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1–7 of 7 collapsed search results for money market

RBA Glossary definition for money market

money market – The market which deals in short-term discount securities such as Treasury notes, bank bills and promissory notes. Major participants in this market include the Reserve Bank of Australia, banks, superannuation funds, insurance companies, investment trusts, investment banks, building societies and large corporates.

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Monetary Transmission in a Deregulated Financial System

1 Dec 1988 RDP 8811
Dirk Morris
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1988/8811.html

Empirical Implications

1 Dec 1988 RDP 8811
Dirk Morris
The above work therefore provides a strong alternative hypothesis to the conventional notion that money leads the economic cycle. ... is starting to question the assumption that money and/or credit are leading indicators of activity.
https://www.rba.gov.au/publications/rdp/1988/8811/empirical-implications.html

References

1 Dec 1988 RDP 8811
Dirk Morris
Battellino, R. and I.J. Macfarlane, (1987), “Open Market Operations – Some International Comparisons”,. ... Sims, C.A., (1972), “Money, Income, and Causality”,. American Economic Review. , 62, pp.
https://www.rba.gov.au/publications/rdp/1988/8811/references.html

Monetary Policy Without Money

1 Dec 1988 RDP 8811
Dirk Morris
RDP 8811: Monetary Transmission in a Deregulated Financial System 4. Monetary Policy Without Money. ... In particular, the desirability of targeting money in the IS/LM model depended crucially on the the variance of the money demand shocks being smaller
https://www.rba.gov.au/publications/rdp/1988/8811/monetary-policy-without-money.html

Deregulation in Existing IS/LM Models

1 Dec 1988 RDP 8811
Dirk Morris
This renders the usual definitions of “money” insensitive to changes in interest rates. ... The vertical LM curve is built on a broad definition of “money”, (intermediated assets that return market rates of interest) with reserve requirements
https://www.rba.gov.au/publications/rdp/1988/8811/deregulation-in-existing-is-lm-models.html

Conceptual Framework

1 Dec 1988 RDP 8811
Dirk Morris
With the (non-bank) private sector no longer holding outside money and, with so-called ‘inside money’ now earning market rates of interest, the central bank will clearly have less influence ... It is for this reason that the paper tries to avoid
https://www.rba.gov.au/publications/rdp/1988/8811/conceptual-framework.html

Policy Implications

1 Dec 1988 RDP 8811
Dirk Morris
Until recently, most countries, including Australia, have used nominal “money” growth as a nominal policy anchor. ... the markets long-run inflationary expectations. Whenever the yield on nominal long bonds rose above the yield on indexed bonds
https://www.rba.gov.au/publications/rdp/1988/8811/policy-implications.html