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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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Welfare-Maximizing Monetary Policy under Parameter Uncertainty

13 Dec 2007 Research Workshop PDF 312KB
Reserve Bank of Australia Workshop 2007: Monetary Policy in Open Economies
https://www.rba.gov.au/publications/workshops/research/2007/edge.pdf

The Distributional Effects of Monetary Policy: Evidence from Local Housing Markets

1 Feb 2020 RDP 2020-02
Calvin He and Gianni La Cava
If monetary policy systematically responds to aggregate output growth then the key identification assumption is invalid because. ... In particular, the Reserve Bank focuses on aggregate measures of economic activity and inflation in setting monetary
https://www.rba.gov.au/publications/rdp/2020/2020-02/full.html
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Expectations and the Neutrality of Interest Rates

27 Nov 2023 Conferences PDF 477KB
RBA Annual Conference 2023
https://www.rba.gov.au/publications/confs/2023/pdf/rba-conference-2023-cochrane.pdf

Read me file for Do Monetary Policy and Economic Conditions Impact Innovation? Evidence from Australian Adminstrative Data

13 Feb 2024 RDP PDF 206KB
RDP 2024-01 supplementary information
https://www.rba.gov.au/publications/rdp/2024/2024-01/rdp-2024-01-read-me.pdf

Appendix: Data Sources and Methods

1 Aug 1988 RDP 8805
Michele Bullock, Dirk Morris and Glenn Stevens
For the monetary and credit aggregates, all data are from the Reserve Bank. ... The correlation coefficients in the paper are calculated using seasonally adjusted data for financial aggregates.
https://www.rba.gov.au/publications/rdp/1988/8805/appendix.html
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Financial System Liquidity, Asset Prices and Monetary Policy | Conference – 2005

11 Jul 2005 Conferences
Hyun Song Shin
1. Introduction. Monetary policy works by manipulating asset prices, especially long-term interest rates. ... The loop thus created will generate amplified responses to the changing of monetary policy.
https://www.rba.gov.au/publications/confs/2005/shin.html

BA-MARTIN in Detail

18 Jan 2022 RDP 2022-01
Anthony Brassil, Mike Major and Peter Rickards
weights are mostly determined by aggregate variables – such as housing prices and unemployment – and therefore depend on the decisions made by all banks. ... With four major banks, each of the majors would likely account for the effects of their
https://www.rba.gov.au/publications/rdp/2022/2022-01/ba-martin-in-detail.html
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Accelerator or Brake? Cash for Clunkers, Household, Liquidity, and Aggregate Demand

17 Jan 2017 Research Workshop PDF 1028KB
Accelerator or Brake? Cash for Clunkers, Household, Liquidity, and Aggregate Demand
https://www.rba.gov.au/publications/workshops/research/2016/pdf/rba-workshop-2016-parker.pdf

The Household Cash Flow Channel of Monetary Policy

16 Dec 2016 RDP 2016-12
Gianni La Cava, Helen Hughson and Greg Kaplan
Research Discussion Paper – RDP 2016-12 The Household Cash Flow Channel of Monetary Policy. ... Overall, the household cash flow channel appears to be an important channel of monetary transmission in Australia.
https://www.rba.gov.au/publications/rdp/2016/2016-12.html
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Research Workshop – 2016

20 Dec 2016 Research Workshop
The Reserve Bank of Australia 2016 research workshop, 'Quantitative Macroeconomics'
https://www.rba.gov.au/publications/workshops/research/2016/