James Morley is Professor of Macroeconomics at the University of Sydney and Co-Director of the "Global Perspectives on Economic Policy" initiative for the Faculty of Arts & Social Sciences. He is a Fellow of the International Association for Applied Econometrics and Co-Editor of The Economic Record. His research is on the empirical analysis of business cycles, stabilization policy, and sources of persistent changes in macroeconomic and financial conditions.
The RBA faces an unprecedented challenge in trying to address a global recession with its main policy interest rate at the effective lower bound and the Australian economy now undergoing its first episode of year-on-year deflation in decades. Continue reading »