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Viewing report
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Exchange Rate Management and Monetary Policy in
Australia. Edition No. 1
VDM Publishing House, Sep 2008, Pages: 176
In the last twenty years, the exchange rate systems
and monetary policy in Australia have undergone
through several facelifts. After the fixed exchange
rate to the U.S. dollar during the Bretton Woods
period and a number of quasi-fixed regimes that
followed, Australia floated its currency in December
1983. Under the flexible exchange rate system,
monetary targeting and the checklist approach both
failed to bring down high inflation in the 1980s.
After a successful disinflationary episode, the
Reserve Bank of Australia adopted inflation
targeting. This book examines the Australian
exchange rate and monetary policies in terms of the
effects and their interactions with the economy in
three aspects: (1) the level of exchange rate
management given that the regime is not a purely
clean float; (2) the channels of monetary policy
transmission mechanisms; and (3) asymmetry in the
monetary policy-making decisions. This book should
be useful to professionals and academics in the
fields of applied macroeconomics that are interested
in the evolution of monetary policy in Australia.
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