Resumen

BELL, Stephen. Testing the Golden Straightjacket: The Domestic Sources of Monetary Policy in Australia.Traducido porFelipe León Blanco. Inv. Econ [online]. 2006, vol.65, n.256, pp.13-43. ISSN 0185-1667.

The argument that global financial markets impose a “golden straightjacket” consisting of tight macroeconomic policies is tested in relation to monetary policy in Australia. In contrast to the standard arguments from globalisation and policy constraints theorists it is argued that the monetary authorites in Australia have been able to carve out a relatively distinctive approach to policy that has pushed the growth envolope. It is thus argued, at least from this case, that the neoliberal policy constraints argument should not deter innovations in domestic policy choice.

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