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Asymmetric monetary policy in Australia

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posted on 29.03.2022, 01:09 authored by Shangnian Jiang
This theis investigates possible asymmetric responses in the conduct of the Australian monetary policy in the face of economic expansions and contractions. We use both a Linex function and a threshold quadratic function to characterize these asymmetries, and the parameters are estimated by the generalized method of moments (GMM). Our empirical results confirm that the Reserve Bank of Australia (RBA) has asymmetric preferences. In particular, the RBA appears to place a greater weight on stabilizing ouput during contractions than in expansions.

History

Table of Contents

Chapter One. Introduction -- Chapter Two. Literature review -- Chapter Three. Theoretical model -- Chapter Four. GMM estimation procedure -- Chapter Five. Data -- Chapter Six. Empirical results -- Chapter Seven. Robustness -- Chapter Eight. Conclusions.

Notes

Bibliography: pages 45-49 Empirical thesis.

Awarding Institution

Macquarie University

Degree Type

Thesis MRes

Degree

MRes, Macquarie University, Faculty of Business and Economics

Year of Award

2014

Principal Supervisor

Shuping Shi

Additional Supervisor 1

Ben Zhe Wang

Rights

Copyright Shangnian Jang 2014. Copyright disclaimer: http://mq.edu.au/library/copyright

Language

English

Jurisdiction

Australia

Extent

1 online resource (53 pages)

Former Identifiers

mq:69719 http://hdl.handle.net/1959.14/1257073