Regional Monetary Policy: An Australian Perspective

Andy Mullineux, Pat Fraser, Garry.A. Macdonald

Research output: Contribution to journalArticlepeer-review

10 Citations (Scopus)
24 Downloads (Pure)


Regional monetary policy: an Australian perspective, Regional Studies. A structural vector autoregressive (SVAR) model for Australia is utilized to identify the domestic impacts of common monetary policy shocks on national and state business cycles and to consider the role of state diversification disparities for observed differences in responses to monetary policy innovations. Western Australia and Queensland differ to other states in their response to common shocks and evidence suggests this may be due to differences in their economic geographies. Overall, the Australian monetary union has become increasingly reliant on fiscal transfers particularly from Western Australia in the past two decades. This emphasizes the importance of a political union underpinning a successful monetary union.
Original languageEnglish
Pages (from-to)1419-1433
Number of pages15
JournalRegional Studies
Issue number8
Early online date28 Aug 2012
Publication statusPublished - 2014


  • Australian regions
  • Fiscal stabilizers
  • Monetary policy
  • Non-homogeneous business cycles
  • Structural vector autoregressive (SVAR)

ASJC Scopus subject areas

  • General Social Sciences
  • General Environmental Science


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