Search Results
1 Jan 1988
RDP
8803
Michele Bullock, Glenn Stevens and Susan Thorp
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1988/8803.html
1 Jan 1988
RDP
8803
Michele Bullock, Glenn Stevens and Susan Thorp
Islam, S. (1982). “Monetary and Credit Aggregates and Economic Activity: Evidence from Germany, Japan and the United States”. ... Empirical Comparisons of Credit and Monetary Aggregates Using Vector Autoregression Methods”.
https://www.rba.gov.au/publications/rdp/1988/8803/references.html
1 Jan 1988
RDP
8803
Michele Bullock, Glenn Stevens and Susan Thorp
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1988/8803/
1 Jan 1988
RDP
8803
Michele Bullock, Glenn Stevens and Susan Thorp
Davis qualifies this conclusion, however, by noting that where innovation distorts the monetary aggregates, broad credit aggregates may become more useful as financial indicators. ... Fackler and Silver (1982) also conclude that although history provides
https://www.rba.gov.au/publications/rdp/1988/8803/overseas-experience.html
1 Jan 1988
RDP
8803
Michele Bullock, Glenn Stevens and Susan Thorp
The general tenor of the results is that monetary and credit aggregates move with, or may lag, movements in activity, and hence are more likely to be driven by nominal activity ... The financial aggregates considered are:. M3 and broad money, the two
https://www.rba.gov.au/publications/rdp/1988/8803/empirical-analysis-for-australia.html
1 Jan 1988
RDP
8803
Michele Bullock, Glenn Stevens and Susan Thorp
On balance, the analysis suggests, then, that money and credit aggregates are probably contemporaneous or lagging indicators of activity. ... While the structural relationship between financial aggregates, activity and interest rates is no doubt
https://www.rba.gov.au/publications/rdp/1988/8803/concluding-comments.html
1 Jan 1988
RDP
8803
Michele Bullock, Glenn Stevens and Susan Thorp
Laidler, 1985) that argues that monetary aggregates are linked with spending through a real balance effect. ... Footnote. This criticism of monetary targeting has become known as Goodhart's Law.
https://www.rba.gov.au/publications/rdp/1988/8803/relationships-between-money-credit-and-activity.html