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Monetary Transmission in a Deregulated Financial System

19 Nov 2012 RDP PDF 825KB
textbook models - a liquid (in the sense of ease of making transactions) asset. ... as "money" in the Tobin-type framework do not resemble at all the textbook.
https://www.rba.gov.au/publications/rdp/1988/pdf/rdp8811.pdf

Non-technical summary for 'The Well-meaning Economist'

5 Sep 2019 RDP PDF 347KB
RDP 2019-08 non-technical summary
https://www.rba.gov.au/publications/rdp/2019/2019-08/rdp-2019-08-non-technical-summary.pdf

Exchange Rates and Crises

28 Feb 2001 Bulletin PDF 62KB
If all this sounds a bit textbook-ish, considerthe experience of Singapore. ... I shouldremind you also that all these countries ran,in the textbook sense, ‘good’ deficits – i.e.
https://www.rba.gov.au/publications/bulletin/1998/feb/pdf/bu-0298-3.pdf

Non-technical summary for 'Job Loss, Subjective Expectations and Household Spending'

12 Aug 2021 RDP PDF 422KB
RDP 2021-08 non-technical summary
https://www.rba.gov.au/publications/rdp/2021/2021-08/rdp-2021-08-non-technical-summary.pdf

The Link between the Cash Rate and Market Interest Rates

1 Dec 2009 RDP PDF 179KB
In textbook discussions of the monetary transmission mechanism, the focus istypically on the relationship between "the" interest rate and the real economy. ... This explanation of widening spreads, as does the explanation based on changes inthe structure
https://www.rba.gov.au/publications/rdp/1995/pdf/rdp9504.pdf

Statement to Parliamentary Committee

22 Feb 2001 Bulletin PDF 25KB
This is theway the textbooks say the situation should behandled, and is in sharp contrast to the severedomestic squeeze that can result in the casesof countries with fixed or quasi-fixed
https://www.rba.gov.au/publications/bulletin/1999/jan/pdf/bu-0199-3.pdf

Capital Flows and Crises

26 Feb 2001 Bulletin PDF 91KB
A disequilibrium processThese capital-receiving emerging countries. were being transformed at such a pace that itis not sensible or realistic to see the process interms of the usual textbook notions of ... To make matters worse,these forced sales took
https://www.rba.gov.au/publications/bulletin/1998/dec/pdf/bu-1298-3.pdf

The Resources Boom

16 Mar 2011 Bulletin PDF 122KB
Remarks at the Victoria University Public Conference on the Resources Boom: Understanding National and Regional Implications, Melbourne, 23 February 2011
https://www.rba.gov.au/publications/bulletin/2011/mar/pdf/bu-0311-10.pdf

Can We Use High-frequency Yield Data to Better Understand the Effects of Monetary Policy and Its Communication? Yes and No!

1 May 2023 RDP PDF 1465KB
shocks affect the economy like textbook monetary policy shocks. Path shocks appear to capture.
https://www.rba.gov.au/publications/rdp/2023/pdf/rdp2023-04.pdf

The Unit-effect Normalisation in Set-identified Structural Vector Autoregressions

6 Oct 2022 RDP PDF 2224KB
Interestingly, conventional. macroeconomic theory also does not rule out this non-response; in the textbook New Keynesian model.
https://www.rba.gov.au/publications/rdp/2022/pdf/rdp2022-04.pdf