary policy: An Australian perspective
Access Status
Authors
Date
2012Type
Metadata
Show full item recordCitation
Source Title
ISSN
Collection
Abstract
A structural vector autoregressive (SVAR) model for Australia is utilized to identify the domestic impacts of common monetary policy shocks on national and state business cycles and to consider the role of state diversification disparities for observed differences in responses to monetary policy innovations. Western Australia and Queensland differ to other states in their response to common shocks and evidence suggests this may be due to differences in their economic geographies. Overall, the Australian monetary union has become increasingly reliant on fiscal transfers particularly from Western Australia in the past two decades. This emphasizes the importance of a political union underpinning a successful monetary union.
Related items
Showing items related by title, author, creator and subject.
-
Xiao, Q.; Cao, H.; He, Y.; Oxley, Leslie (2025)As global uncertainty rises and inflationary pressures increase, understanding the transmission mechanisms through which monetary policy affects the economy is crucial for formulating policies that promote economic growth ...
-
Smales, Lee; Apergis, N. (2016)This paper provides new empirical evidence on a monetary policy committee with heterogeneous members whose decisions affect the efficacy of monetary policy. It thereby provides a link between the literature on monetary ...
-
Philip, Abey (2012)Macro economist over the years have camped their argument on the tradeoff between inflation and unemployment on an economy. As monetary announcement of an economy has an important influence on both inflation and unemployment, ...