Search: 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).
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Aggregate Implications
22 Mar 2023
RDP
2023-03
allow us to understand how aggregate productivity would have evolved had reallocation not slowed. ... larger, aggregate MFP and output growth would have been moderately stronger in each year since 2008.
https://www.rba.gov.au/publications/rdp/2023/2023-03/aggregate-implications.html
Doing Less, with Less: Capital Misallocation, Investment and the Productivity Slowdown in Australia
22 Mar 2023
RDP
2023-03
Table 5: Capital Reallocation by Financial Dependence Regression. Growth in non-current assets. ... MFP. Labour productivity. Most financially dependent quartile. Other financial dependence. Most financially dependent quartile.
https://www.rba.gov.au/publications/rdp/2023/2023-03/full.html
Introduction
22 Mar 2023
RDP
2023-03
Has the reallocation of capital (financial or physical) from less to more productive firms (within industries) slowed, as has been evident with labour? ... There is also some tentative evidence that declining competitive pressures have held back
https://www.rba.gov.au/publications/rdp/2023/2023-03/introduction.html
Understanding the Slowdown
22 Mar 2023
RDP
2023-03
Table 5: Capital Reallocation by Financial Dependence Regression. Growth in non-current assets. ... MFP. Labour productivity. Most financially dependent quartile. Other financial dependence. Most financially dependent quartile.
https://www.rba.gov.au/publications/rdp/2023/2023-03/understanding-the-slowdown.html
Capital Flows, Investment and Productivity
22 Mar 2023
RDP
2023-03
For example, financial frictions that prevent investment may also prevent firms from expanding and therefore slow labour reallocation. ... So not only is aggregate investment falling, proportionately more of it is being done by the least productive firms.
https://www.rba.gov.au/publications/rdp/2023/2023-03/capital-flows-investment-and-productivity.html
Has Capital Reallocation Slowed?
22 Mar 2023
RDP
2023-03
In particular, we examine whether the coefficient changes during the global financial crisis (GFC) (2007/08 to 2010/11), and post-GFC (2011/12 to 2016/17). ... The use of gross investment also links the analysis more directly to the observed slowdown in
https://www.rba.gov.au/publications/rdp/2023/2023-03/has-capital-reallocation-slowed.html
References
22 Mar 2023
RDP
2023-03
La Cava G (2005), ‘Financial Constraints, the User Cost of Capital and Corporate Investment in Australia’, RBA Research Discussion Paper No 2005-12. ... Rajan RG and L Zingales (1998), ‘Financial Dependence and Growth’, The American Economic
https://www.rba.gov.au/publications/rdp/2023/2023-03/references.html
Data
22 Mar 2023
RDP
2023-03
We focus on the non-financial market sector, as is common in the literature, given the difficulty measuring capital and outputs in the finance sector and complexities around the role of
https://www.rba.gov.au/publications/rdp/2023/2023-03/data.html
Appendix B: Additional Results
22 Mar 2023
RDP
2023-03
All non-primary. Most financially dependent quartile. Other financial dependence. Productivity. 0.030. ... Most financially dependent quartile (with R&D). Other financial dependence (with R&D).
https://www.rba.gov.au/publications/rdp/2023/2023-03/appendix-b.html