Luci Ellis: Supporting growth in the short run and the long run

Plenary session address by Ms Luci Ellis, Assistant Governor (Economic) of the Reserve Bank of Australia, to the Melbourne Institute Outlook Conference, Melbourne, 11 October 2018.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
11 October 2018

I'd like to thank the organisers of this conference for inviting me to participate in this session. It is truly an honour to be included in this roster of speakers.

The topic for this session is a broad one: how do we support growth? As the extended form of the topic indicates, there are many considerations that need to be taken into account. In the time available I can only do justice to a few of those considerations. In these opening remarks, I'd like to focus on the issue of the time horizon. The question of how public policy can support growth depends in part on whether we are talking about the short run or the long run.