Search: aggregate demand

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1–7 of 7 collapsed search results for aggregate demand

RBA Glossary definition for aggregate demand

aggregate demand – Gross domestic product as measured by the sum of final expenditure on goods and services produced.

Search Results

Do Monetary Policy and Economic Conditions Impact Innovation? Evidence from Australian Administrative Data

15 Feb 2024 RDP 2024-01
Omer Majeed, Jonathan Hambur and Robert Breunig
We find that contractionary (expansionary) monetary policy reduces (increases) aggregate research and development (R&D) spending, and that lower (higher) R&D spending reduces (increases) future productivity. ... These channels include affecting demand or
https://www.rba.gov.au/publications/rdp/2024/2024-01.html

Do Monetary Policy and Economic Conditions Impact Innovation? Evidence from Australian Administrative Data

15 Feb 2024 RDP 2024-01
Omer Majeed, Jonathan Hambur and Robert Breunig
One is the demand channel: contractionary monetary policy may weaken aggregate demand and therefore lower the returns to innovation. ... Changing aggregate demand in the economy is an important channel for monetary policy.
https://www.rba.gov.au/publications/rdp/2024/2024-01/full.html

Results

15 Feb 2024 RDP 2024-01
Omer Majeed, Jonathan Hambur and Robert Breunig
100 basis point contractionary shock. Notes: Results from local projection model of aggregate innovation metrics on monetary policy shock. ... factors such as aggregate demand.
https://www.rba.gov.au/publications/rdp/2024/2024-01/results.html

Introduction

15 Feb 2024 RDP 2024-01
Omer Majeed, Jonathan Hambur and Robert Breunig
The channels we explore include: weaker demand, which lowers incentives to innovate; and tighter credit conditions, which make it harder to finance investment and innovation. ... We then consider the aggregate effect of changes in R&D spending on
https://www.rba.gov.au/publications/rdp/2024/2024-01/introduction.html

Literature Review

15 Feb 2024 RDP 2024-01
Omer Majeed, Jonathan Hambur and Robert Breunig
They find that R&D and patenting are more responsive to monetary policy shocks in cyclical industries, suggesting monetary policy affects innovation by influencing demand conditions – the demand channel. ... Footnote. In a related literature,
https://www.rba.gov.au/publications/rdp/2024/2024-01/literature-review.html

Do Monetary Policy and Economic Conditions Impact Innovation? Evidence from Australian Administrative Data

15 Feb 2024 RDP 2024-01
Omer Majeed, Jonathan Hambur and Robert Breunig
patent-party-activity. trade-mark-application. trade-mark-party-activity. Local projections.do: local projections for aggregate metrics – Figure 1. ... 02 Baseline regs.do: baseline regressions and robustness. 03 demand channel.do: regressions by
https://www.rba.gov.au/publications/rdp/2024/2024-01/read-me.html

Through Which Channels Does Monetary Policy Affect Innovation?

15 Feb 2024 RDP 2024-01
Omer Majeed, Jonathan Hambur and Robert Breunig
One is the demand channel: contractionary monetary policy may weaken aggregate demand and therefore lower the returns to innovation. ... Changing aggregate demand in the economy is an important channel for monetary policy.
https://www.rba.gov.au/publications/rdp/2024/2024-01/through-which-channels-does-monetary-policy-affect-innovation.html