Search: Clearing

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RBA Glossary definition for Clearing

Clearing – The process of transmitting, reconciling and in some cases confirming payment instructions prior to settlement; it may include netting of instructions and the calculation of final positions for settlement.

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Optimal Wage Indexation, Monetary Policy and the Exchange Rate Regime

1 Dec 1989 RDP 8909
Jerome Fahrer
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1989/8909.html

Introduction

1 Dec 1989 RDP 8909
Jerome Fahrer
The optimal (labour market clearing) degree of wage indexation therefore depends on the relative prevalence of those shocks. ... The optimal degree of flexibility, given the existence of a certain degree of wage indexation, is that which leads to the
https://www.rba.gov.au/publications/rdp/1989/8909/introduction.html

Results

1 Dec 1989 RDP 8909
Jerome Fahrer
In this case, classical unemployment (due to real wages being above their market-clearing levels) would still exist, but to a lesser extent than if the degree of indexation exceeded its
https://www.rba.gov.au/publications/rdp/1989/8909/results.html

The Optimal Degree of Wage Indexation

1 Dec 1989 RDP 8909
Jerome Fahrer
Download the Paper 753. KB. The optimal degree of wage indexation is defined as that which makes the ex-post real wage as close as possible to the market clearing real
https://www.rba.gov.au/publications/rdp/1989/8909/optimal-degree-of-wage-indexation.html