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RBA Glossary definition for capital market

capital market – A market for medium to long-term financial instruments. Financial instruments traded in the capital market include shares, and bonds issued by the Australian Government, State governments, corporate borrowers and financial institutions.

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Appendix A: The Specification of the Core Models

31 Dec 1977 RDP 1977-07
P.D. Jonson, R.W. Rankin and J.C. Taylor
E. exchange rate. I. interest payments on government debt. K. real business fixed capital stock. ... dummy variable for capital outflow 1975(4). QS. dummy variable for credit squeeze, 1961, 1973.
https://www.rba.gov.au/publications/rdp/1977/7707/appendix-a.html

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. ... markets and capital flows; the magnitudes of the offset parameters will indicate the relative strength of the effects of such a monetary disequilibrium on
https://www.rba.gov.au/publications/rdp/1977/7707/alternative-specifications-for-the-monetary-sector.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
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 intertemporal ... of payments will respond indirectly through interest rate
https://www.rba.gov.au/publications/rdp/1977/7707/introduction.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
model does not capture fully the interaction of money and capital markets, because of its smallness and simplicity. ... not provide a good description of the working of capital markets in the U.K.
https://www.rba.gov.au/publications/rdp/1977/7707/comparison-of-uk-and-australian-model-results.html

Theoretic Background

31 Dec 1977 RDP 1977-07
P.D. Jonson, R.W. Rankin and J.C. Taylor
payments. Some conventional models do allow monetary conditions to influence the balance of payments through interest rate effects on capital flows. ... This result, however, appears to rely on a specification of short-term capital flows which imposes a
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
The disequilibrium real balance effect on aggregate expenditure permits a direct effect of monetary disturbances on domestic commodity markets. ... relation for capital flows and determine reserve flows by adding up the components of the balance of
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