Reserve Bank of Australia being reviewed after big mistakes w/ Peter Tulip - EP149

<p>The Reserve Bank of Australia has allegedly made some bad calls in recent years and now the Australian Treasurer has commissioned a major review. This episode’s guest, Dr Peter Tulip of the Centre for Independent Studies, has long pushed for a review of the RBA. Peter, a former RBA and US Fed economist, thinks the RBA can learn from other central banks such as the Fed and Sweden’s Riksbank, and it can avoid future bad policy decisions which cost hundreds of thousands of jobs. </p><h3>About this episode’s guest - Dr Peter Tulip</h3><p><a href="http://petertulip.com/" target="_blank">Peter Tulip</a> is the Chief Economist at the Centre for Independent Studies, a leading Australian think tank. Peter has previously worked in the Research Department of the Reserve Bank of Australia and, before that, at the US Federal Reserve Board of Governors. He has a PhD from the University of Pennsylvania.</p><p>Peter’s twitter handle: @peter_tulip </p><h3>Links relevant to the conversation</h3><p>Peter’s previous appearance on Economics Explored:</p><p><a href="https://economicsexplored.com/2022/04/11/the-high-cost-of-housing-and-what-to-do-about-it-w-peter-tulip-cis-ep134/" target="_blank">https://economicsexplored.com/2022/04/11/the-high-cost-of-housing-and-what-to-do-about-it-w-peter-tulip-cis-ep134/</a></p><p>Australian Treasurer’s 20 July 2022 announcement of RBA review:</p><p><a href="https://ministers.treasury.gov.au/ministers/jim-chalmers-2022/media-releases/review-reserve-bank" target="_blank">https://ministers.treasury.gov.au/ministers/jim-chalmers-2022/media-releases/review-reserve-bank</a></p><p>Peter’s CIS paper on the RBA:</p><p><a href="https://www.cis.org.au/publication/structural-reform-of-the-reserve-bank-of-australia/" target="_blank">https://www.cis.org.au/publication/structural-reform-of-the-reserve-bank-of-australia/</a></p><p>Kevin Warsh’s review of the Bank of England Monetary Policy Committee:</p><p><a href="https://www.hoover.org/sites/default/files/transparency_and_the_bank_of_englands_monetary_polic