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RBA Glossary definition for central bank
central bank – A non-commercial bank, which may or may not be independent of government, which has some or all of the following functions: conduct monetary policy; oversee the stability of the financial system; issue currency notes; act as banker to the government; supervise financial institutions and regulate payments systems.
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Monetary Policy, Equity Markets and the Information Effect
22 Apr 2021
RDP
2021-04
financial markets, forecasting, interest rates, monetary policy, money. Central banks analyse copious amounts of information to assess the economic outlook to then set monetary policy. ... However, looking beyond monetary policy announcements yields some
https://www.rba.gov.au/publications/rdp/2021/2021-04.html
Results
1 Apr 2021
RDP
2021-04
Reserve Bank of Australia, 2001–2024. All rights reserved. The Reserve Bank of Australia acknowledges the Aboriginal and Torres Strait Islander Peoples of Australia as the Traditional Custodians of this land,
https://www.rba.gov.au/publications/rdp/2021/2021-04/results.html
Conclusion
1 Apr 2021
RDP
2021-04
But when considering other forms of central bank communication I provide some evidence that an information effect may be present. ... Reserve Bank of Australia, 2001–2024. All rights reserved. The Reserve Bank of Australia acknowledges the Aboriginal
https://www.rba.gov.au/publications/rdp/2021/2021-04/conclusion.html
References
1 Apr 2021
RDP
2021-04
Cieslak A and A Schrimpf (2019), ‘Non-Monetary News in Central Bank Communication’, Journal of International Economics, 118, pp 293–315. ... Frankel A and N Kartik (2018), ‘What Kind of Central Bank Competence?’, Theoretical Economics, 13(2),
https://www.rba.gov.au/publications/rdp/2021/2021-04/references.html
Literature Review
1 Apr 2021
RDP
2021-04
Though theory provides various plausible mechanisms for the information effect, Romer and Romer (2000) first provided empirical evidence of the central bank information effect. ... However, Bauer and Swanson (2019) provide evidence that the results in
https://www.rba.gov.au/publications/rdp/2021/2021-04/literature-review.html
Monetary Policy, Equity Markets and the Information Effect
23 Mar 2021
RDP
2021-04
Reserve Bank of Australia, 2001–2024. All rights reserved. The Reserve Bank of Australia acknowledges the Aboriginal and Torres Strait Islander Peoples of Australia as the Traditional Custodians of this land,
https://www.rba.gov.au/publications/rdp/2021/2021-04/read-me.html
Appendix A: Data Description
1 Apr 2021
RDP
2021-04
Reserve Bank of Australia, 2001–2024. All rights reserved. The Reserve Bank of Australia acknowledges the Aboriginal and Torres Strait Islander Peoples of Australia as the Traditional Custodians of this land,
https://www.rba.gov.au/publications/rdp/2021/2021-04/appendix-a.html
Appendix B: Regression Output
1 Apr 2021
RDP
2021-04
Reserve Bank of Australia, 2001–2024. All rights reserved. The Reserve Bank of Australia acknowledges the Aboriginal and Torres Strait Islander Peoples of Australia as the Traditional Custodians of this land,
https://www.rba.gov.au/publications/rdp/2021/2021-04/appendix-b.html
Monetary Policy, Equity Markets and the Information Effect
22 Apr 2021
RDP
2021-04
Any errors are the sole responsibility of the author. The views expressed in this paper are those of the author and do not necessarily reflect the views of the Reserve Bank ... Reserve Bank of Australia, 2001–2024. All rights reserved. The Reserve Bank
https://www.rba.gov.au/publications/rdp/2021/2021-04/sections.html
Data and Method
1 Apr 2021
RDP
2021-04
Reserve Bank of Australia, 2001–2024. All rights reserved. The Reserve Bank of Australia acknowledges the Aboriginal and Torres Strait Islander Peoples of Australia as the Traditional Custodians of this land,
https://www.rba.gov.au/publications/rdp/2021/2021-04/data-and-method.html