Search: financial aggregates

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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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The Relationship between Financial Indicators and Economic Activity: Some Further Evidence

1 Jun 1989 RDP 8903
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/1989/8903.html

Appendix C: Data

1 Jun 1989 RDP 8903
Glenn Stevens and Susan Thorp
RDP 8903: The Relationship Between Financial Indicators and Economic Activity: Some Further Evidence Appendix C: Data. ... This raises the issue of adjustments to financial aggregates to allow for the effects of new banks.
https://www.rba.gov.au/publications/rdp/1989/8903/appendix-c.html

The External Sector

1 Jun 1989 RDP 8903
Glenn Stevens and Susan Thorp
RDP 8903: The Relationship Between Financial Indicators and Economic Activity: Some Further Evidence 5. ... With respect to financial aggregates, we confined attention to M1 and M3, since there are really too few observations available on the broader
https://www.rba.gov.au/publications/rdp/1989/8903/external-sector.html

Appendix B: Tests using Alternative Data

1 Jun 1989 RDP 8903
Glenn Stevens and Susan Thorp
RDP 8903: The Relationship Between Financial Indicators and Economic Activity: Some Further Evidence Appendix B: Tests using Alternative Data. ... There are few significant differences. If anything, the evidence for measures of activity leading the
https://www.rba.gov.au/publications/rdp/1989/8903/appendix-b.html

Introduction

1 Jun 1989 RDP 8903
Glenn Stevens and Susan Thorp
RDP 8903: The Relationship Between Financial Indicators and Economic Activity: Some Further Evidence 1. ... Broad monetary and credit aggregates tended to be at best coincident with activity, if not lagging.
https://www.rba.gov.au/publications/rdp/1989/8903/introduction.html

References

1 Jun 1989 RDP 8903
Glenn Stevens and Susan Thorp
RDP 8903: The Relationship Between Financial Indicators and Economic Activity: Some Further Evidence References. ... 8805. Bullock, M., G. Stevens and S. Thorp (1988) “Do Financial Aggregates lead Activity?
https://www.rba.gov.au/publications/rdp/1989/8903/references.html

Conclusions

1 Jun 1989 RDP 8903
Glenn Stevens and Susan Thorp
RDP 8903: The Relationship Between Financial Indicators and Economic Activity: Some Further Evidence 6. ... No consistent leading or lagging relationship for the narrower aggregates could be found using this methodology.
https://www.rba.gov.au/publications/rdp/1989/8903/conclusions.html

Data

1 Jun 1989 RDP 8903
Glenn Stevens and Susan Thorp
lending/credit aggregates bank lending, lending by all financial intermediaries (AFI lending) and credit; and. ... On the basis of the test results, which suggested the presence of unit roots, all the data on indicators of activity and financial
https://www.rba.gov.au/publications/rdp/1989/8903/data.html

VAR Estimation Results

1 Jun 1989 RDP 8903
Glenn Stevens and Susan Thorp
Both nominal and real GDP are tested. The table shows results over two time periods for the narrow financial aggregates and interest rates: 1969–88, and 1978–88. ... There are a number of instances of complex relationships between the bill rate and
https://www.rba.gov.au/publications/rdp/1989/8903/var-estimation-results.html

Background

1 Jun 1989 RDP 8903
Glenn Stevens and Susan Thorp
RDP 8903: The Relationship Between Financial Indicators and Economic Activity: Some Further Evidence 2. ... where economic activity was explained (in part) by lags of a monetary aggregate.
https://www.rba.gov.au/publications/rdp/1989/8903/background.html