THE AUSTRALIAN NATIONAL UNIVERSITY WORKING PAPERS IN ECONOMICS AND ECONOMETRICS Credit Channel and Risk-Based Capital Adequacy Requirements

THE AUSTRALIAN NATIONAL UNIVERSITY WORKING PAPERS IN ECONOMICS AND ECONOMETRICS Background Risk in Generalized Expected Utility Theory

THE AUSTRALIAN NATIONAL UNIVERSITY WORKING PAPERS IN ECONOMICS AND ECONOMETRICS Costs of Adjustment to Climate Change

We thank Nancy Wallace for helpful comments and criticism.

THE AUSTRALIAN NATIONAL UNIVERSITY WORKING PAPERS IN ECONOMICS AND ECONOMETRICS The Crisis and Economic Change in China*

During the Asian crisis, China’s healthy reserves and low debt made possible the avoidance of a “country run”. Nonetheless, it did experience an apparently autonomous rise in private savings, a rise in capital outflow and a slowdown in growth. This paper employs global general equilibrium analysis to examine the relative contributions of external and internal shocks in China during the crisis. ...

THE AUSTRALIAN NATIONAL UNIVERSITY WORKING PAPERS IN ECONOMICS AND ECONOMETRICS Is the Lending Channel of Monetary Policy Important in Australia?

A long standing macroeconomic issue is how monetary policy a ects the real economy The lending view is that tight money a ects aggregate demand by shifting the supply schedule left in the bank loan market Previous studies have found that loans contract following tight money It is not clear whether the nancial contraction re ects a shift of the supply schedule or the demand schedule in the loan ...

THE AUSTRALIAN NATIONAL UNIVERSITY WORKING PAPERS IN ECONOMICS AND ECONOMETRICS Is the Lending Channel of Monetary Policy Dominant in Australia? (Revised)

Abstract A long-standing macroeconomic issue is how monetary policy affects the real economy. The lending view is that tight money affects aggregate demand by shifting the supply schedule left in the bank loan market. Previous studies have found that loans contract following tight money. It is not clear whether the financial contraction reflects a shift of the supply schedule or the demand sche...