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RBA Glossary definition for balance of payments

balance of payments – A summary of the economic transactions between residents of one country and residents of other countries.

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Appendix: Derivation of Continuous Time Constraints

1 Jul 1986 RDP 8610
Robert G. Trevor
Given these relationships, the balance of payments equilibrium condition for the home country is,. ... which is the stochastic differential equation representing balance of payments equilibrium for the home country.
https://www.rba.gov.au/publications/rdp/1986/8610/appendix.html

The Model

1 Jul 1986 RDP 8610
Robert G. Trevor
Such an equilibrium condition may be obtained by imposing balance of payments equilibrium. ... Then the stochastic differential equation representing balance of payments equilibrium for the home country is,.
https://www.rba.gov.au/publications/rdp/1986/8610/model.html

The General Case

1 Jul 1986 RDP 8610
Robert G. Trevor
1. dz. 1. term in the balance of payments constraint is simply the sum of those on σ. ... The above analysis then implies that the only solution to the stochastic part of the balance of payments constraints is that one of the σdz's is a linear
https://www.rba.gov.au/publications/rdp/1986/8610/general-case.html

Example: Many Assets

1 Jul 1986 RDP 8610
Robert G. Trevor
The balance of payments equilibrium condition, equation (9), may be rewritten as,. ... Therefore, the only solution to the stochastic part of the balance of payments constraint (equation (25)) is that one of the σdz terms is a linear combination of the
https://www.rba.gov.au/publications/rdp/1986/8610/example-many-assets.html

Concluding Observations

1 Jul 1986 RDP 8610
Robert G. Trevor
This merely adds additional terms to the constraints in the expression for the noise terms of the balance of payments. ... to vary stochastically means that the asset shares are not constant and equation (24) does not represent balance of payments
https://www.rba.gov.au/publications/rdp/1986/8610/concluding-observations.html

Introduction

1 Jul 1986 RDP 8610
Robert G. Trevor
The central contribution of this paper is the explicit inclusion of equilibrium conditions for foreign exchange markets (balance of payments equilibrium). ... The assumption of geometric Brownian motion for exchange rates is inconsistent with the
https://www.rba.gov.au/publications/rdp/1986/8610/introduction.html

Example: Two Risky Assets

1 Jul 1986 RDP 8610
Robert G. Trevor
from the model presented in Section 2 and,. Equilibrium in the asset markets is again defined by equation (12), and the balance of payments equilibrium condition by equation (13).
https://www.rba.gov.au/publications/rdp/1986/8610/example-two-risky-assets.html

Example: Two Real Riskless Assets

1 Jul 1986 RDP 8610
Robert G. Trevor
The balance of payments equilibrium condition, equation (9), may be rewritten as,. ... Therefore, the only solution to (the stochastic part of) the balance of payments constraint (equation (14)) is that σ.
https://www.rba.gov.au/publications/rdp/1986/8610/example-two-real-riskless-assets.html