Search: monetary policy

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1–10 of 17 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.

Search Results

The Distributional Effects of Monetary Policy: Evidence from Local Housing Markets

1 Feb 2020 RDP 2020-02
Calvin He and Gianni La Cava
This information could be important to take into account when setting monetary policy. ... β. i. ). is that monetary policy does not respond to local housing shocks. (.
https://www.rba.gov.au/publications/rdp/2020/2020-02/full.html

The Distributional Effects of Monetary Policy: Evidence from Local Housing Markets

17 Feb 2020 RDP 2020-02
Calvin He and Gianni La Cava
Research Discussion Paper – RDP 2020-02 The Distributional Effects of Monetary Policy: Evidence from Local Housing Markets. ... Taken together, this suggests that the state of the economy can affect the sensitivity of housing prices to monetary policy.
https://www.rba.gov.au/publications/rdp/2020/2020-02.html

Heterogeneity in the Sensitivity of Local Housing Prices to Monetary Policy

14 Feb 2020 RDP 2020-02
Calvin He and Gianni La Cava
Specifically, investor-dense regions appear to be more sensitive to changes in monetary policy. ... Third, regions with relatively high average incomes display stronger responses to monetary policy.
https://www.rba.gov.au/publications/rdp/2020/2020-02/heterogeneity-in-the-sensitivity-of-local-housing-prices-to-monetary-policy.html

Data

14 Feb 2020 RDP 2020-02
Calvin He and Gianni La Cava
RDP 2020-02: The Distributional Effects of Monetary Policy: Evidence from Local Housing Markets 3. ... The sample period roughly aligns with the introduction of inflation targeting in Australia, so our analysis should not be affected by changes in
https://www.rba.gov.au/publications/rdp/2020/2020-02/data.html

Introduction

14 Feb 2020 RDP 2020-02
Calvin He and Gianni La Cava
This information could be important to take into account when setting monetary policy. ... 2019). We then directly study the effects of monetary policy on housing wealth inequality.
https://www.rba.gov.au/publications/rdp/2020/2020-02/introduction.html

The Distributional Effects of Monetary Policy on Housing Wealth

14 Feb 2020 RDP 2020-02
Calvin He and Gianni La Cava
This is to prevent endogenous changes in price groups driven by monetary policy. ... The differential effects of monetary policy changes on housing prices appear to be temporary.
https://www.rba.gov.au/publications/rdp/2020/2020-02/the-distributional-effects-of-monetary-policy-on-housing-wealth.html

Appendix A: Data Description

14 Feb 2020 RDP 2020-02
Calvin He and Gianni La Cava
RDP 2020-02: The Distributional Effects of Monetary Policy: Evidence from Local Housing Markets Appendix A: Data Description.
https://www.rba.gov.au/publications/rdp/2020/2020-02/appendix-a.html

Robustness Tests

14 Feb 2020 RDP 2020-02
Calvin He and Gianni La Cava
Following Romer and Romer (2004), we estimate a series of monetary policy ‘shocks’. ... Substituting the monetary policy shocks. (. ε. t. m. ). in place for cash rate changes. (.
https://www.rba.gov.au/publications/rdp/2020/2020-02/robustness-tests.html

The Distributional Effects of Monetary Policy: Evidence from Local Housing Markets

1 Feb 2020 RDP 2020-02
Calvin He and Gianni La Cava
Research Discussion Paper – RDP 2020-02 The Distributional Effects of Monetary Policy: Evidence from Local Housing Markets.
https://www.rba.gov.au/publications/rdp/2020/2020-02/sections.html

Appendix B: Kendall and Tulip

14 Feb 2020 RDP 2020-02
Calvin He and Gianni La Cava
RDP 2020-02: The Distributional Effects of Monetary Policy: Evidence from Local Housing Markets Appendix B: Kendall and Tulip.
https://www.rba.gov.au/publications/rdp/2020/2020-02/appendix-b.html