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RBA Glossary definition for capital market
capital market – A market for medium to long-term financial instruments. Financial instruments traded in the capital market include shares, and bonds issued by the Australian Government, State governments, corporate borrowers and financial institutions.
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The Distributional Effects of Monetary Policy: Evidence from Local Housing Markets
1 Feb 2020
RDP
2020-02
The resulting distribution of price sensitivities across local markets provides information about the factors that link monetary policy and the housing market. ... These spatial deviations in prices are indicative of housing market frictions, as price
https://www.rba.gov.au/publications/rdp/2020/2020-02/full.html
Robustness Tests
14 Feb 2020
RDP
2020-02
RDP 2020-02: The Distributional Effects of Monetary Policy: Evidence from Local Housing Markets 6. ... By removing areas outside of the greater capital cities, the sample of local housing markets is reduced to 156.
https://www.rba.gov.au/publications/rdp/2020/2020-02/robustness-tests.html
Appendix A: Data Description
14 Feb 2020
RDP
2020-02
RDP 2020-02: The Distributional Effects of Monetary Policy: Evidence from Local Housing Markets Appendix A: Data Description. ... income. (a). Per cent. ATO. 2016/17. Share of individuals with net capital.
https://www.rba.gov.au/publications/rdp/2020/2020-02/appendix-a.html
Theoretical Framework
14 Feb 2020
RDP
2020-02
Δ. r. t. ). As such, changes in household discount rates across local housing markets. (. ... Suppose that each market has a different sensitivity to changes in aggregate output growth. (.
https://www.rba.gov.au/publications/rdp/2020/2020-02/theoretical-framework.html
References
14 Feb 2020
RDP
2020-02
RDP 2020-02: The Distributional Effects of Monetary Policy: Evidence from Local Housing Markets References. ... Saunders T and P Tulip (2019), ‘A Model of the Australian Housing Market’, RBA Research Discussion Paper No 2019-01.
https://www.rba.gov.au/publications/rdp/2020/2020-02/references.html
Introduction
14 Feb 2020
RDP
2020-02
What we have is a series of separate, but interconnected, markets.’ (Lowe 2019). ... The resulting distribution of price sensitivities across local markets provides information about the factors that link monetary policy and the housing market.
https://www.rba.gov.au/publications/rdp/2020/2020-02/introduction.html
Heterogeneity in the Sensitivity of Local Housing Prices to Monetary Policy
14 Feb 2020
RDP
2020-02
RDP 2020-02: The Distributional Effects of Monetary Policy: Evidence from Local Housing Markets 4. ... X. i. ,. t. is a vector of controls for both local and aggregate market conditions.
https://www.rba.gov.au/publications/rdp/2020/2020-02/heterogeneity-in-the-sensitivity-of-local-housing-prices-to-monetary-policy.html