Skip to main content
Aerial view of a city
Research_

Global perspectives on economic policy

Pluralistic, international, policy focused
We explore economic policy from an evidence-based, global perspective. By investigating how macroeconomic and trade policies impact open economies, we focus on relevant settings for Australia and the Asia-Pacific region.

The policy challenges and options available to policymakers in open economies such as Australia’s are very different to those in the United States or Europe, which have been the typical focus of most economic policy analysis.

Central banks and fiscal authorities in open economies have to take full account of how their policies interact with exchange rates, international capital flows and trade flows. At the same time, openness leads to opportunities such as lower costs of finance and greater possibilities for addressing intergenerational inequalities through sovereign wealth funds.

Our research involves interaction and collaboration with policymakers throughout the Asia-Pacific region and elsewhere to develop useful models for economic policy analysis from a global perspective.

Dr Yunjong Eo

Dr Christopher Gibbs

Dr Christian Gillitzer

Dr Stella Huangfu

Associate Professor David Kim

Dr Denny Lie

Dr Ye Lu

Emeritus Professor Adrian Pagan

Professor John Romalis

Dr Aarti Singh

Dr Vladimir Tyazhelnikov

Research Assistants

Angela Jiang

Tristan Truuvert

Our podcasts

Listen to our podcasts exploring important perspectives on global economic policy.

Guest

Nigel McClung is a Research Economist in the Research Unit of the Bank of Finland. He was awarded a PhD in Economics at the University of Oregon in 2018, and joined the Bank of Finland in the same year. His main research interests include adaptive learning, monetary-fiscal policy interactions and non-linear DSGE models.

Hosts
  • Professor Mariano Kulish, Professor of Macroeconomics, The University of Sydney
  • Dr Christopher Gibbs, Senior Lecturer, The University of Sydney; Economic Research Advisor, Reserve Bank of Australia
  • Dr Ye Lu, Lecturer, The University of Sydney
About the podcast

What should students know before applying for a PhD in economics? Do you have to get a PhD in the United States if your goal is to work in Australia? In this podcast, Nigel McClung, a recent PhD graduate and a research economist at the Bank of Finland, shares his experiences from applying for a PhD to navigating the job market and what it's like to work in the Bank of Finland. The speakers in this podcast, with their diverse backgrounds (three countries, varying levels of maths preparation before grad school, different research interests etc.) make for a rich and inspiring discussion relevant for students and young professionals alike.

Listen to the podcast.

More information

Guest

Dr Galina Hale has been a Research Advisor at the Federal Reserve Bank of San Francisco since 2006. Prior to this she was an Assistant Professor in the Economics Department at Yale University. She received her PhD in economics in 2002 from the University of California, Berkeley. Dr Hale specialises in international finance, international banking, and capital flows. She is an Associate Editor of the Journal of International Economics.

Hosts
  • Professor Mariano Kulish, The University of Sydney
  • Professor James Morley, The University of Sydney
  • Dr Stella Huangfu, The University of Sydney
About the podcast

What is the role of economic research in policy institutions? Having worked for the Federal Reserve Bank of San Francisco for more than 13 years, Galina Hale shares her insights into the cross-fertilisation between research and policy work. She discusses the use of economic research in the conduct of policy, having been at the Fed during the global financial crisis, the sources of the European sovereign debt crisis and the future of the euro, Brexit, and other issues at the nexus of macroeconomics and international finance.

Listen to the podcast.

More information
Guest

Dr Junior Maih is a Senior Adviser at the Norges Bank and adjunct Associate Professor at the BI Norwegian Business School. His recent work has focused on DSGE models with regime switching. Aside from his research in macroeconomics, Dr Maih also regularly contributes to development of the modelling software Dynare.

Hosts
  • Professor Mariano Kulish, The University of Sydney
  • Professor James Morley, The University of Sydney
  • Dr Yunjong Eo, The University of Sydney
About the podcast

How can we model for a change in the behaviour of economic agents over time? Dr Junior Maih discusses how the development of models with regime switching has the potential to assist our understanding of macroeconomics and improve forecasting over standard constant parameter models. He also outlines some of the modelling pitfalls researchers may face, and highlights the increasing importance of software as part of the economist's toolkit.

Listen to the podcast.

More information
Guest

Gianni Amisano is Chief of the Current Macroeconomic Conditions Section of the Research and Statistics Division of the Board of Governors of the Federal Reserve System. He is also a senior fellow at the Rimini Centre for Economic Analysis.

Amisano's main research interests include Bayesian inferential techniques, financial time series models, structural VAR models, mixture models and their applications, econometric forecasting, time varying parameter models, panel data, and estimation of DSGE models.

Disclaimer: All views expressed by Gianni Amisano are his only and do not necessarily represent the views of the Federal Reserve System.

Hosts
  • Professor Mariano Kulish, Professor of Macroeconomics, The University of Sydney
  • Professor James Morley, Professor of Macroeconomics, The University of Sydney
  • Dr Christopher Gibbs, Senior Lecturer, The University of Sydney; Economic Research Adviser, Reserve Bank of Australia
About the podcast

How do a machine and human intelligence differ when they make economic forecasts? What are the key strengths and weaknesses in the macroeconomic models the Fed uses today? Gianni Amisano, Chief of the Current Macroeconomic Conditions Section at the Federal Reserve Board, explains how the right balance between humans and machine depends on, among other things, whether we want point or density forecasts, the specific uncertainty we face, and how quickly we need to update our beliefs. He also offers insights into the usefulness of the "rational expectations" assumption and the merits of incorporating financial frictions into macroeconomic models.

Listen to the podcast.

More information

Current Macroeconomic Conditions, Federal Reserve Bank, United States

Data and indicators, Federal Reserve Bank of New York.

Past events

Find out more about our activities.

Wednesday 31 July 2019

Eli Remolona is the former Regional Head for Asia of the Bank for International Settlements and current Visiting Professor at Williams College’s Center for Economic Development. He is the world-leading expert on how financial markets respond to information released by policymakers. His public lecture explores how to improve central bank communication.

Find out more.

Tuesday 8 October 2019

A public lecture by Dr Perry Warjiyo, Governor of Bank Indonesia, followed by a Q&A moderated by Dr Luci Ellis, Assistant Governor (Economic) at the Reserve Bank of Australia.

During the global financial crisis of 2008, several central banks, being aware of the conditions that new global economic conjuncture necessitated, decided to modify their existing monetary policy framework by enhancing other policies such as macroprudential policy, exchange rate policy, capital-flows management, fiscal policy coordination and structural adjustment stimulus. This policy is now called policy mix – its approach is preserving the main objective of achieving and maintaining price stability while safeguarding financial stability as a supporting objective.

Find out more.

Contact us

Address
  • Faculty of Arts and Social Sciences The Quadrangle A14, the University of Sydney NSW 2006, AUSTRALIA

Co-director

Headshot of Professor James Morley
Professor James Morley
View academic profile

Co-director

Headshot of Professor Mariano Kulish
Professor Mariano Kulish
View academic profile