Regional monetary policy: An Australian perspective
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 inn...
| Main Authors: | , , |
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| Format: | Journal Article |
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Routledge
2012
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| Online Access: | http://hdl.handle.net/20.500.11937/18086 |
| _version_ | 1848749643301650432 |
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| author | Fraser, Patricia MacDonald, Garry Mullineux, Andy |
| author_facet | Fraser, Patricia MacDonald, Garry Mullineux, Andy |
| author_sort | Fraser, Patricia |
| building | Curtin Institutional Repository |
| collection | Online Access |
| 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. |
| first_indexed | 2025-11-14T07:24:12Z |
| format | Journal Article |
| id | curtin-20.500.11937-18086 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T07:24:12Z |
| publishDate | 2012 |
| publisher | Routledge |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-180862019-02-19T04:26:59Z Regional monetary policy: An Australian perspective Fraser, Patricia MacDonald, Garry Mullineux, Andy Australian regions Structural vector autoregressive (SVAR) Non-homogeneous business cycles Fiscal stabilizers Monetary policy 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. 2012 Journal Article http://hdl.handle.net/20.500.11937/18086 10.1080/00343404.2012.714897 Routledge restricted |
| spellingShingle | Australian regions Structural vector autoregressive (SVAR) Non-homogeneous business cycles Fiscal stabilizers Monetary policy Fraser, Patricia MacDonald, Garry Mullineux, Andy Regional monetary policy: An Australian perspective |
| title | Regional monetary policy: An Australian perspective |
| title_full | Regional monetary policy: An Australian perspective |
| title_fullStr | Regional monetary policy: An Australian perspective |
| title_full_unstemmed | Regional monetary policy: An Australian perspective |
| title_short | Regional monetary policy: An Australian perspective |
| title_sort | regional monetary policy: an australian perspective |
| topic | Australian regions Structural vector autoregressive (SVAR) Non-homogeneous business cycles Fiscal stabilizers Monetary policy |
| url | http://hdl.handle.net/20.500.11937/18086 |