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On the differential impact of monetary policy across states/territories and its determinants in Australia: Evidence and new methodology from a small open economy

journal contribution
posted on 2023-05-18, 04:24 authored by Joaquin VespignaniJoaquin Vespignani
Monetary shocks largely affect economic activity in Western Australia. In smaller proportion, those shocks generate contractions in New South Wales, Victoria and South Australia, while economic activity in Queensland is significantly less affected. Finally, we develop a new approach to uncover the determinants of the differential state/territory responses to monetary shocks. Our estimation validates the theoretical assumptions that differences in industrial composition, exposure to international trade and household debt across states/territories are important determinants of these differences.

History

Publication title

Journal of International Financial Markets, Institutions and Money

Volume

34

Pagination

1-13

ISSN

1042-4431

Department/School

College Office - College of Business and Economics

Publisher

Elsevier BV

Place of publication

Netherlands

Rights statement

Copyright 2014 Elsevier B.V.

Repository Status

  • Restricted

Socio-economic Objectives

Macroeconomics not elsewhere classified

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