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30 Aug 2010
RDP
2010-05
Stephen Elias and Mariano Kulish
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/2010/2010-05.html
31 Dec 2010
RDP
2010-05
Stephen Elias and Mariano Kulish
It is possible to augment this system of three equations and track monetary aggregates, but adding such an equation – whatever it may be – does not give money any direct effect over ... The empirical evidence is mixed. Rudebusch and Svensson (1999,
https://www.rba.gov.au/publications/rdp/2010/2010-05/introduction.html
31 Dec 2010
RDP
2010-05
Stephen Elias and Mariano Kulish
Nelson E (2002), ‘Direct Effects of Base Money on Aggregate Demand: Theory and Evidence’, Journal of Monetary Economics, 49(4), pp 687–708. ... Nelson E (2003), ‘The Future of Monetary Aggregates in Monetary Policy Analysis’, Journal of
https://www.rba.gov.au/publications/rdp/2010/2010-05/references.html
31 Dec 2010
RDP
2010-05
Stephen Elias and Mariano Kulish
RDP 2010-05: Direct Effects of Money on Aggregate Demand: Another Look at the Evidence 5. ... Monetary authorities in these economies have turned to unconventional monetary policies which involve balance sheet expansions of one form or another.
https://www.rba.gov.au/publications/rdp/2010/2010-05/conclusion.html
31 Dec 2010
RDP
2010-05
Stephen Elias and Mariano Kulish
RDP 2010-05: Direct Effects of Money on Aggregate Demand: Another Look at the Evidence 2. ... Download the Paper 180. KB. We follow Nelson (2002) and estimate empirical aggregate demand specifications in which a measure of de-trended real output, ỹ.
https://www.rba.gov.au/publications/rdp/2010/2010-05/empirical-analysis.html
31 Dec 2010
RDP
2010-05
Stephen Elias and Mariano Kulish
RDP 2010-05: Direct Effects of Money on Aggregate Demand: Another Look at the Evidence 3. ... Equation (9) is the household's first-order condition for capital accumulation. Equation (10) is the monetary policy rule.
https://www.rba.gov.au/publications/rdp/2010/2010-05/extended-keynesian-model.html
31 Dec 2010
RDP
2010-05
Stephen Elias and Mariano Kulish
RDP 2010-05: Direct Effects of Money on Aggregate Demand: Another Look at the Evidence Appendix A: Data Description and Sources. ... Money: The St. Louis adjusted monetary base series (Federal Reserve Bank of St.
https://www.rba.gov.au/publications/rdp/2010/2010-05/appendix-a.html