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The Industrial Impact of Monetary Shocks during the Inflation Targeting Era in Australia

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Vespignani, JL (2012) The Industrial Impact of Monetary Shocks during the Inflation Targeting Era in Australia. Discussion Paper. University of Tasmania. (Unpublished)

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Abstract

In this article we analyse the industrial impact of monetary shocks since inflation targeting has been introduced in Australia (1990). These impacts are quantified by constructing a structural vector autoregressive (SVAR) model for a small open economy. Our results show that construction and manufacturing industries exhibit a significant reduction in gross value added (GVA) 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 Type: Report (Discussion Paper)
Keywords: repec, Monetary shocks, Industrial response, Industrial composition and VAR model
Publisher: University of Tasmania
Date Deposited: 21 Jan 2013 03:35
Last Modified: 14 Jan 2016 21:48
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