The Commonwealth Bank of Australia
In: The Economic Journal, Band 35, Heft 137, S. 145
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In: The Economic Journal, Band 35, Heft 137, S. 145
In: Australian quarterly: AQ, Band 26, Heft 4, S. 47
ISSN: 1837-1892
In: Agenda: a journal of policy analysis & reform, Band 28, Heft 1, S. 141-158
ISSN: 1447-4735
In: Australian quarterly: AQ, Band 19, Heft 3, S. 122
ISSN: 1837-1892
In: The Australian economic review, Band 37, Heft 4, S. 391-401
ISSN: 1467-8462
AbstractThis article first outlines the dynamics of what appear to be increasingly prevalent cycles of asset price inflation in liberalised financial systems, as well as the difficulties entailed in successful monetary policy responses. The article then analyses the Reserve Bank of Australia's policy responses to recent rises in credit growth and asset price inflation in the property sector. The Bank's responses are characterized in terms of an inflation‐plus targeting framework which has subtly redefined the Bank's approach to inflation targeting to include vaguely defined factors such as mediumterm'risks', as well as extending the time frame of such risk assessment. The article explains why, for a variety of reasons, the Bank has been reticent to fully declare its hand.
In: Australian quarterly: AQ, Band 41, Heft 1, S. 122
ISSN: 1837-1892
In: Labour history: a journal of labour and social history, Heft 16, S. 65
ISSN: 1839-3039
In: Australian quarterly: AQ, Band 34, Heft 1, S. 113
ISSN: 1837-1892
This paper applies nonlinear econometric models to empirically investigate the effectiveness of the Reserve Bank of Australia (RBA) exchange rate policy. First, results from a STARTZ model are provided revealing nonlinear mean reversion of the Australian dollar exchange rate in the sense that mean reversion increases with the degree of exchange rate misalignment. Second, a STR-GARCH model suggests that RBA interventions account for this result by strengthening foreign exchange traders' confidence in fundamental analysis. This in line with the so-called coordination channel of intervention effectiveness.
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