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RBA Glossary definition for central bank

central bank – A non-commercial bank, which may or may not be independent of government, which has some or all of the following functions: conduct monetary policy; oversee the stability of the financial system; issue currency notes; act as banker to the government; supervise financial institutions and regulate payments systems.

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Appendix A: Deriving the Feige Steady-state Equation

1 Dec 2015 RDP 2015-10
Alexandra Rush
returned to the central bank for destruction by time s, I(s) is the number of new banknotes issued by the central bank by time s, and γ (s) equals the ... Reserve Bank of Australia, 2001–2024. All rights reserved. The Reserve Bank of Australia
https://www.rba.gov.au/publications/rdp/2015/2015-10/appendix-a.html

The Life of Australian Banknotes

3 Sep 2015 RDP 2015-10
Alexandra Rush
Views expressed in this paper are those of the authors and not necessarily those of the Reserve Bank. ... Use of any results from this paper should clearly attribute the work to the authors and not to the Reserve Bank of Australia.
https://www.rba.gov.au/publications/rdp/2015/2015-10/

The Life of Australian Banknotes

3 Sep 2015 RDP 2015-10
Alexandra Rush
These models can produce estimates of central tendency that are much less volatile over time and provide information on the probability that banknotes survive over time. ... Reserve Bank of Australia, 2001–2024. All rights reserved. The Reserve Bank of
https://www.rba.gov.au/publications/rdp/2015/2015-10.html

Introduction

1 Dec 2015 RDP 2015-10
Alexandra Rush
Another limitation is that these methods can only be used to study measures of central tendency, including the mean or median banknote life. ... A better alternative is to develop survival models that can provide both measures of central tendency and
https://www.rba.gov.au/publications/rdp/2015/2015-10/introduction.html

Background

1 Dec 2015 RDP 2015-10
Alexandra Rush
Following these seasonal peaks, banknotes in excess of the general public's requirements (‘surplus fit’ banknotes) are returned to the Reserve Bank of Australia (RBA) to be reissued at a later ... Measures of the central tendency of a banknote's
https://www.rba.gov.au/publications/rdp/2015/2015-10/background.html

Conclusion

1 Dec 2015 RDP 2015-10
Alexandra Rush
Although the survival models are more complex, they can be used to produce a range of interesting metrics other than the simple measures of central tendency, allowing a more in-depth ... Reserve Bank of Australia, 2001–2024. All rights reserved. The
https://www.rba.gov.au/publications/rdp/2015/2015-10/conclusion.html

Survival Modelling

1 Dec 2015 RDP 2015-10
Alexandra Rush
Distribution policy. The change to cash management practises in 2001 involved the transfer of precautionary holdings from the RBA to the commercial banks. ... Derivations of the associated hazard function, destruction function and measures of central
https://www.rba.gov.au/publications/rdp/2015/2015-10/survival-modelling.html