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RBA Glossary definition for international reserves

international reserves – Holdings by a central bank of foreign exchange and gold.

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The Cost of Equity Capital in Australia: What Can We Learn from International Equity Returns?

1 Sep 1991 RDP 9107
Anthony J. Richards
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1991/9107.html

The Cost of Equity Capital in Australia: What can we Learn from International Equity Returns?

1 Sep 1991 RDP 9107
Anthony J. Richards
https://www.rba.gov.au/publications/rdp/1991/9107/

Conclusion

1 Sep 1991 RDP 9107
Anthony J. Richards
RDP 9107: The Cost of Equity Capital in Australia: What can we Learn from International Equity Returns? ... Accordingly this paper has also estimated a version of the International Asset Pricing Model.
https://www.rba.gov.au/publications/rdp/1991/9107/conclusion.html

Discussion

1 Sep 1991 RDP 9107
Anthony J. Richards
RDP 9107: The Cost of Equity Capital in Australia: What can we Learn from International Equity Returns? ... Footnotes. French and Poterba (1991) show that international investment is a far smaller proportion of total wealth than is implied by standard
https://www.rba.gov.au/publications/rdp/1991/9107/discussion.html

Estimates of the IAPM

1 Sep 1991 RDP 9107
Anthony J. Richards
RDP 9107: The Cost of Equity Capital in Australia: What can we Learn from International Equity Returns? ... Wool was excluded since the reserve price scheme (which was set in Australian dollars) could induce spurious correlation with the exchange rate.
https://www.rba.gov.au/publications/rdp/1991/9107/estimates-of-the-iapm.html

Introduction

1 Sep 1991 RDP 9107
Anthony J. Richards
RDP 9107: The Cost of Equity Capital in Australia: What can we Learn from International Equity Returns? ... For its theoretical framework, this method draws on the Capital Asset Pricing Model (CAPM), the Arbitrage Pricing Theory (APT) model, and their
https://www.rba.gov.au/publications/rdp/1991/9107/introduction.html

The Cost of Equity – Theory

1 Sep 1991 RDP 9107
Anthony J. Richards
RDP 9107: The Cost of Equity Capital in Australia: What can we Learn from International Equity Returns? ... Subsequently, Solnik (1983) also extended the Arbitrage Pricing Theory (APT) model into an international context (IAPT).
https://www.rba.gov.au/publications/rdp/1991/9107/cost-of-equity-theory.html

Measures of the Cost of Equity

1 Sep 1991 RDP 9107
Anthony J. Richards
RDP 9107: The Cost of Equity Capital in Australia: What can we Learn from International Equity Returns? ... All interest rate data are from OECD Main Economic Indicators and the IMF International Financial Statistics.
https://www.rba.gov.au/publications/rdp/1991/9107/measures-of-the-cost-of-equity.html

References

1 Sep 1991 RDP 9107
Anthony J. Richards
McCauley, R.N. and S.A. Zimmer (1989), “Explaining International Differences in the Cost of Capital”, Federal Reserve Bank of New York, Research Discussion Paper 8913. ... Solnik, B.H. (1983), “International Arbitrage Pricing Theory”, Journal of
https://www.rba.gov.au/publications/rdp/1991/9107/references.html

Data – Stockmarket Returns

1 Sep 1991 RDP 9107
Anthony J. Richards
RDP 9107: The Cost of Equity Capital in Australia: What can we Learn from International Equity Returns? ... To enable comparison across countries, the accumulation indices were converted into a common currency, the Special Drawing Right (SDR) of the
https://www.rba.gov.au/publications/rdp/1991/9107/data-stockmarket-returns.html