This contribution analyses the performance of the Hard Currency Strategy (HCS) which was the centre-piece of Papua New Guinea's post-independence macro-economic stabilization policies. The main aims of the HCS were the maintenance of the convertibility and the purchasing power of the domestic...

This paper analyzes the performance of the Hard Currency Strategy (HCS) which was the centerpiece of Papua New Guinea's (PNG's) post-independence macroeconomic stabilization policies. The main aims of the HCS were the maintenance of the convertibility and the purchasing power of the domestic...

This study reviews the rationale and mechanics of exchange rate intervention by the Reserve Bank of Australia (RBA) during the post-float period 1983Q4-1993Q2. The paper discusses the various channels through RBA intervenes leading to the level of exchange rate outcomes. The salient features of...