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The Industrial Impact of Monetary Shocks During the Inflation-Targeting Era in Australia
Citation
Vespignani, J, The Industrial Impact of Monetary Shocks During the Inflation-Targeting Era in Australia, Australian Economic History Review, 53, (1) pp. 47-71. ISSN 0004-8992 (2013) [Refereed Article]
Copyright Statement
Copyright 2013 The Author
DOI: doi:10.1111/j.1467-8446.2013.00358.x
Abstract
In this article, we analyse the industrial impacts of monetary shocks since the introduction of inflation targeting in Australia in 1990. These impacts are quantified by constructing a structural vector autogregressive model for a small open economy. Our results show that construction and manufacturing industries exhibit a significant reduction in gross value added after an unanticipated rise in the official cash rate. However, the finance and insurance industry, and the mining industry, seem to be unaffected by these shocks.
Item Details
| Item Type: | Refereed Article |
|---|---|
| Keywords: | industrial composition and VAR model, industrial response, monetary shocks |
| Research Division: | Economics |
| Research Group: | Applied economics |
| Research Field: | Financial economics |
| Objective Division: | Economic Framework |
| Objective Group: | Macroeconomics |
| Objective Field: | Monetary policy |
| UTAS Author: | Vespignani, J (Associate Professor Joaquin Vespignani) |
| ID Code: | 85016 |
| Year Published: | 2013 |
| Web of Science® Times Cited: | 9 |
| Deposited By: | Economics and Finance |
| Deposited On: | 2013-06-11 |
| Last Modified: | 2014-04-09 |
| Downloads: | 0 |
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