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1–10 of 19 collapsed search results for monetary policy

RBA Glossary definition for monetary policy

monetary policy – monetary policy involves using interest rates to influence aggregate demand, employment and inflation in the economy.

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Appendix E: Monetary Policy Shocks

25 Oct 2022 RDP 2022-05
Kim Nguyen
RDP 2022-05: The Real Effects of Debt Covenants: Evidence from Australia Appendix E: Monetary Policy Shocks. ... Download the Paper 1,648. KB. Figure E1: Monetary Policy Shocks for Australia.
https://www.rba.gov.au/publications/rdp/2022/2022-05/appendix-e.html

Indirect Effects of Covenants – Monetary Policy Transmission

25 Oct 2022 RDP 2022-05
Kim Nguyen
Therefore, the effects of monetary policy need to be separated from macroeconomic and financial conditions. ... Figure 7: Differential Responses by Covenant. To a 100 basis point expansionary monetary policy shock.
https://www.rba.gov.au/publications/rdp/2022/2022-05/indirect-effects-of-covenants-monetary-policy-transmission.html

The Real Effects of Debt Covenants: Evidence from Australia

25 Oct 2022 RDP 2022-05
Kim Nguyen
composition of covenants to capture the average partial response to a monetary policy shock. ... The shift may have also made employment slightly less responsive to monetary policy.
https://www.rba.gov.au/publications/rdp/2022/2022-05/full.html

Read me file

25 Oct 2022 RDP 2022-05
Kim Nguyen
BTCS_yearly.dta: this contains the monetary policy shocks series constructed annually in Beckers (2020). ... 03. Indirect Effects – Regressions.do: this code estimates the indirect effects of debt covenants via monetary policy transmission in Section 4.
https://www.rba.gov.au/publications/rdp/2022/2022-05/read-me.html

The Real Effects of Debt Covenants: Evidence from Australia

25 Oct 2022 RDP 2022-05
Kim Nguyen
business, financial markets, financial stability, investment, monetary policy. I study how the use and structure of debt covenants affect real business activity and pass-through of monetary policy using a newly ... In addition, covenants with interest
https://www.rba.gov.au/publications/rdp/2022/2022-05.html

Appendix D: Direct Effects – Robustness Checks

25 Oct 2022 RDP 2022-05
Kim Nguyen
RDP 2022-05: The Real Effects of Debt Covenants: Evidence from Australia Appendix D: Direct Effects – Robustness Checks. Kim Nguyen. October 2022. Download the Paper 1,648. KB. Table D1: Direct Effects of Debt Covenants – Non-mining Sample.
https://www.rba.gov.au/publications/rdp/2022/2022-05/appendix-d.html

The Real Effects of Debt Covenants: Evidence from Australia

25 Oct 2022 RDP 2022-05
Kim Nguyen
Research Discussion Paper – RDP 2022-05 The Real Effects of Debt Covenants: Evidence from Australia. Kim Nguyen. October 2022. 1,648. KB. I would like to thank Nalini Agarwal, Benjamin Beckers, Leon Berkelmans, James Bishop, Anthony Brassil,
https://www.rba.gov.au/publications/rdp/2022/2022-05/sections.html

Introduction

25 Oct 2022 RDP 2022-05
Kim Nguyen
Having demonstrated the substantive direct effects of covenants, I study their role in the transmission of monetary policy, building on the approach of Greenwald (2019) and using monetary policy shocks developed ... Finally, I quantify the aggregate
https://www.rba.gov.au/publications/rdp/2022/2022-05/introduction.html

References

25 Oct 2022 RDP 2022-05
Kim Nguyen
Beckers B (2020), ‘Credit Spreads, Monetary Policy and the Price Puzzle’, RBA Research Discussion Paper No 2020-01. ... Ottonello P and T Winberry (2020), ‘Financial Heterogeneity and the Investment Channel of Monetary Policy’, Econometrica, 88(6)
https://www.rba.gov.au/publications/rdp/2022/2022-05/references.html

Appendix F: Average Partial Responses Relative to 2003

25 Oct 2022 RDP 2022-05
Kim Nguyen
One year following a 100 basis point expansionary monetary policy shock.
https://www.rba.gov.au/publications/rdp/2022/2022-05/appendix-f.html