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1–10 of 19 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.

Search Results

Monetary Policy, Equity Markets and the Information Effect

22 Apr 2021 RDP 2021-04
Calvin He
Research Discussion Paper – RDP 2021-04 Monetary Policy, Equity Markets and the Information Effect. ... financial markets, forecasting, interest rates, monetary policy, money. Central banks analyse copious amounts of information to assess the economic
https://www.rba.gov.au/publications/rdp/2021/2021-04.html

Monetary Policy, Equity Markets and the Information Effect

22 Apr 2021 RDP 2021-04
Calvin He
Research Discussion Paper – RDP 2021-04 Monetary Policy, Equity Markets and the Information Effect.
https://www.rba.gov.au/publications/rdp/2021/2021-04/sections.html

Monetary Policy, Equity Markets and the Information Effect

23 Mar 2021 RDP 2021-04
Calvin He
Research Discussion Paper – RDP 2021-04 Monetary Policy, Equity Markets and the Information Effect.
https://www.rba.gov.au/publications/rdp/2021/2021-04/read-me.html

Conclusion

1 Apr 2021 RDP 2021-04
Calvin He
Using high-frequency financial market and weekly forecasts for identification, I document the effect of monetary policy on Australian equity prices and equity earnings forecasts. ... announcements. Rather, monetary policy announcements in Australia have
https://www.rba.gov.au/publications/rdp/2021/2021-04/conclusion.html

Appendix C: Semi-elasticity versus Elasticity

1 Apr 2021 RDP 2021-04
Calvin He
RDP 2021-04: Monetary Policy, Equity Markets and the Information Effect Appendix C: Semi-elasticity versus Elasticity.
https://www.rba.gov.au/publications/rdp/2021/2021-04/appendix-c.html

Results

1 Apr 2021 RDP 2021-04
Calvin He
RDP 2021-04: Monetary Policy, Equity Markets and the Information Effect 5. ... Overall, the results support the conventional view that equity markets interpret a monetary policy tightening as contractionary for economic activity.
https://www.rba.gov.au/publications/rdp/2021/2021-04/results.html

Literature Review

1 Apr 2021 RDP 2021-04
Calvin He
An alternative lens to view the information effect is through the equity market. ... This paper uses the approach taken in Bauer and Swanson (2019) by looking at the response of the Australian equity market to monetary policy surprises.
https://www.rba.gov.au/publications/rdp/2021/2021-04/literature-review.html

Appendix A: Data Description

1 Apr 2021 RDP 2021-04
Calvin He
RDP 2021-04: Monetary Policy, Equity Markets and the Information Effect Appendix A: Data Description.
https://www.rba.gov.au/publications/rdp/2021/2021-04/appendix-a.html

Non-technical summary for ‘Monetary Policy, Equity Markets and the Information Effect’

23 Mar 2021 RDP 2021-04
Calvin He
In this paper, I use the lens of equity markets to shed light on this question. ... I find little evidence that the information effect is an important channel in equity markets.
https://www.rba.gov.au/publications/rdp/2021/2021-04/non-technical-summary.html

References

1 Apr 2021 RDP 2021-04
Calvin He
351. Ellingsen T and U Söderström (2001), ‘Monetary Policy and Market Interest Rates’, The American Economic Review, 91(5), pp 1594–1607. ... Kuttner KN (2001), ‘Monetary Policy Surprises and Interest Rates: Evidence from the Fed Funds Futures
https://www.rba.gov.au/publications/rdp/2021/2021-04/references.html