Regional monetary policy : an Australian perspective

Auteur(s) et Affiliation(s)

FRASER, P.

Dept. of Finance, School of Economics and Finance, Curtin Univ. of Technology, Perth, Australie

MACDONALD, G.A.

Dept. of Econometrics and Quantitative Modeling, School of Economics and Finance, Curtin Business School, Curtin Univ. of Technology, Perth, Australie

MULLINEUX, A.W.

Birmingham Business School, Univ., Birmingham, Royaume-Uni

Description :
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.

Type de document :
Article de périodique

Source :
Regional studies, issn : 0034-3404, 2014, vol. 48, n°. 8, p. 1419-1433, nombre de pages : 15, Références bibliographiques : 1 p.

Date :
2014

Editeur :
Pays édition : Royaume-Uni, Cambridge, Cambridge University Press

Langue :
Anglais