Exchange Rate Management and Monetary Policy in Australia: An Examination of the Post-Float Era - Softcover

Inhaltsangabe

In the last twenty years, the exchange rate systemsand monetary policy in Australia have undergonethrough several facelifts. After the fixed exchangerate to the U.S. dollar during the Bretton Woodsperiod and a number of quasi-fixed regimes thatfollowed, Australia floated its currency in December1983. Under the flexible exchange rate system,monetary targeting and the checklist approach bothfailed to bring down high inflation in the 1980s.After a successful disinflationary episode, theReserve Bank of Australia adopted inflationtargeting. This book examines the Australianexchange rate and monetary policies in terms of theeffects and their interactions with the economy inthree aspects: (1) the level of exchange ratemanagement given that the regime is not a purelyclean float; (2) the channels of monetary policytransmission mechanisms; and (3) asymmetry in themonetary policy-making decisions. This book shouldbe useful to professionals and academics in thefields of applied macroeconomics that are interestedin the evolution of monetary policy in Australia.

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