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Challenging the intellectual climate of the times: why the Reserve Bank of Australia is too independent?

Eichbaum, Christopher John


This paper explores the exceptional nature of Australia's central banking arrangements and in so doing attempts to answer the following question: Why do Australia's central bankers, quite contrary to what happens in virtually every other country, argue against a single inflationary target and, instead, prefer the Reserve Bank's existing charter stating a broad range of objectives?

CollectionsANU Research Publications
Date published: 1993-01
Type: Working/Technical Paper


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