Search: financial aggregates

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1–7 of 7 collapsed search results for financial aggregates

RBA Glossary definition for financial aggregates

financial aggregates – A Reserve Bank of Australia data series specifying measures of the supply of money and credit. It includes some or all of: currency on issue; current deposits with banks; other deposits of the private non-bank sector with banks; borrowings from the private sector by non-bank depository corporations; and credit (loans, advances and bills discounted to the private sector).

Search Results

Do Interest Rates Affect Business Investment? Evidence from Australian Company-level Data

9 May 2018 RDP 2018-05
Jonathan Hambur and Gianni La Cava
Also, since the global financial crisis, the spread between the rates paid by companies at the top and bottom of the distribution has widened. ... Borrowing rates for a large portion of companies, including smaller and riskier ones, have remained high in
https://www.rba.gov.au/publications/rdp/2018/2018-05.html

Do Interest Rates Affect Business Investment? Evidence from Australian Company-level Data

1 Apr 2018 RDP 2018-05
Jonathan Hambur and Gianni La Cava
Also, our estimates indicate that aggregate investment by non-financial non-resource listed companies is equivalent to around half of total capital expenditure by non-resource companies in Australia. ... This additional detail is lost when focusing on
https://www.rba.gov.au/publications/rdp/2018/2018-05/full.html

Reduced-form Model

6 May 2018 RDP 2018-05
Jonathan Hambur and Gianni La Cava
The time fixed effects capture aggregate influences, such as the business cycle, aggregate uncertainty and economy-wide changes in the relative price of capital goods. ... We take the rate payable at the end of the financial year to be the marginal rate
https://www.rba.gov.au/publications/rdp/2018/2018-05/reduced-form-model.html

Introduction

6 May 2018 RDP 2018-05
Jonathan Hambur and Gianni La Cava
More generally, modelling business investment is inherently difficult, particularly with aggregate time-series data (e.g. ... This reverse causality makes it harder to identify a negative correlation between interest rates and investment using aggregate
https://www.rba.gov.au/publications/rdp/2018/2018-05/introduction.html

References

6 May 2018 RDP 2018-05
Jonathan Hambur and Gianni La Cava
Mills K, S Morling and W Tease (1994), ‘The Influence of Financial Factors on Corporate Investment’, RBA Research Discussion Paper No 9402. ... Peters RH and LA Taylor (2016), ‘Intangible Capital and the Investment-q Relation’, Journal of
https://www.rba.gov.au/publications/rdp/2018/2018-05/references.html

Data and Stylised Facts

6 May 2018 RDP 2018-05
Jonathan Hambur and Gianni La Cava
Also, our estimates indicate that aggregate investment by non-financial non-resource listed companies is equivalent to around half of total capital expenditure by non-resource companies in Australia. ... This additional detail is lost when focusing on
https://www.rba.gov.au/publications/rdp/2018/2018-05/data-and-stylised-facts.html

Appendix B: Tobin's q Models

6 May 2018 RDP 2018-05
Jonathan Hambur and Gianni La Cava
Download the Paper 1,258. KB. The use of company-level data helps to ameliorate endogeneity that arises from the mismeasurement of aggregate economic investment fundamentals, as we can use time ... where the market value of equity is calculated by
https://www.rba.gov.au/publications/rdp/2018/2018-05/appendix-b.html