I J Macfarlane: What are the global imbalances? Speech by Mr I J Macfarlane, Governor of the Reserve Bank of Australia, at the Economic Society of Australia Dinner, Melbourne, 28 September 2005. *  1.
*  *  Introduction  I have given a number of speeches to the Economic Society over the years, and it is a pleasure to be doing so again tonight. The last time I gave the closing address to the Conference of Economists was in 1997 in Hobart.