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Output Composition of the Monetary Policy Transmission Mechanism: Is Australia Different?

Phan, Tuan


This article compares the output composition of the monetary policy transmission mechanism in Australia to that for the Euro area and the USA. Four vector autoregressive (VAR) models are used to estimate the contributions of private consumption and investment to output reactions resulting from nominal interest rate shocks for the period 1982Q3-2007Q4. The results suggest that the investment channel plays a more important role than the consumption channel in Australia, while the contributions of...[Show more]

CollectionsANU Research Publications
Date published: 2014
Type: Journal article
Source: Economic Record
DOI: 10.1111/1475-4932.12121
Access Rights: Open Access


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