RBA Annual Conference – 2023 Inflation

Sydney,

The Reserve Bank of Australia's annual research conference brought together senior central bankers; economists from think tanks and the public and private sectors; and academics to look at the current inflationary challenge. This included a consideration of the nature and causes of the current inflation, the economic consequences and the policy challenges. The conference concluded with a Panel Discussion that considered the implications of the inflationary experience.

The Conference was conducted under the Chatham House rule.

Papers

Section One: Comparison of Global and Australian Inflation

  • Pandemic-era Inflation Drivers and Global Spillovers
    (presentation) 1.1MB
    Presenter: Muhammed Yildirim, Harvard University
    Download 800KB
  • Discussant: John Romalis, Macquarie University
    (presentation) 540KB
    Download 475KB
  • General discussion
    Download 91KB
  • Inflation and Inequality: How High Inflation is Affecting Different Australian Households
    (presentation) 2MB
    Presenters: Danielle Wood and Iris Chan, Grattan Institute
    Download 2MB
  • Discussant: Cassandra Goldie, Australian Council of Social Service (presentation)
    Download 520KB
  • General discussion
    Download 103KB
  • Decomposing Supply and Demand Driven Inflation
    (presentation) 850KB
    Presenter: Adam Shapiro, Federal Reserve Bank of San Francisco
    Download 1.5MB
  • Discussant: Benjamin Beckers, Reserve Bank of Australia
    (presentation) 545KB
    Download 700KB
  • General discussion
    Download 91KB

Section Two: Economic Consequences

  • Wage-Price Spirals: What Is the Historical Evidence?
    (presentation) 1.5MB
    Presenter: John Bluedorn, International Monetary Fund
    Download 1.2MB
  • Discussant: Iain Ross, Reserve Bank of Australia
    (presentation) 820KB
    Download 1MB
  • General discussion
    Download 98KB
  • Competition, Markups, and Inflation: Evidence from Australian Firm-level Data
    (presentation) 2.20MB
    Presenter: Jonathan Hambur, Reserve Bank of Australia
    Download 1.7MB
  • Discussant: Petr Sedláček, University of New South Wales
    (presentation) 1.3MB
    Download 209KB
  • General discussion
    Download 99KB

Section Three: Policy Consequences

  • Monetary Policy Frameworks Away from the ELB
    (presentation) 3.5MB
    Presenter: Fiorella De Fiore, Bank for International Settlements
    Download 4.27MB
  • Discussant: Penelope Smith, Reserve Bank of Australia (presentation)
    Download 166KB
  • General discussion
    Download 101KB
  • Inflation and Interest Rates
    (paper) 478KB
    (presentation) 13MB
    Presenter: John H Cochrane, Hoover Institution
  • Discussant: Bruce Preston, University of Melbourne
    (presentation) 3.5MB
    Download 150KB
  • General discussion
    Download 92KB

Section Four: Policy Panel

  • Wrap-up Panel Discussion
    Moderator: John Simon, Reserve Bank of Australia
    Panellist: Michele Bullock, Reserve Bank of Australia
    Panellist: Paul Conway, Reserve Bank of New Zealand
    Panellist: Huw Pill, Bank of England
    Download 145KB

Contributors and Participants