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RBA Glossary definition for floating exchange rate
floating exchange rate – Exchange rates determined by market forces based on the demand for and supply of a currency.
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Estimating the Effects of Monetary Policy in Australia Using Sign-restricted Structural Vector Autoregressions
3 Jan 2023
RDP
2022-09
The estimation sample begins in the March quarter 1984 (following the floating of Australia's exchange rate in December 1983) and ends in the December quarter 2019 (before the onset of ... Note that the responses of output and the exchange rate are left
https://www.rba.gov.au/publications/rdp/2022/2022-09/full.html
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The Yield and Market Function Effects of the Reserve Bank of Australia's Bond Purchases
24 May 2022
RDP
2022-02
OIS rates provide a measure of market expectations for the evolution of the cash rate, and so can be used as at least a partial control to isolate the effect of ... As noted earlier, OIS rates provide a measure of market expectations for the evolution of
https://www.rba.gov.au/publications/rdp/2022/2022-02/full.html
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References
9 Dec 2019
RDP
2019-11
Mehrotra A and JR Sánchez-Fung (2010), ‘China's Monetary Policy and the Exchange Rate’, Comparative Economic Studies, 52(4), pp 497–514. ... PBC (People's Bank of China) (2005), ‘Public Announce of the People's Bank of China on Reforming the RMB
https://www.rba.gov.au/publications/rdp/2019/2019-11/references.html
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Australian Equity Market Facts: 1917–2019
19 Jun 2019
RDP
2019-04
The profits of Australian Guarantee Corporation (the largest hire purchase company on the Sydney Stock Exchange) increased at an annual rate of 30 per cent between 1955 and 1975, and its ... This may reflect that the Sydney Stock Exchange had fewer
https://www.rba.gov.au/publications/rdp/2019/2019-04/australian-equity-market-facts-1917-2019.html
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Data and Stylised Facts
6 May 2018
RDP
2018-05
Some report the ultimate rate they face, while others report rates on the borrowing, as well as on the fixed- and floating-rate legs of their swaps. ... This suggests that declines in the cash rate in recent years have not necessarily flowed through to
https://www.rba.gov.au/publications/rdp/2018/2018-05/data-and-stylised-facts.html
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The Model
22 Nov 2016
RDP
2016-07
Each market could represent a particular product: one market might represent 10-year Australian dollar-denominated fixed-for-floating interest rate swaps; another, 1-year Japanese yen-denominated overnight index swaps; ... β. 0.9975. Discount rate. σ. A
https://www.rba.gov.au/publications/rdp/2016/2016-07/model.html
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Implications
1 Jul 2016
RDP
2016-05
RDP 2016-05: Trade Invoicing Currency and First-stage Exchange Rate Pass-through 5. ... prices. Devereux and Engel (2003) argue that this weakens the stabilisation role of floating exchange rates.
https://www.rba.gov.au/publications/rdp/2016/2016-05/implications.html
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Introduction
31 Dec 2015
RDP
2015-12
2013). In particular, the floating exchange rate has played a crucial role in buffering the Australian economy from external shocks, in part by allowing the Reserve Bank of Australia (RBA) to ... In part, this variation reflects well-documented
https://www.rba.gov.au/publications/rdp/2015/2015-12/introduction.html
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References
31 Dec 2014
RDP
2014-11
Sectoral Effects of the Exchange Rate Shocks’, Reserve Bank of New Zealand Discussion Paper Series DP2013/05. ... Lubik T and F Schorfheide (2007), ‘Do Central Banks Respond to Exchange Rate Movements?
https://www.rba.gov.au/publications/rdp/2014/2014-11/references.html
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China's Financial System Reforms
31 Dec 2014
RDP
2014-10
Moves to increase the flexibility of interest rates occurred alongside changes to exchange rate policy. ... is similar to most countries with floating exchange rates.
https://www.rba.gov.au/publications/rdp/2014/2014-10/chi-fin-sys-reforms.html
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