The Conversation

In a world of low rates, what else can the RBA and central banks do?

Author: Remy Davison, Jean Monnet Chair in Politics and Economics, Monash University

The world still needs the central banks to bail us out of trouble but the impact of monetary policy is complicated in a world of zero or near-zero interest-rate policy (ZIRP) and negative interest-rate policy (NIRP).

Money presents us with three alternatives: we can spend it, save it or invest it. Most households and governments do the first;...

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