This paper examines how monetary policy affects housing prices across local areas. It also explores three related questions - How differently do housing prices respond to monetary policy across areas? What can explain these differences across areas? Does monetary policy cause changes in the housing wealth distribution?

Identifying the causal effect of monetary policy on inflation remains a challenge. Researchers frequently find evidence of a ‘price puzzle’: increases in the policy rate are followed by higher rather than lower inflation.

This analysis suggests that while some aspects of monetary policy in China are beginning to resemble those observed in advanced economies, convergence is neither likely nor even desired by the authorities, given China's institutional configuration and preferred model of economic development.

This report examines the US dollar’s global role and its implications for Australia. The report looks at the dollar’s global pre-eminence and how this has increased over time. It also examines the role of the US dollar as a “reserve asset”, arguing that this reserve asset function is a symptom and not a cause of...

This paper argues that monetary policy in Australia is no longer effective and the task of stimulating the economy should be taken up by more active fiscal policy leadership from the Australian government.