RBA Annual Conference – 2022 The Causes, Challenges and Consequences of the Low Interest Rate Environment
Sydney,

The Reserve Bank of Australia's 2022 annual conference brought together senior central bankers, financial institutions and advisers, academics and industry to discuss the current, policy-relevant issue of the causes, challenges and consequences of the low interest rate environment. It canvassed the possible responses including objectives, instruments and the framework for monetary policy. Importantly, the conference also considered the interactions between the main economic policy institutions.
The Conference was conducted under the Chatham House rule.
Papers
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Overview
Section One: Scene Setting and Causes
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Fiscal, Monetary and Macroprudential Regimes: Incentives-Values Compatibility in Constitutional Democracies
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Discussant: Bruce Preston, University of Melbourne
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General discussion
Section Two: Challenges
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The Consequences of Low Interest Rates for the Australian Banking Sector
(presentation) 1.13MB -
Discussant: Adam Richardson, Reserve Bank of New Zealand
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General discussion
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The Economics of Low Interest Rates (presentation)
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Discussant: Gianni La Cava, e61
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General discussion
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Monetary and Fiscal Institutional Arrangements: Have We Got Them Backwards? (presentation)
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Discussant: Chris Edmond, University of Melbourne
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General discussion
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Measuring Global Interest Rate Comovements with Implications for Monetary Policy Interdependence
(presentation) 1.13MB -
Discussant: Alexandra Heath, Reserve Bank of Australia
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General discussion
Section Three: Consequences
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Gazing at r*: A Hysteresis Perspective
(presentation) 1.04MB -
Discussant: Michele Bullock, Reserve Bank of Australia
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General discussion
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Rates Normalization Amid Elevated Global Financial Vulnerabilities
(presentation) 4.82MB -
Discussant: Warwick McKibbin, Australian National University
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General discussion
Section Four: Panel Discussion
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Wrap-up Panel Discussion
Contributors and Participants
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Biographies of Presenters
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List of Participants