The role of credit in the Australian macroeconomy : theories and evidence

Graham, Peter. (1993). The role of credit in the Australian macroeconomy : theories and evidence Honours Thesis, School of Economics, The University of Queensland.

       
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Author Graham, Peter.
Thesis Title The role of credit in the Australian macroeconomy : theories and evidence
School, Centre or Institute School of Economics
Institution The University of Queensland
Publication date 1993
Thesis type Honours Thesis
Total pages 112
Language eng
Subjects 14 Economics
Formatted abstract Recently, a debate has resurfaced in economic literature on whether and how credit markets affect aggregate economic activity. Specifically, the debate has centred on the transmission mechanism of monetary policy. That is, by what channels do monetary policy affect real economic activity. This paper reviews the literature surrounding the role of financial intermediaries in the macroeconomy. The paper examines what some economists call the New Credit View. The arguments and evidence relating to this literature are reviewed and some evidence presented in an attempt to identify the existence of a credit channel using Australian data. Although the evidence presented is consistent with that of a credit channel, no firm conclusions can be drawn without further research.

 
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Created: Tue, 30 Nov 2010, 10:09:55 EST by Muhammad Noman Ali on behalf of The University of Queensland Library