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RBA Glossary definition for money market

money market – The market which deals in short-term discount securities such as Treasury notes, bank bills and promissory notes. Major participants in this market include the Reserve Bank of Australia, banks, superannuation funds, insurance companies, investment trusts, investment banks, building societies and large corporates.

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Alternative Specifications for the Monetary Sector

31 Dec 1977 RDP 1977-07
P.D. Jonson, R.W. Rankin and J.C. Taylor
second term captures any short-run influence of stock disequilibrium in the money market. ... process on the stock disequilibrium in the money market; the flow demand for money is the product of the money stock and its desired rate of change.
https://www.rba.gov.au/publications/rdp/1977/7707/alternative-specifications-for-the-monetary-sector.html

Appendix A: The Specification of the Core Models

31 Dec 1977 RDP 1977-07
P.D. Jonson, R.W. Rankin and J.C. Taylor
RDP 1977-07: Money and the Balance of Payments Appendix A: The Specification of the Core Models. ... i. real imports of goods and services. M. stock of money.
https://www.rba.gov.au/publications/rdp/1977/7707/appendix-a.html

Preface for RDP 7707: Money and the Balance of Payments

1 Oct 1977 RDP 7707
P.D. Jonson, R.W. Rankin and J.C. Taylor
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1977/7707.html

Introduction

31 Dec 1977 RDP 1977-07
P.D. Jonson, R.W. Rankin and J.C. Taylor
RDP 1977-07: Money and the Balance of Payments 1. Introduction. P.D. ... The central message of this approach is that the balance of payments cannot be in equilibrium over time until asset markets, and in particular the money market, are also in
https://www.rba.gov.au/publications/rdp/1977/7707/introduction.html

Theoretic Background

31 Dec 1977 RDP 1977-07
P.D. Jonson, R.W. Rankin and J.C. Taylor
with the usual balance of trade effects followed by gold shipments which eventually eliminated the excess money. ... One important question is whether all the effects of a monetary disturbance, both domestic and external, appear quickly enough to restore
https://www.rba.gov.au/publications/rdp/1977/7707/theoretic-background.html

Results with the U.K. Model

31 Dec 1977 RDP 1977-07
P.D. Jonson, R.W. Rankin and J.C. Taylor
by any disturbance to the money market. ... This implies that the balance-of-payments offset to flow disequilibrium in the money market is less than complete within the year; indeed, the average lag implied by the point estimate
https://www.rba.gov.au/publications/rdp/1977/7707/results-with-the-uk-model.html

Results with the Australian Model

31 Dec 1977 RDP 1977-07
P.D. Jonson, R.W. Rankin and J.C. Taylor
model. The adjustment speeds in asset markets are, in general, low relative to lags in the goods market, although in general adjustment speeds are more rapid than those implied by the ... the flow disequilibrium in the money market influencing the rate
https://www.rba.gov.au/publications/rdp/1977/7707/results-with-the-australian-model.html

Concluding Comments

31 Dec 1977 RDP 1977-07
P.D. Jonson, R.W. Rankin and J.C. Taylor
economies, the state of the domestic market for money has a significant influence on the behaviour of the balance of payments, although the resulting offset is, in neither case, sufficiently rapid ... economies. The estimates of α. 12. suggest that the
https://www.rba.gov.au/publications/rdp/1977/7707/concluding-comments.html

Comparison of U.K. and Australian Model Results

31 Dec 1977 RDP 1977-07
P.D. Jonson, R.W. Rankin and J.C. Taylor
Related to this is the result that the average lags with which asset markets (in particular, the markets for money and net foreign assets) adjust toward equilibrium are substantially shorter in ... model does not capture fully the interaction of money
https://www.rba.gov.au/publications/rdp/1977/7707/comparison-of-uk-and-australian-model-results.html