This article compares the output composition of the monetary policy transmission mechanism in Australia to that for the Euro area and the USA. Four vector autoregressive (VAR) models are used to estimate the contributions of private consumption and investment to output reactions resulting from nominal interest rate shocks for the period 1982Q3–2007Q4. The results suggest that the investment channel plays a more important role than the consumption channel in Australia, while the contributions of the two channels are indistinguishable in the Euro area and the USA. The difference between Australia and the Euro area comes from differences in housing investment responses, whereas Australia is different to the USA mainly because it has a lower share of household consumption in total demand.
This paper compares the output composition of the monetary policy transmission mechanism in Australia to those for the Euro area and the United States. Four Vector Autoregressive (VAR) models are used to estimate the contributions of private consumption and investment to output reactions resulting from nominal interest rate shocks for the period 1982Q3-2007Q4. The results suggest that the investment channel plays a more important role than the consumption channel in Australia, while the contributions of the two channels are indistinguishable in the Euro area and the U.S. The difference between Australia and the Euro area comes from differences in housing investment responses, whereas Australia is different to the U.S. mainly because it has a lower share of household consumption in total demand.
Using Vensim PLE, this paper provides a simulation of the illegal coal mining in Quang Ninh province, Vietnam. Examining the three main loops including need for income effect, government enforcement and coal management effects and other effects (illegal density, technology, community and psychological effects), the paper sketches several scenarios under different levels of the key variables. Obtaining these results, the paper suggests a better scene in terms of socio-economic and environmental sustainability basing on the two major components. First, the government authorities should urge the enforcement and revise the coal management. Second, the community should have more active activities to abolish the illegal mining trend and raise effectively warnings about the danger of the illegal mining. Those parallel implementations shall create a surprisingly positive effect on the reduction of illegal coal mining in the province.
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