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RBA Glossary definition for monetary aggregates

monetary aggregates – A series of measures of the values of currency on issue, current deposits with banks, other deposits with banks, plus borrowings from the private sector by non-bank financial institutions (NBFIs) less currency and bank deposits by NBFIs. Components consist of: 'M1' defined as currency plus bank current deposits from the private non-bank sector; 'M3' defined as M1 plus all other authorised deposit-taking institution (ADI) deposits from the private non-ADI sector, plus certificates of deposit issued by banks, less ADI deposits held with one another; 'Broad money' defined as M3 plus other short-term liquid AFI liabilities held by the private sector, except those held by other AFIs ; 'Money base' defined as holdings of banknotes and coins by the private sector plus deposits of banks with the Reserve Bank of Australia (RBA) and other RBA liabilities to the private non-bank sector

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Decomposing Supply and Demand Driven Inflation

23 Nov 2023 Conferences PDF 1508KB
RBA Annual Conference 2023
https://www.rba.gov.au/publications/confs/2023/pdf/rba-conference-2023-shapiro.pdf

Discussion of Inflation and Interest Rates

27 Nov 2023 Conferences PDF 230KB
RBA Annual Conference 2023
https://www.rba.gov.au/publications/confs/2023/pdf/rba-conference-2023-cochrane-discussion-presentation.pdf

The Effect of Credit Constraints on Housing Prices: (Further) Evidence from a Survey Experiment

25 Jan 2023 RDP PDF 1588KB
To analyse the full datasetI aggregate household demand for homes of different values in different locations. ... However, the pattern observed at the aggregate levelis also evident at disaggregated levels.
https://www.rba.gov.au/publications/rdp/2023/pdf/rdp2023-01.pdf

Tests of Simple Targeting Rules for Monetary Policy

2 Dec 2008 Research Workshop PDF 353KB
Reserve Bank of Australia Workshop 2008: Monetary Policy in Open Economies
https://www.rba.gov.au/publications/workshops/research/2008/otto.pdf

Identification and Inference under Narrative Restrictions

20 Oct 2023 RDP PDF 1128KB
Under a richer set of restrictions, there is robustevidence that output falls following a positive monetary policy shock. ... 6. Frequentist Coverage 19. 7. Empirical Application: Dynamic Effects of US Monetary Policy 21.
https://www.rba.gov.au/publications/rdp/2023/pdf/rdp2023-07.pdf

Nonlinear Inflation Dynamics in Menu Cost Economies

19 Dec 2023 Research Workshop PDF 1277KB
RBA Workshop 2023
https://www.rba.gov.au/publications/workshops/research/2023/pdf/rba-workshop-2023-blanco-boar-jones-midrigan.pdf

Are Inflationary Shocks Regressive? A Feasible Set Approach

19 Dec 2023 Research Workshop PDF 842KB
RBA Workshop 2023
https://www.rba.gov.au/publications/workshops/research/2023/pdf/rba-workshop-2023-del-canto-grigsby-qian-walsh.pdf

Financial Aggregates as Conditioning Information for Australian Output and Inflation

1 Dec 2009 RDP PDF 138KB
key test of the relationships in the US data between output, theprice level and chosen monetary aggregates. ... 6 These prediction tests provide a ‘low hurdle’ for monetary aggregates as measures informative.
https://www.rba.gov.au/publications/rdp/1997/pdf/rdp9704.pdf

FINANCIAL INNOVATIONS AND MONETARY POLICY1 A PRELIMINARY SURVEY* Carolyn ...

23 Feb 2017 RDP PDF 542KB
neither precludes further disturbances to monetary aggregates. nor ensures policy accuracy by restoring the former historical. ... Federal Reserve Bank of Boston. Controlling Monetary Aggregates III. Proceedings of a Conference (October 1980).
https://www.rba.gov.au/publications/rdp/1983/pdf/rdp8301.pdf

Strategies for Controlling Inflation

7 Dec 2006 Conferences PDF 87KB
RBA Conference Volume 1997
https://www.rba.gov.au/publications/confs/1997/pdf/mishkin.pdf