The RBA (Reserve Bank of Australia) Review 2023: A missed opportunity

IF 1.5 3区经济学 Q2 ECONOMICS

Economic and Labour Relations Review Pub Date : 2023-10-05 DOI:10.1017/elr.2023.39

John Quiggin

引用次数: 0

Abstract

Abstract The 2022–2023 review of the Reserve Bank of Australia, published in March 2023, was a missed opportunity to reconsider the currently dominant framework for monetary policy. This framework, based on strong central bank independence and reliance on adjustments to central bank interest rates to achieve a 2–3% inflation target, has performed poorly at a global level and is no longer sustainable. A new framework, accepting a higher average rate of inflation and taking explicit account of the objectives of full employment and economic prosperity, is needed.

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澳大利亚央行2023年评估报告:错失良机

澳大利亚储备银行(Reserve Bank of Australia)于2023年3月发布的《2022-2023年评估报告》错失了重新考虑当前占主导地位的货币政策框架的机会。这一框架建立在强大的中央银行独立性和依靠调整中央银行利率来实现2-3%的通胀目标的基础上，在全球范围内表现不佳，不再可持续。需要一个新的框架，接受更高的平均通货膨胀率，并明确考虑到充分就业和经济繁荣的目标。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Economic and Labour Relations Review Multiple-

CiteScore

4.60

自引率

8.00%

发文量

期刊介绍： The Economic & Labour Relations Review is a double-blind, peer-reviewed journal that aims to bring together research in economics and labour relations in a multi-disciplinary approach to policy questions. The journal encourages articles that critically assess dominant orthodoxies, as well as alternative models, thereby facilitating informed debate. The journal particularly encourages articles that adopt a post-Keynesian (heterodox) approach to economics, or that explore rights-, equality- or justice-based approaches to labour relations and social policy.