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RBA Glossary definition for HAC Rule
HAC Rule – Honour All Cards Rule
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Implementation Effects
24 May 2022
RDP
2022-02
Notes: Heteroskedasticity and autocorrelation corrected (HAC) standard errors in parentheses; , and denote statistical significance at the 10, 5 and 1 per cent levels, respectively. ... It was also consistent with the Reserve Bank retaining operational
https://www.rba.gov.au/publications/rdp/2022/2022-02/implementation-effects.html
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Anticipatory Monetary Policy and the ‘Price Puzzle’
1 May 2017
RDP
2017-02
In Approach 4, we restrict our sample to begin in 1996:Q1, a period for which the coefficients on the policy rule were arguably more stable. ... The resulting series should identify a narrower set of monetary shocks, namely innovations to the policy rule
https://www.rba.gov.au/publications/rdp/2017/2017-02/full.html
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Policy Rules for Open Economies
1 Jul 1998
RDP
9806
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1998/9806.html
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Term Structure Rules for Monetary Policy
1 Apr 2006
RDP
2006-02
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/2006/2006-02.html
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Discussion on Evaluating Simple Monetary-policy Rules for Australia | Conference – 1997
21 Jul 1997
Conferences
All the rules are constrained to be backward-looking, by which I mean they do not include any expected future values of the variables in the rule. ... an explicit open-economy dimension in the monetary rule; and the potential for forward-looking rules to
https://www.rba.gov.au/publications/confs/1997/macklem.html
Introduction for RDP 7903: Monetary Rules: A Preliminary Analysis
1 Sep 1979
RDP
7903
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1979/7903.html
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Policy Rules
1 Aug 1986
RDP
8605
RDP 8605: On Some Recent Developments in Monetary Economics 5. Policy Rules. ... These relationships therefore cannot be a solid basis for the actual conduct of policy using rigid rules when economic relationships are changing, because of changes in the
https://www.rba.gov.au/publications/rdp/1986/8605/policy-rules.html
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Evaluating Simple Monetary-policy Rules for Australia | Conference – 1997
21 Jul 1997
Conferences
Consistent with Ball's (1997) model, nominal-income rules are relatively inefficient, with the efficient frontier lying outside the Taylor-rule frontier. ... Recall that the Taylor-rule frontier in Figure 1 shows outcomes from the efficient Taylor rules.
https://www.rba.gov.au/publications/confs/1997/de-brouwer-oregan.html
Optimal Monetary Policy Rules
31 Dec 2011
RDP
2011-02
The settings of the optimised rules are similar. Figure 6 shows the loss function as we depart from the optimal value of one of the parameters in the policy rule – holding ... For some preferences long-term interest rate rules perform as well as the
https://www.rba.gov.au/publications/rdp/2011/2011-02/opt-monetary-policy-rules.html
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Monetary Targeting: The International Experience | Conference – 1989
20 Jun 1989
Conferences
Sargent (1979), in his widely-used textbook, provided a somewhat extreme summing up of the problems associated with interest rate rules, concluding (p 362) “there is no interest rate rule that ... rule. One of the advantages claimed for the use of
https://www.rba.gov.au/publications/confs/1989/edey.html