RDP 9013: A Select Bibliography of Published Research by the Reserve Bank of Australia : 1969–1990 Research Discussion Papers


1 Norton, W.E. and Broadbent, J.R. Equations for Personal Consumption Expenditure.
2 Norton, W.E. and Sweeny, K.M. A Short Term Employment Function for Australia.
3 Cohen, A.M. and Norton, W.E. Demand Equations for Money.
4 Norton, W.E. and Jackson, G.H. A Demand Equation for Imports.[1]
5 Mackrell, N.C. Equations for Tax Payments in Australia.
6 McLaren, K.R. Equations for Gross Business Fixed Investment.
7 Schott, K.E. An Equation of Average Weekly Earnings.


8 Schott, K.E. and Sweeny, K.M. Price Equations for Australia.
9 Broadbent, J.R. Equations for Australian Exports.
10 Kelly, G.P. and Norton, W.E. Investment in Dwellings : An Econometric Approach.
11 Norton, W.E., Cohen, A.M. and Sweeny, K.M. A Model of the Monetary Sector.[2]
12 Mackrell, N.C., Frisch, J. and Roope, P. Testing Two Theories of Business Fixed Investment.
13 Grandfield, P.D. A Quarterly Model of the Australian Economy.
14 Deane, R.S. A Model of the Market for Australian Government Securities.
15 Macfarlane, I.J. An Equation for Imports of Goods.


16 Stoneman, M.O. Private Dwelling Commencements : An Econometric Study.
17 Macfarlane, I.J. Equations of Exports of Goods.
18 Helliwell, J.F. Quarterly Estimates of Private Sector Wealth.[3]
19 Helliwell, J.F. and Norton, W.E. Prospectus for RBA2.
20 Helliwell, J.F. and Schott, K.E. Some Causes and Consequences of Direct Investment Inflows to Australia.
21 Lightfoot, R.E. Stocks, Expected Sales and Production Flexibility.
22 Hawkins, R.G. Inter-related Factor Demands : A Preliminary Report.
23 Boxall, P.J. and Helliwell, J.F. The Share Market Value of Business Assets, the Supply Price of Capital, and Price Expectations.
24 Kelly, M.R. Price Movements : Causes and Lags.


25 Jonson P.D. Expectations and the Demand for Government Bonds in Australia.
25A Boxall, P.J. Introducing Wealth and the Supply Price of Capital into Consumption Equations.
26 Hawkins, R.G. and Lapham, I. Investment Time Lags.
27 Jonson, P.D. and Mahar K.L. Earnings and Award Wages in Australia.[4]


28 Jonson, P.D. Reaction Functions and Stabilization Policy in Australia : An Objective Analysis.
29 Shaw, P.J. The Portfolio Behaviour of Life Assurance Companies in Australia.
30 Danes, M.K. The Measurement and Explanation of Inflationary Expectations in Australia.[5]
31 Parkin, J.M. The Short-run and Long-run Trade-offs between Inflation and Unemployment in Australia.[6]
32 Cooper, R.J. A Theoretical Intertemporal Choice Model of the Firm.


33 Boxall, P.J. and Carmichael, J. Inflation : Prices and Earnings in Australia.
34 Cox, J.P. and Mackrell, N.C. An Analysis of Econometric Ex-post Forecasting Error.
35 Cooper, R.J. A Theoretical Intertemporal Choice Model of the Household.
36 Mackrell, N.C. Techniques of Short Term Forecasting.


7501 Carmichael, J. and Norman, P.M. The Supply Price of Capital : An Empirical Reformulation and Some Points of Clarification.
7502 Norman, P.M. and Moses, E.R. The Role of Capacity Utilisation in the RBA1/74 Model.
7503 Blundell-Wignall, A. and Carmichael, J. Inflation in Industrial Countries : Two Theoretical Views.
7504 Henderson, J.F. and Norman, P.M. The Equations of the RBA1/74 Model of the Australian Economy.


7601 Jonson, P.D., Moses, E.R. and Wymer, C.R. A Minimal Model of the Australian Economy.


7701 Butlin, M.W. A Preliminary Annual Database 1900/01 to 1973/74.
7702 Jonson, P.D. and Taylor, J.C. Inflation and Economic Stability in a Small Open Economy : A Systems Approach.[7]
7703 Jonson, P.D. and Butlin, M.W. Price and Quantity Responses to Monetary Impulses in a Model of a Small Open Economy.
7704 Laidler, D.E.W. Money and Money-income : An Essay on the ‘Transmission Mechanism’.[8]
7705 Jonson, P.D. and Taylor, J.C. Modelling Monetary Disequilibrium.[9]
7706 Jonson, P.D. and Eberhardt, J.I. Interest Rates and Exchange Rate Expectations in the RBA76 Model.
7707 Jonson, P.D., Rankin, R.W. and Taylor, J.C. Money and the Balance of Payments.


7801 Jonson, P.D. Two Essays in Monetary Economics.
7802 Jonson, P.D., Battellino, R. and Campbell, F. Unemployment : An Econometric Dissection.


7901 Moore, L.A. Estimation and Statistical Evaluation of an Economic Model.
7902 Evans, W.H. Financial Modelling in Australia.
7903 Jonson, P.D. and Trevor, R.G. Monetary Rules : A Preliminary Analysis.[10]
7904 Taylor, J.C. Some Aspects of RBA76 and RBF1.


8001 McKibbin, W.J. Macroeconometric Models of the Australian Economy : A Comparative Analysis.[11]
8002 Carmichael, J. Sub-optimality in a Dynamic Economy with Overlapping Generations.
8003 Carmichael, J. Debt versus Tax Financing of Government Spending : On Barro's Neutrality Theorem.[12]
8004 Carmichael, J. Money, Inflation and Economic Growth : Conditions for Superneutrality.
8005 Carmichael, J. and Hawtrey, K.M. Social Security, Debt Finance, and Savings.[13]
8006 Jonson, P.D., McKibbin, W.J. and Trevor, R.G. Models and Multipliers.
8007 Clements, K.W. and Nguyen, P. Inflation and Relative Prices : the Australian Experience.
8008 Evans, W.H. and Rozenstein, H.A. The Market for Commonwealth Government Securities.[14]
8009 Laidler, D.E.W. Monetarism : An Interpretation and Assessment.
8010 Carmichael, J. and Broadbent, J.S. Inflation-unemployment Trade Offs in an Open Economy : Theory and Evidence for Australia.


8101 Beck, M.A. The Effects of Seasonal Adjustment in Econometric Models.
8101T Butlin, M.W. Overdrafts and Credit Rationing.
8102 Butlin, M.W. Overdraft Lending and Aggregating Demands Subject to Constraint.
8103 Campbell, F. The Labour Market in Australia : A Review.
8104 Jonson, P.D., McKibbin, W.J. and Trevor, R.G. External and Domestic Interactions : A Sensitivity Analysis (Further Results)[15]
8105 Economy-wide Modelling : The Way Ahead. Proceedings of a Symposium Conducted at the 10th Conference of Economists, Australian National University, August 1981.


8201 Kohli, U.R. and McKibbin, W.J. Money, Wealth and Prices : An Empirical Analysis.
8202 Butlin, M.W. and Hawtrey, K.M. The Market for Negotiable Certificates of Deposit in Australia : 1973–1980.
8203 Butlin, M.W. and Ryan, C.J. The Causal Relationship between Money Base and Money Supply in Australia : 1960–1979.
8204 Butlin M.W., Hawtrey, K.M. and Ryan, C.J. An Econometric Model of the Australian Trading Banks : 1974–1980.
8205 Anderson, J.S. Methods of Investigating Causal Relationships between Time Series.


8301 Moses, C.J. Financial Innovations and Monetary Policy : A Preliminary Survey.
8302 Macfarlane, I.J. and Hawkins, J.R. Economic Forecasts and Their Assessment.[16]
8303 Jonson, P.D. and Stevens, G.R. The 1930's and the 1980's : Some Facts.[17]


8401 Fahrer, J.G., Rankin, R.W. and Taylor, J.C. The Equations of the RBA82 Model of the Australian Economy.
8402 Boulton, L.F. and Tease, W.J. Financial Innovation Bibliography.
8403 Fahrer, J.G. and Rankin, R.W. Modelling Recent Developments in Australian Asset Markets : Some Preliminary Results.


8501 Kohli, U.R. and Ryan, C.J. Neoclassical Theory and Australian Business Investment : A Reappraisal.[18]
8502 Meeting on Monetary Issues. Summary of Discussion at an Informal Meeting of Monetary Economists Held at the Reserve Bank of Australia, Sydney, 8 August 1985.


8601 Trevor, R.G. New Classical Models and Unobserved Aggregates.
8602 Trevor, R.G. Short-term Interest Rates, Weekly Money Announcements and Rational Forecasts.
8603 Tease, W.J. Risk Premia, Market Efficiency and the Exchange Rate : Some Evidence since the Float.[19]
8604 Trevor, R.G. and Donald, S.G. Leading Indexes : Do They?
8605 Jonson, P.D. and Rankin, R.W. On Some Recent Developments in Monetary Economics.[20]
8606 Piggott, J.R. The Nation's Wealth : Some New Calculations for Australia.[21]
8607 Tease, W.J. The Expectations Theory of the Term Structure and Short-term Interest Rates in Australia.[22]
8608 Trevor, R.G. and Donald, S.G. Exchange Rate Regimes and the Volatility of Financial Prices : The Australian Case.[23]
8609 Lowe, P.W. and Trevor, R.G. The Performance of Exchange Rate Forecasts.[24]
8610 Trevor, R.G. Equilibrium Exchange Rates and a Popular Model of International Asset Demands : An Inconsistency.
8611 Sheen, J.R. The Effectiveness of Fiscal Policy in an Economy with Anticipatory Wage Contracts.
8612 Sheen, J.R. A Weekly Model of the Floating Australian Dollar.[25]


8701 Stevens, G.R., Thorp, S.J. and Anderson, J.S. The Australian Demand Function for Money : Another Look at Stability.
8702 Dotsey, M. Open Market Operations in Australia : A U.S. Perspective.[26]
8703 Blundell-Wignall, A. and Thorp, S.J. Money Demand, Own Interest Rates and Deregulation.
8704 Carmichael, J. and Dews, N.J. The Role and Consequences of Investment in Recent Australian Economic Growth.[27]
8705 McKibbin, W.J. The Economics of International Policy Coordination.[28]
8706 McKibbin, W.J. Numerical Solution of Rational Expectations Models with and without Strategic Behaviour.
8707 Edey, M.L. Asymmetric Information and Bid-ask Spreads in the Eurocurrency Markets.
8708 Edey, M.L. Risk versus Monetary Effects in the Determination of Short-term Interest Rates.[29]
8709 McKibbin, W.J. and Siegloff, E.S. A Note on Aggregate Investment in Australia.[30]
8710 Edey, M.L., Kerrison, E.J. and Menzies, G.D. Transmission of External Shocks in the RBII Model.
8711 Blundell-Wignall, A. and Thomas, M. Deviations from Purchasing Power Parity : The Australian Case.
8712 McKibbin, W.J. Policy Analysis with the MSG2 Model.[31]
8713 Richards, A.J. and Stevens, G.R. Estimating the Inflationary Effects of Depreciation.


8801 McKibbin, W.J. Time-consistent Policy : A Survey of the Issues.[32]
8802 Trevor, R.G. and Thorp, S.J. VAR Forecasting Models of the Australian Economy : A Preliminary Analysis.[33]
8803 Bullock, M.L., Stevens, G.R. and Thorp, S.J. Do Financial Aggregates Lead Activity? A Preliminary Analysis.
8804 Edey, M.L. and Elliott, G.B. Pricing Behaviour in Australian Financial Futures Markets.
8805 Bullock, M.L., Morris, D.M. and Stevens, G.R. The Relationship between Financial Indicators and Economic Activity : 1968–1987.
8806 Russell, W.R. and Tease, W.J. Employment, Output and Real Wages.[34]
8807 Dews, N.J. The Cost of Capital : Some Issues.
8808 McKibbin, W.J. and Richards, A.J. Consumption and Permanent Income : The Australian Case.
8809 Elliott, G.B. and Kearney, C. The Intertemporal Government Budget Constraint and Tests for Bubbles.
8810 Brennan, P.F. and Milavec, T.N. The Relationship between Actual Investment and Survey-based Expectations.
8811 Morris, D.M. Monetary Transmission in a Deregulated Financial System.
8812 Macfarlane, I.J. International Interest Rate Linkages and Monetary Policy : The Case of Australia.[35]
8813 Genberg, A.H. The Fiscal Deficit and the Current Account : Twins or Distant Relatives?


8901 McKibbin, W.J. The World Economy from 1979 to 1988 : Results from the MSG2 Model.
8902 Edey, M.L. and Elliott, G.B. Option Prices and Implied Volatilities : An Empirical Analysis.
8903 Stevens, G.R. and Thorp, S.J. The Relationship between Financial Indicators and Economic Activity : Some Further Evidence.
8904 Battellino, R. and McMillan, N. Changes in the Behaviour of Banks and Their Implications for Financial Aggregates.
8905 Edey, M.L. Monetary Policy Instruments : A Theoretical Analysis.
8906 Smith, J. and Gruen, D.W.R. A Random Walk around the $A : Expectations, Risk, Interest Rates and Consequences for External Imbalance.
8907 Britten-Jones, M. and McKibbin, W.J. Tax Policy and Housing Investment in Australia.
8908 Macfarlane, I.J. and Tease W.J. Capital Flows and Exchange Rate Determination.
8909 Fahrer, J.G. Optimal Wage Indexation, Monetary Policy and the Exchange Rate Regime.
8910 Horton, T. and Wilkinson, J. An Analysis of the Determinants of Imports.


9001 Fahrer, J.G. Is Pitchford Right? Current Account Adjustment, Exchange Rate Dynamics and Macroeconomic Policy.
9002 McKibbin, W.J. and Morling, S.R. Public Sector Growth and the Current Account in Australia : A Longer Run Perspective.
9003 Tease, W.J. The Balance of Payments in the 1980s.
9004 Edey, M.L. and Britten-Jones, M. Saving and Investment in the 1980s.
9005 Jones, M.T. and Wilkinson, J. Real Exchange Rates and Australian Export Competitiveness.
9006 Fahrer, J.G. Wage Contracts, Sticky Prices and Exchange Rate Volatility : Evidence from Nine Industrial Countries.
9007 Edey, M.L. Operating Objectives for Monetary Policy.
9008 Fahrer, J.G. and Rohling, T. Financial Deregulation and the Monetary Transmission Mechanism.
9009 Fahrer, J.G. and Shori, L.E. An Empirical Model of Australian Interest Rates, Exchange Rates and Monetary Policy.
9010 Boulton, L.F., Dungey, M.H. and Parkin, M.B. Volatility of the Australian Dollar Exchange Rate.
9011 Ryan, C.J. Inflation and Corporate Taxation in Australia.
9012 Willmann, H. Some Calculations on Inflation and Corporate Taxation in Australia.


Published in Economic Record Dec 1969, pp.589–595, with K.M. Sweeny. [1]

An abridged version appeared in Inflation and Unemployment, edited by J.W. Nevile and D.W. Stammer, pp.170–189. Harmondsworth, Middlesex: Penguin, 1972. [2]

Paper revised by J.F. Helliwell and P.J. Boxall and reissued in 1976 as “Private Sector Wealth : Quarterly Estimates for Use in an Aggregate Model”, and published in Economic Record Apr 1978, pp.45–64. [3]

Paper revised by the authors with G.J. Thompson and reissued in 1973. Also published in Australian Economic Papers June 1974, pp.80–98. [4]

Published in Australian Economic Papers June 1975, pp.75–87. [5]

Published in Australian Economic Papers Dec 1973, pp.127–144. [6]

Published in Carnegie-Rochester Conference Series on Public Policy vol.8 (1978), pp.289–323. [7]

Published in Journal of Monetary Economics Apr 1978, pp.151–191. [8]

Published in The Australian Monetary System in the 1970s, edited by M.G. Porter, pp.111–123. Melbourne : Monash University, 1978. [9]

Paper revised and reissued in 1980. Also published in Economic Record June 1981, pp.150–167. [10]

Published in Economic Record Sept 1982, pp.263–282, as “A Comparison of Four Macroeconometric Models of the Australian Economy”. [11]

Published in American Economic Review Mar 1982, pp.202–213, as “On Barro's Theorem of Debt Neutrality : The Irrelevance of Net Wealth”. [12]

Published in Economic Record Dec 1981, pp.332–343, as “Social Security, Government Finance, and Savings”. [13]

Published in Interest Rates : Papers and Proceedings of a Symposium, edited by D.J.P. Juttner, pp.144–170. Melbourne : Longman Cheshire, 1981. [14]

Published in Canadian Journal of Economics Nov 1982, pp.669–692, as “Exchange Rates and Capital Flows : A Sensitivity Analysis”. [15]

Published in Economic Record Dec 1983, pp.321–331. [16]

Published in Inflation and Unemployment : Theory, Experience and Policy-making, edited by V.E. Argy and J.W. Nevile, pp.281–304. London : George Allen & Unwin, 1985. [17]

Published in Economic Record Dec 1986, pp.451–467, as “Australian Business Investment : A New Look at the Neoclassical Approach”. [18]

Published in Economic Record Mar 1988, pp.2–13, as “Speculative Efficiency and the Exchange Rate : Some Evidence Since the Float”. [19]

Published in Economic Record Sept 1986, pp.257–267. [20]

Published in Economic Record Mar 1987, pp.61–79, as “The Nation's Private Wealth : Some New Calculations for Australia”. [21]

Published in Economic Record June 1988, pp.120–127, as “The Expectations Theory of the Term Structure of Interest Rates in Australia”. [22]

Published in Economic Record Supplement, 1986, pp.58–66. [23]

Published in Australian Economic Review no.80 (Summer 1987), pp.31–44. [24]

Published in Journal of International Money and Finance June 1989, pp.253–276, as “Modelling the Floating Australian Dollar : Can the Random Walk be Encompassed by a Model Using a Permanent Decomposition of Money and Output?”. [25]

A revised version was published in Federal Reserve Bank of Richmond Economic Review Sept/Oct 1987, pp.19–31, as “The Australian Money Market and the Operations of the Reserve Bank of Australia : A Comparative Analysis”. [26]

Published in Australian Economic Growth : Essays in Honour of Fred H. Gruen, edited by B.J. Chapman, pp.101–132. Melbourne : Macmillan in cooperation with CEDA, 1989. [27]

Published in Economic Record Dec 1988, pp.241–253. [28]

Published in Economica Aug 1989, pp.311–322. [29]

Published in Economic Record Sept 1988, pp.209–215. [30]

Published in Australian Economic Papers June 1988 Supplement, pp.126–150. [31]

Published in Australian Economic Papers Dec 1989, pp.167–180. [32]

Published in Australian Economic Papers June 1988 Supplement, pp.108–120. [33]

Forthcoming in Economic Record. [34]

Published in Journal of Foreign Exchange and International Finance Oct-Dec 1989, pp.308–324. [35]