Search: aggregate supply
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RBA Glossary definition for aggregate supply
aggregate supply – Gross domestic product as measured by the value of goods and services produced.
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Do Monetary Policy and Economic Conditions Impact Innovation? Evidence from Australian Administrative Data
15 Feb 2024
RDP
2024-01
We find that contractionary (expansionary) monetary policy reduces (increases) aggregate research and development (R&D) spending, and that lower (higher) R&D spending reduces (increases) future productivity.
https://www.rba.gov.au/publications/rdp/2024/2024-01.html
Results
15 Feb 2024
RDP
2024-01
100 basis point contractionary shock. Notes: Results from local projection model of aggregate innovation metrics on monetary policy shock. ... Our results are more in line with those from Ma and Zimmerman (2023), who also use local projections and find
https://www.rba.gov.au/publications/rdp/2024/2024-01/results.html
Do Monetary Policy and Economic Conditions Impact Innovation? Evidence from Australian Administrative Data
15 Feb 2024
RDP
2024-01
Changing aggregate demand in the economy is an important channel for monetary policy. ... This can reflect: tighter aggregate credit supply; lower asset prices which reduce borrowers' collateral value and therefore borrowing capacity, the ‘financial
https://www.rba.gov.au/publications/rdp/2024/2024-01/full.html
Introduction
15 Feb 2024
RDP
2024-01
supply shock, particularly if inflation expectations can be kept anchored (Queralto 2022; Fornaro and Wolf 2023). ... We then consider the aggregate effect of changes in R&D spending on productivity in Section 6 before concluding.
https://www.rba.gov.au/publications/rdp/2024/2024-01/introduction.html
Do Monetary Policy and Economic Conditions Impact Innovation? Evidence from Australian Administrative Data
15 Feb 2024
RDP
2024-01
Aggregate data are provided in the ‘Data’ folder, alongside EViews 13 work files for the VAR analysis in Figures 2 and B1. ... patent-party-activity. trade-mark-application. trade-mark-party-activity. Local projections.do: local projections for
https://www.rba.gov.au/publications/rdp/2024/2024-01/read-me.html
Literature Review
15 Feb 2024
RDP
2024-01
Footnote. In a related literature, Sedláček and Ignaszak (2021) consider the role that firm-level demand can play in incentivising innovation, and in turn aggregate growth.
https://www.rba.gov.au/publications/rdp/2024/2024-01/literature-review.html
Data and Methodology
15 Feb 2024
RDP
2024-01
Aggregate (log) R&D spending data from the Australian Bureau of Statistics (ABS) national accounts. ... We also estimate Equation (1) using aggregate variables which we can represent identically to the above, simply dropping the i subscripts.
https://www.rba.gov.au/publications/rdp/2024/2024-01/data-and-methodology.html
Macroeconomic Effects on Productivity
15 Feb 2024
RDP
2024-01
Aggregate data, one standard deviation shock. Notes: Response of TFP to an R&D spending shock from a VAR containing the log levels of real GDP, real R&D spending, and
https://www.rba.gov.au/publications/rdp/2024/2024-01/macroeconomic-effects-on-productivity.html
Through Which Channels Does Monetary Policy Affect Innovation?
15 Feb 2024
RDP
2024-01
Changing aggregate demand in the economy is an important channel for monetary policy. ... This can reflect: tighter aggregate credit supply; lower asset prices which reduce borrowers' collateral value and therefore borrowing capacity, the ‘financial
https://www.rba.gov.au/publications/rdp/2024/2024-01/through-which-channels-does-monetary-policy-affect-innovation.html