RDP 2001-10: A Select Bibliography of Published Research by Staff of the Reserve Bank of Australia: 1991–2001 2. Research Discussion Papers

9101 Gruen DW, ‘The Effect of Steady Inflation on Interest Rates and the Real Exchange Rate in a World with Free Capital Flows’.
9102 Edey ML and J Pleban, ‘Indicators of Economic Activity: A Review’.
9103 Gruen DW and GD Menzies, ‘The Failure of Uncovered Interest Parity: Is it Near-rationality in the Foreign Exchange Market?’.[2]
9104 Bullock ML and M Rider, ‘The Cross-country Relationship between Interest Rates and Inflation over Three Decades’.
9105 Fahrer JG and J Myatt, ‘Inflation in Australia: Causes, Inertia and Policy’.
9106 Kent C and P Scott, ‘The Direction of Australian Investment from 1985/86 to 1988/89’.
9107 Richards AJ, ‘The Cost of Equity Capital in Australia: What Can We Learn from International Equity Returns?’.
9108 Gruen DW and J Wilkinson, ‘Australia's Real Exchange Rate – Is it Explained by the Terms of Trade or by Real Interest Differentials?’.[3]
9109 Callen TS, ‘Estimates of Private Sector Wealth’.[4]
9110 Lowe PW, ‘Resource Convergence and Intra-industry Trade’.
9111 Tarditi A and GD Menzies, ‘Monthly Movements in the Australian Dollar and Real Short-term Interest Differentials: An Application of the Kalman Filter’.[5]
9112 Edey ML, RA Foster and IJ Macfarlane, ‘The Role of Superannuation in the Financial Sector and in Aggregate Saving: A Review of Recent Trends’.[6]
9201 Lowe PW, ‘The Impact of Real and Nominal Shocks on Australian Real Exchange Rates’.
9202 Fahrer JG and T Rohling, ‘Some Tests of Competition in the Australian Housing Loan Market’.[7]
9203 Blundell-Wignall A and FX Browne, ‘Real Exchange Rates and the Globalisation of Financial Markets’.
9204 Lowe PW, ‘The Term Structure of Interest Rates, Real Activity and Inflation’.
9205 Dews NJ, JR Hawkins and T Horton, ‘Measuring the Cost of Capital in Australia’.
9206 Lowe PW and T Rohling, ‘Loan Rate Stickiness: Theory and Evidence’.
9207 Coelli MB and JG Fahrer, ‘Indicators of Inflationary Pressure’.
9208 Blundell-Wignall A and MC Gizycki, ‘Credit Supply and Demand and the Australian Economy’.[8]
9209 Blundell-Wignall A, FX Browne, S Cavaglia and A Tarditi, ‘Financial Liberalisation and Consumption Behaviour’.[9]
9210 Levonian M and S Kendall, ‘A Contingent Claim Analysis of Risk-based Capital Standards for Banks’.
9211 Callen TS, SR Morling and J Pleban, ‘Dividends and Taxation: A Preliminary Investigation’.
9212 Blundell-Wignall A and ML Bullock, ‘Changes in the Characteristics of the Australian Business Cycle: Some Lessons for Monetary Policy from the 1980s and Early 1990s’.[10]
9213 Lowe PW, ‘The Impact of Financial Intermediaries on Resource Allocation and Economic Growth’.
9214 Rankin RW, ‘The Cash Market in Australia’.
9215 Fahrer JG and A Heath, ‘The Evolution of Employment and Unemployment in Australia’.
9216 Lowe PW and G Shuetrim, ‘The Evolution of Corporate Financial Structure: 1973–1990’.
9301 McNelis PD, ‘The Response of Australian Stock, Foreign Exchange and Bond Markets to Foreign Asset Returns and Volatilities’.
9302 Gizycki MC and M Levonian, ‘A Decade of Australian Banking Risk: Evidence from Share Prices’.
9303 Merrett DT, ‘The 1893 Bank Crashes and Monetary Aggregates’.
9304 Dwyer JA, C Kent and A Pease, ‘Exchange Rate Pass-through: The Different Responses of Importers and Exporters’.[11]
9305 Fahrer JG and A Pease, ‘The Unemployment/Vacancy Relationship in Australia’.[12]
9306 Flood D and PW Lowe, ‘Inventories and the Business Cycle’.[13]
9307 Gruen DW and MC Gizycki, ‘Explaining Forward Discount Bias: Is it Anchoring?’.
9308 Mills K, SR Morling and WJ Tease, ‘Balance Sheet Restructuring and Investment’.[14]
9309 Dwyer JA and PW Lowe, ‘Alternative Concepts of the Real Exchange Rate: A Reconciliation’.
9310 Menzies GD and G Heenan, ‘Explaining the Recent Performance of Australia's Manufactured Exports’.
9311 Lowe PW and T Rohling, ‘Agency Costs, Balance Sheets and the Business Cycle’.
9312 Dwyer JA and C Kent, ‘A Re-examination of the Determinants of Australia's Imports’.
9313 Shuetrim G, PW Lowe and SR Morling, ‘The Determinants of Corporate Leverage: A Panel Data Analysis’.
9314 de Brouwer G, I Ng and R Subbaraman, ‘The Demand for Money in Australia: New Tests on an Old Topic’.
9315 Tease WJ and J Wilkinson, ‘The Provision of Financial Services – Trends, Prospects and Implications’.[15]
9401 Dwyer JA and C Groeger, ‘Resource Flows to the Traded Goods Sector’.
9402 Mills K, SR Morling and WJ Tease, ‘The Influence of Financial Factors on Corporate Investment’.[16]
9403 Fahrer JG and J Simon, ‘Capital Constraints and Employment’.[17]
9404 Coelli MB, JG Fahrer and H Lindsay, ‘Wage Dispersion and Labour Market Institutions: A Cross Country Study’.
9405 Rider M, ‘External Debt and Liabilities of Industrial Countries’.
9406 Andrew R and J Broadbent, ‘Reserve Bank Operations in the Foreign Exchange Market: Effectiveness and Profitability’.
9407 Dwyer JA and R Lam, ‘Explaining Import Price Inflation: A Recent History of Second Stage Pass-through’.[18]
9408 Weston S and B Gray, ‘The Supervisory Treatment of Banks' Market Risk’.
9409 Gizycki MC and B Gray, ‘Default Risk and Derivatives: An Empirical Analysis of Bilateral Netting’.
9410 Mishkin FS and J Simon, ‘An Empirical Examination of the Fisher Effect in Australia’.[19]
9411 De Abreu Lourenco R and PW Lowe, ‘Demand Shocks, Inflation and the Business Cycle’.
9501 Kortian T, ‘Modern Approaches to Asset Price Formation: A Survey of Recent Theoretical Literature’.
9502 De Abreu Lourenco R and DW Gruen, ‘Price Stickiness and Inflation’.
9503 Debelle G and GR Stevens, ‘Monetary Policy Goals for Inflation in Australia’.[20]
9504 Lowe PW, ‘The Link between the Cash Rate and Market Interest Rates’.
9505 Lowe PW, ‘Labour-productivity Growth and Relative Wages: 1978–1994’.
9506 de Brouwer G, ‘The Liberalisation and Integration of Domestic Financial Markets in Western Pacific Economies’.
9507 Andersen PS and DW Gruen, ‘Macroeconomic Policies and Growth’.
9508 Gruen DW and JA Dwyer, ‘Are Terms of Trade Rises Inflationary?’.[21]
9509 Cockerell L and B Russell, ‘Australian Wage and Price Inflation: 1971–1994’.
9510 de Brouwer G and NR Ericsson, ‘Modelling Inflation in Australia’.[22]
9511 Morling SR and R Subbaraman, ‘Superannuation and Saving’.
9512 Debelle G and B Preston, ‘Consumption, Investment and International Linkages’.
9513 Gruen DW, ‘Financial Market Volatility and the World-wide Fall in Inflation’.
9601 Gruen DW and T Kortian, ‘Why Does the Australian Dollar Move so Closely with the Terms of Trade?’.
9602 de Brouwer G, ‘Consumption and Liquidity Constraints in Australia and East Asia: Does Financial Integration Matter?’.
9603 Edey ML and J Simon, ‘Australia's Retirement Income System: Implications for Saving and Capital Markets’.[23]
9604 Edey ML and J Romalis, ‘Issues in Modelling Monetary Policy’.
9605 Edey ML and B Gray, ‘The Evolving Structure of the Australian Financial System’.
9606 Tallman EW and N Chandra, ‘The Information Content of Financial Aggregates in Australia’.
9607 de Roos N and B Russell, ‘Towards an Understanding of Australia's Co-movement with Foreign Business Cycles’.
9608 Tarditi A, ‘Modelling the Australian Exchange Rate, Long Bond Yield and Inflationary Expectations’.
9609 Kortian T and J O'Regan, ‘Australian Financial Market Volatility: An Exploration of Cross-country and Cross-market Linkages’.
9610 Andersen M and R Subbaraman, ‘Share Prices and Investment’.
9611 Simon J, ‘A Markov-switching Model of Inflation in Australia’.
9612 de Brouwer G and J Romalis, ‘External Influences on Output: An Industry Analysis’.
9701 Gagnon JE, ‘Inflation Regimes and Inflation Expectations’.
9702 Gruen DW, J Romalis and N Chandra, ‘The Lags of Monetary Policy’.[24]
9703 Battellino R, J Broadbent and PW Lowe, ‘The Implementation of Monetary Policy in Australia’.
9704 Tallman EW and N Chandra, ‘Financial Aggregates as Conditioning Information for Australian Output and Inflation’.
9705 Kent C, ‘The Response of the Current Account to Terms of Trade Shocks: A Panel-data Study’.
9706 Debelle G and J Vickery, ‘Is the Phillips Curve a Curve? Some Evidence and Implications for Australia’.[25]
9707 O'Regan J and J Wilkinson, ‘Internationalisation and Pricing Behaviour: Some Evidence for Australia’.
9708 Cassidy C and MC Gizycki, ‘Measuring Traded Market Risk: Value-at-Risk and Backtesting Techniques’.[26]
9709 Kent C and PW Lowe, ‘Asset-price Bubbles and Monetary Policy’.
9801 Debelle G and J Vickery, ‘Labour Market Adjustment: Evidence on Interstate Labour Mobility’.[27]
9802 Shuetrim G, ‘Systematic Risk Characteristics of Corporate Equity’.
9803 de Brouwer G and L Ellis, ‘Forward-looking Behaviour and Credibility: Some Evidence and Implications for Policy’.
9804 Debelle G and T Swann, ‘Stylised Facts of the Australian Labour Market’.
9805 Goldstein M and JR Hawkins, ‘The Origin of the Asian Financial Turmoil’.
9806 Ball L, ‘Policy Rules for Open Economies’.[28]
9807 Bharucha N and C Kent, ‘Inflation Targeting in a Small Open Economy’.
9808 Campbell F and E Lewis, ‘What Moves Yields in Australia?’.[29]
9809 de Brouwer G, ‘Estimating Output Gaps’.
9810 Kearns J, ‘The Distribution and Measurement of Inflation’.
9811 Kent C and R Naja, ‘Effective Real Exchange Rates and Irrelevant Nominal Exchange-rate Regimes’.
9812 Fuhrer JC, ‘An Optimising Model for Monetary Policy Analysis: Can Habit Formation Help?’.
1999-01 Gruen DW, AR Pagan and C Thompson, ‘The Phillips Curve in Australia’.[30]
1999-02 Heath A and T Swann, ‘Reservation Wages and the Duration of Unemployment’.
1999-03 Brischetto A and G de Brouwer, ‘Householders' Inflation Expectations’.
1999-04 Engel JA and MC Gizycki, ‘Value at Risk: On the Stability and Forecasting of the Variance-covariance Matrix’.
1999-05 Kent C and G Debelle, ‘Trends in the Australian Banking System: Implications for Financial System Stability and Monetary Policy’.
1999-06 Fisher C and C Kent, ‘Two Depressions, One Banking Collapse’.
1999-07 Heath A, ‘Job-search Methods, Neighbourhood Effects and the Youth Labour Market’.
1999-08 Debelle G, ‘Inflation Targeting and Output Stabilisation’.[31]
1999-09 Gizycki MC and B Goldsworthy, ‘Australian Banking Risk: The Stock Market's Assessment and the Relationship between Capital and Asset Volatility’.
1999-10 Shuetrim G and C Thompson, ‘The Implications of Uncertainty for Monetary Policy’.[32]
1999-11 Brischetto A and G Voss, ‘A Structural Vector Autoregression Model of Monetary Policy in Australia’.
1999-12 Vickery J, ‘Unemployment and Skills in Australia’.
2000-01 Beechey M, DW Gruen and J Vickery, ‘The Efficient Market Hypothesis: A Survey’.
2000-02 Brischetto A and G Voss, ‘Forecasting Australian Economic Activity Using Leading Indicators’.
2000-03 Gower L, ‘Some Structural Causes of Japan's Banking Problems’.
2000-04 Markwell DJ, ‘Keynes and Australia’.
2000-05 Beechey M, N Bharucha, A Cagliarini, DW Gruen and C Thompson, ‘A Small Model of the Australian Macroeconomy’.
2000-06 Ryan C and C Thompson, ‘Inflation Targeting and Exchange Rate Fluctuations in Australia’.
2000-07 Debelle G and A Cagliarini, ‘The Effect of Uncertainty on Monetary Policy: How Good are the Brakes?’.
2000-08 Dwyer JA and K Leong, ‘Nominal Wage Rigidity in Australia’.
2000-09 Tan A and G Voss, ‘Consumption and Wealth’.
2000-10 Cagliarini A And A Heath, ‘Monetary Policy-making in the Presence of Knightian Uncertainty’.
2001–01 Simon J, ‘The Decline in Australian Output Volatility’.
2001–02 Dwyer JA and K Leong, ‘Changes in the Determinants of Inflation in Australia’.
2001–03 Ellis L and E Lewis, ‘The Response of Financial Markets in Australia and New Zealand to News about the Asian Crisis’.
2001–04 Ellis L, ‘Measuring the Real Exchange Rate: Pitfalls and Practicalities’.
2001–05 Otto G, G Voss and L Willard, ‘Understanding OECD Output Correlations’.
2001–06 Gizycki MC, ‘The Effect of Macroeconomic Conditions on Banks' Risk and Profitability’.
2001–07 Fitz-Gibbon B and MC Gizycki, ‘A History of Last-resort Lending and Other Support for Troubled Financial Institutions in Australia’.
2001–08 Ellis L and D Andrews, ‘City Sizes, Housing Costs, and Wealth’.
2001–09 Roberts ID and J Simon, ‘What Do Sentiment Surveys Measure?’.
2001–10 Hornby S and ID Roberts, ‘A Select Bibliography of Published Research by Staff of the Reserve Bank of Australia: 1991–2001’.


Published in Economic Record, 71(204), 1995, pp 157–166 as ‘Forward Discount Bias: Is it Near-Rationality in the Foreign Exchange Market?’. [2]

Published in Economic Record, 70(209), 1994, pp 204–219. [3]

Published in MR Johnson, P Kriesler and AD Owen (eds) (1994), Issues in Australian Economics, Allen & Unwin, St Leonards NSW, pp 125–140 as ‘Private Sector Wealth in Australia’. [4]

Published in Journal of Foreign Exchange and International Finance, 8(4), 1995, pp 396–417. [5]

Published in K Davis and I Harper (eds) (1992), Superannuation and the Australian Financial System, Allen and Unwin, Sydney, pp 17–39 and in Economic Planning and Advisory Council (1992), Economic and Social Consequences of Australia's Ageing Population: Preparing for the 21st Century, EPAC Background Paper No 23, AGPS, Canberra, pp 53–72. [6]

Published in Australian Economic Papers, 33(62), 1994, pp 107–119. [7]

Published in Australian Economic Review, No 105, 1994, pp 101–113 as ‘Credit Supply and Demand and Business Investment’. [8]

Published as OECD Economics and Statistics Department Working Paper No 81, 1991 and in Manchester School of Economic and Social Studies, 63(2), 1995, pp 125–144 as ‘Financial Liberalization and the Permanent Income Hypothesis’. [9]

Published in Changes in the Business Cycle and the Implications for Monetary Policy, Central Bank Economists' Meeting, 1993, Bank for International Settlements, Basle, pp 1–34. [10]

Published in Economic Record, 70(211), 1994, pp 408–423 as ‘Exchange Rate Pass-Through: Testing the Small Country Assumption in Australia’. [11]

Published in Australian Economic Review, No 104, 1993, pp 43–57. [12]

Published in Economic Record, 71(212), 1995, pp 27–39. [13]

Published in Australian Economic Review, No 105, 1994, pp 83–100. [14]

Published in Economic Papers, December 1994 Supplement, pp 21–49. [15]

Published in Australian Economic Review, No 110, 1995, pp 50–64. [16]

Published in Australian Economic Review, No 109, 1995, pp 23–34. [17]

Published in Australian Economic Papers, 34(65), 1995, pp 157–179 as ‘The Two Stages of Exchange Rate Pass-Through: Implications for Inflation’. [18]

Published Economic Record, 71(214), 1995, pp 217–229. [19]

Published in AG Haldane (ed) (1995), Targeting Inflation: A Conference of Central Banks on the Use of Inflation Targets, Bank of England, London, pp 81–100. [20]

Published in Australian Economic Review, No 114, 1996, pp 211–224. [21]

Published in Journal of Business & Economic Statistics, 16(4), 1998, pp 433–449 and in International Finance Discussion Paper No 530. [22]

Published in M Feldstein (ed) (1998), Privatizing Social Security, University of Chicago Press, Chicago, pp 63–89 as ‘Australia's Retirement Income System’. [23]

Published in Economic Record, 75(230), 1999, pp 280–294. [24]

Published in Economic Record, 74(227), 1998, pp 384–398. [25]

A non-technical summary was published in Asia Risk, April 1998, pp 39–43 as ‘VAR Makes the Grade’. [26]

Published in Australian Economic Review, 32(3), 1999, pp 249–263. [27]

Published in JB Taylor (ed) (1999), Monetary Policy Rules, University of Chicago Press, Chicago, pp 127–144. [28]

An abbreviated adaptation was published in JASSA: Journal of the Securities Institute of Australia, No 4, 1998, pp 7–17 as ‘Here is the News: Now What Happens to Yields in Australia?’. [29]

Published in Journal of Monetary Economics, 44(2), 1999, pp 223–258. [30]

Published in MI Blejer et al (eds) (2000), Inflation Targeting in Practice: Strategic and Operational Issues and Application to Emerging Market Economies, International Monetary Fund, Washington DC, pp 44–51. [31]

Published in B Hunt and A Orr (eds) (1999), Monetary Policy Under Uncertainty, Proceedings of a Workshop, Reserve Bank of New Zealand, Wellington, pp 259–292. [32]