RBA Annual Conference – 2025 Monetary and Fiscal Policy Interactions
Sydney,
The Reserve Bank of Australia’s Annual Research Conference, this year organised jointly with Treasury, brought together economists from think tanks, public sector, academia, and various other central banks and international institutions to discuss the interactions between monetary and fiscal policies. This included the distributional implications of monetary and fiscal policies, potential constraints on monetary and fiscal policy, and the fiscal implications of unconventional monetary policies. The Conference concluded with a Panel Discussion that considered monetary and fiscal policymaking in practice.
The Conference was conducted under the Chatham House rule.
Papers
Session One: Monetary and Fiscal Interactions Keynote Address
-
Rowing Together: Lessons on Policy Coordination from American History
(presentation) 653KB -
General discussion
Session Two: Distributional Implications of Monetary and Fiscal Policies
-
Fiscal-Monetary Interactions in the 2020’s: Some Insights from HANK Models
(presentation) 1.04MB -
General discussion
-
Progressive Taxation and Monetary Policy in Australia(presentation) 419KB
-
Discussant: Sushant Acharya, University of Melbourne
-
General discussion
-
The Social Insurance Perspective on Fiscal Policy: Implications for Monetary Policy
(presentation) 123KB -
Discussant: Roger Wilkins, Melbourne Institute
-
General discussion
Session Three: Constraints on Monetary and Fiscal Policy
-
Fiscal R-Star: Fiscal-Monetary Tensions and Implications for Policy
(presentation) 1.63MB -
Discussant: Rachael McCririck, Australian Treasury
-
General discussion
-
The Fragility of Government Funding Advantage
(presentation) 9.1MB -
Discussant: Coletta Frenzel Baudisch, Deutsche Bundesbank
-
General discussion
Session Four: Fiscal Implications of Unconventional Monetary Policies
-
Macroeconomic and Fiscal Impacts of Quantitative Easing in New Zealand
(presentation) 2.16MB -
Discussant: Pedro Gomis-Porqueras, Queensland University of Technology
-
General discussion
-
Discussant: Dmitry Titkov, Reserve Bank of Australia
-
General discussion
Session Five: Monetary and Fiscal Policymaking in Practice
-
Panel Discussion
Participants
-
List of Participants