Search: monetary policy

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1–10 of 11 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.

Search Results

How Should Monetary Policy Respond to Asset-price Bubbles?

1 Nov 2003 RDP 2003-11
David Gruen, Michael Plumb and Andrew Stone
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/2003/2003-11.html

How Should Monetary Policy Respond to Asset-Price Bubbles?

1 Nov 2003 RDP 2003-11
David Gruen, Michael Plumb and Andrew Stone
https://www.rba.gov.au/publications/rdp/2003/2003-11/

Appendix C: Analytic Solution of the Optimal Policy Problem

31 Dec 2003 RDP 2003-11
David Gruen, Michael Plumb and Andrew Stone
RDP 2003-11: How Should Monetary Policy Respond to Asset-Price Bubbles? Appendix C: Analytic Solution of the Optimal Policy Problem. ... consideration; and the third reflects the influence of monetary policy settings over this same horizon.
https://www.rba.gov.au/publications/rdp/2003/2003-11/appendix-c.html

Appendix D: Some Technical Results Required in Appendix C

31 Dec 2003 RDP 2003-11
David Gruen, Michael Plumb and Andrew Stone
RDP 2003-11: How Should Monetary Policy Respond to Asset-Price Bubbles? Appendix D: Some Technical Results Required in Appendix C. ... C. For consider an activist policy-maker in period s facing an asset-price bubble which has not yet burst.
https://www.rba.gov.au/publications/rdp/2003/2003-11/appendix-d.html

Introduction

31 Dec 2003 RDP 2003-11
David Gruen, Michael Plumb and Andrew Stone
RDP 2003-11: How Should Monetary Policy Respond to Asset-Price Bubbles? 1. ... or, alternatively, does not believe that monetary policy should actively respond to it.
https://www.rba.gov.au/publications/rdp/2003/2003-11/introduction.html

Appendix A: Policy Settings for a Bubble that Bursts in the Fifth Year

31 Dec 2003 RDP 2003-11
David Gruen, Michael Plumb and Andrew Stone
RDP 2003-11: How Should Monetary Policy Respond to Asset-Price Bubbles? Appendix A: Policy Settings for a Bubble that Bursts in the Fifth Year. ... time – so that the state of the economy depends on the identity of the policy-maker.
https://www.rba.gov.au/publications/rdp/2003/2003-11/appendix-a.html

Model

31 Dec 2003 RDP 2003-11
David Gruen, Michael Plumb and Andrew Stone
RDP 2003-11: How Should Monetary Policy Respond to Asset-Price Bubbles? 2. ... It assumes, realistically, that monetary policy affects real output, and hence the output gap, with a lag, and that the output gap affects inflation with a further lag.
https://www.rba.gov.au/publications/rdp/2003/2003-11/model.html

References

31 Dec 2003 RDP 2003-11
David Gruen, Michael Plumb and Andrew Stone
RDP 2003-11: How Should Monetary Policy Respond to Asset-Price Bubbles? References. ... prices and monetary policy, Proceedings of a Conference, Reserve Bank of Australia, Sydney, pp 281–285.
https://www.rba.gov.au/publications/rdp/2003/2003-11/references.html

Results

31 Dec 2003 RDP 2003-11
David Gruen, Michael Plumb and Andrew Stone
RDP 2003-11: How Should Monetary Policy Respond to Asset-Price Bubbles? 3. ... not affected by the actions of policy-makers, so that certainty equivalence holds.
https://www.rba.gov.au/publications/rdp/2003/2003-11/results.html

Appendix B: Comparison with Kent and Lowe (1997)

31 Dec 2003 RDP 2003-11
David Gruen, Michael Plumb and Andrew Stone
RDP 2003-11: How Should Monetary Policy Respond to Asset-Price Bubbles? Appendix B: Comparison with Kent and Lowe (1997). ... Recall that it takes two years for policy changes to affect inflation in our model.
https://www.rba.gov.au/publications/rdp/2003/2003-11/appendix-b.html