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Delano P. Villanueva

RECENT EMPIRICAL STUDIES of the demand for money have - applied distributed lag models to specifications of monetary behavior. One such study by Joseph Adekunle 1 focused on the manner in which adaptive expectations affect portfolio behavior. The present paper is a further investigation into the adaptive expectation model of the demand for money.

International Monetary Fund

The Article IV Consultation discusses that recently a commodity price boom, driven by robust global demand, has pushed the Australian economy up against capacity constraints. Banks are adjusting the structure of their funding in response to the turmoil, increasing liquidity, and lengthening the maturity of their funding. Executive Directors considered that the sound macroeconomic framework should permit Australia to weather the global downturn and contain inflationary pressures. They encouraged the authorities to take advantage of the positive macroeconomic performance to advance structural reforms.

International Monetary Fund

The Article IV Consultation discusses that recently a commodity price boom, driven by robust global demand, has pushed the Australian economy up against capacity constraints. Banks are adjusting the structure of their funding in response to the turmoil, increasing liquidity, and lengthening the maturity of their funding. Executive Directors considered that the sound macroeconomic framework should permit Australia to weather the global downturn and contain inflationary pressures. They encouraged the authorities to take advantage of the positive macroeconomic performance to advance structural reforms.

International Monetary Fund. Asia and Pacific Dept

This 2015 Article IV Consultation highlights that the Australia's economy is now facing a large transition as the mining investment boom winds down and the terms of trade has fallen back. Growth has been below trend for two years. Annualized GDP growth was about 2.2 percent in the first half of 2015, with particularly weak final domestic demand, and declining public and private investment. Capacity utilization and a soft labor market point to a sizeable output gap. Nominal wage growth is weak, contributing to low inflation. The FY2015/16 Budget projects a return to surplus in 2019-20.