Search: monetary aggregates
RBA Glossary definition for monetary aggregates
monetary aggregates – A series of measures of the values of currency on issue, current deposits with banks, other deposits with banks, plus borrowings from the private sector by non-bank financial institutions (NBFIs) less currency and bank deposits by NBFIs. Components consist of: 'M1' defined as currency plus bank current deposits from the private non-bank sector; 'M3' defined as M1 plus all other authorised deposit-taking institution (ADI) deposits from the private non-ADI sector, plus certificates of deposit issued by banks, less ADI deposits held with one another; 'Broad money' defined as M3 plus other short-term liquid AFI liabilities held by the private sector, except those held by other AFIs ; 'Money base' defined as holdings of banknotes and coins by the private sector plus deposits of banks with the Reserve Bank of Australia (RBA) and other RBA liabilities to the private non-bank sector
Search Results
The Information Content of Financial Aggregates in Australia
1 Dec 2009
RDP
PDF
278KB
provides directly interpretable results for examining whether a monetary aggregate contributesforecasting power for real output and inflation. ... 13. change in the interest rate, monetary aggregate growth, inflation, and real outputgrowth.14.
https://www.rba.gov.au/publications/rdp/1996/pdf/rdp9606.pdf
Aggregate Effects of Covenant Composition
25 Oct 2022
RDP
2022-05
composition of covenants to capture the average partial response to a monetary policy shock. ... I examine how this has changed over time to quantify how changes in composition affected monetary policy pass-through.
https://www.rba.gov.au/publications/rdp/2022/2022-05/aggregate-effects-of-covenant-composition.html
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References
19 Dec 2023
RDP
2023-09
RDP 2023-09: Does Monetary Policy Affect Non-mining Business Investment in Australia? ... Beckers B (2020), ‘Credit Spreads, Monetary Policy and the Price Puzzle’, RBA Research Discussion Paper No 2020-01.
https://www.rba.gov.au/publications/rdp/2023/2023-09/references.html
MARTIN Has Its Place: A Macroeconometric Model of the Australian Economy
1 Aug 2019
RDP
2019-07
MARTIN captures many features of the Australian economy and monetary policy transmission mechanism. ... Examining variables in a system allows us to isolate the roles that individual channels play in determining aggregate economic outcomes, and aids our
https://www.rba.gov.au/publications/rdp/2019/2019-07/full.html
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Read me file for Does Monetary Policy Affect Non-mining Business Investment in Australia? Evidence from BLADE
10 Dec 2023
RDP
PDF
160KB
RDP 2023-09 supplementary information
https://www.rba.gov.au/publications/rdp/2023/2023-09/rdp-2023-09-read-me.pdf
Explaining Monetary Spillovers: The Matrix Reloaded
24 Apr 2019
RDP
2019-03
financial markets, interest rates, monetary policy, money, open economy. Using monetary policy shocks for 7 advanced economy central banks, measured at high frequency, we document the strength and characteristics of interest ... Economies that have
https://www.rba.gov.au/publications/rdp/2019/2019-03.html
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Direct Effects of Money on Aggregate Demand: Another Look at the Evidence
26 Aug 2010
RDP
PDF
179KB
The empirical evidence is mixed. Rudebusch and Svensson (1999, 2002) find littlerole for monetary aggregates in empirical aggregate demand specifications, whileFavara and Giordani (2009) find that shocks to broad monetary aggregates ... Nelson E (2003),
https://www.rba.gov.au/publications/rdp/2010/pdf/rdp2010-05.pdf
The Demand for Money in Australia: New Tests on an Old Topic
30 Nov 2009
RDP
PDF
135KB
invelocity that have affected all the monetary aggregates at one time or another. ... These last four monetary aggregates are shown inFigure 5. Figure 5: Real Monetary Aggregates.
https://www.rba.gov.au/publications/rdp/1993/pdf/rdp9314.pdf
The Impact of Interest Rates on Bank Profitability: A Retrospective Assessment Using New Cross-country Bank-level Data
8 Jun 2023
RDP
PDF
1310KB
Keywords: interest rates, bank profitability, net interest margin, monetary policy. Table of Contents. ... et al (2017), while aggregate banking conditions might affect the stance of monetary policy, the.
https://www.rba.gov.au/publications/rdp/2023/pdf/rdp2023-05.pdf
Does Monetary Policy Affect Non-mining Business Investment in Australia? Evidence from BLADE
21 Sep 2023
RDP
2023-09
This can make it hard to identify the effect of monetary policy on investment using aggregate data. ... However, when using the aggregate investment deflator we find little evidence that contractionary monetary policy shocks lower the price of investment
https://www.rba.gov.au/publications/rdp/2023/2023-09/full.html
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