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11–20 of 20 collapsed search results for monetary policy

RBA Glossary definition for monetary policy

monetary policy – monetary policy involves using interest rates to influence aggregate demand, employment and inflation in the economy.

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Literature Review

1 Apr 2021 RDP 2021-04
Calvin He
These results are consistent with the idea that monetary policy surprises contain information about the economy. ... The findings also suggest that the information effect could indeed be a powerful channel of monetary policy.
https://www.rba.gov.au/publications/rdp/2021/2021-04/literature-review.html

Non-technical summary for ‘Monetary Policy, Equity Markets and the Information Effect’

23 Mar 2021 RDP 2021-04
Calvin He
Download the Non-technical summary 396. KB. How monetary policy affects the economy is a central question in macroeconomics. ... The findings of this paper have implications for the conduct of monetary policy in Australia.
https://www.rba.gov.au/publications/rdp/2021/2021-04/non-technical-summary.html

Data and Method

1 Apr 2021 RDP 2021-04
Calvin He
I use the same time window used to calculate the monetary policy surprises. ... Prior to 2008, the RBA announced monetary policy decisions at 9.30 am.
https://www.rba.gov.au/publications/rdp/2021/2021-04/data-and-method.html

Appendix B: Regression Output

1 Apr 2021 RDP 2021-04
Calvin He
RDP 2021-04: Monetary Policy, Equity Markets and the Information Effect Appendix B: Regression Output. ... One-year-ahead earnings growth. Long-term earnings growth. Monetary policy surprise. Cash rate.
https://www.rba.gov.au/publications/rdp/2021/2021-04/appendix-b.html

Beyond Board Meetings

1 Apr 2021 RDP 2021-04
Calvin He
However, this does not reflect the only way monetary policy in Australia could be communicated. ... monetary policy, speeches by the Governor in this case, can produce an information effect.
https://www.rba.gov.au/publications/rdp/2021/2021-04/beyond-board-meetings.html

Robustness and Extensions

1 Apr 2021 RDP 2021-04
Calvin He
To examine this, I allow the coefficient on unexpected changes in monetary policy. (. ... not. Figure 17: Response of ASX 200 Earnings Growth Forecasts to Monetary Policy.
https://www.rba.gov.au/publications/rdp/2021/2021-04/robustness-and-extensions.html

Supplementary Information for RDP 2021-04: Monetary Policy, Equity Markets and the Information Effect

22 Apr 2021 RDP 2021-04
Calvin He
Research Discussion Paper – RDP 2021-04 Monetary Policy, Equity Markets and the Information Effect.
https://www.rba.gov.au/publications/rdp/2021/2021-04/supplementary-information.html

Policy Rule Changes or Deviations?

1 Apr 2021 RDP 2021-04
Calvin He
However, it remains unclear whether the monetary policy surprises identified reflect deviations from a policy rule. (. ... The results provide little evidence that the monetary policy surprise series can be predicted by unemployment, GDP or inflation news
https://www.rba.gov.au/publications/rdp/2021/2021-04/policy-rule-changes-or-deviations.html

Discussion, Limitations and Future Research

1 Apr 2021 RDP 2021-04
Calvin He
This paper's findings have implications for the conduct of monetary policy in Australia. ... model) would be useful in better understanding how monetary policy propagates through equity markets.
https://www.rba.gov.au/publications/rdp/2021/2021-04/discussion-limitations-and-future-research.html

The Information Effect and Equity Prices

1 Apr 2021 RDP 2021-04
Calvin He
And that these interpretations may not resemble the true reason for the changes in monetary policy. ... t. ). Firstly, I evaluate the response of equity prices to changes in monetary policy.
https://www.rba.gov.au/publications/rdp/2021/2021-04/the-information-effect-and-equity-prices.html