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RBA Glossary definition for macro economy

macro economy – The economy looked at as a whole or in terms of major components measured by aggregates such as gross domestic product, the balance of payments and related links, in the context of the national economy. This contrasts with microeconomics which focuses upon specific firms or industries.

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Smells Like Animal Spirits: The Effect of Corporate Sentiment on Investment

30 Nov 2021 RDP 2021-11
Gianni La Cava
Research Discussion Paper – RDP 2021-11 Smells Like Animal Spirits: The Effect of Corporate Sentiment on Investment. Gianni La Cava. November 2021. 1.7. MB. 415. KB. Supplementary information. investment, machine learning, risk and uncertainty.
https://www.rba.gov.au/publications/rdp/2021/2021-11.html

Read me

30 Nov 2021 RDP 2021-11
Gianni La Cava
RDP 2021-11: Smells Like Animal Spirits: The Effect of Corporate Sentiment on Investment Read me file. Gianni La Cava. November 2021. This ‘read me’ file contains information on the files used to generate the results presented in RDP 2021-11.
https://www.rba.gov.au/publications/rdp/2021/2021-11/read-me.html

Smells Like Animal Spirits: The Effect of Corporate Sentiment on Investment

30 Nov 2021 RDP 2021-11
Gianni La Cava
how changes in sentiment amongst individual decision-makers affect their behaviour and, in turn, the overall economy. ... There is the ‘fundamental’ view that believes that measures of sentiment capture news about the economy (e.g.
https://www.rba.gov.au/publications/rdp/2021/2021-11/full.html

References

30 Nov 2021 RDP 2021-11
Gianni La Cava
Akerlof GA and RJ Shiller (2009), Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism, Princeton University Press, Princeton. ... Erickson T and TM Whited (2000), ‘Measurement Error and the Relationship
https://www.rba.gov.au/publications/rdp/2021/2021-11/references.html

Non-technical summary for RDP 2021-11: Smells Like Animal Spirits: The Effect of Corporate Sentiment on Investment

30 Nov 2021 RDP 2021-11
Gianni La Cava
Download the Non-technical summary 415. KB. Economists have long been interested in the effect of animal spirits (or sentiment) on the economy. ... If company investment is affected by changes in animal spirits then there may be a role for macro policy
https://www.rba.gov.au/publications/rdp/2021/2021-11/non-technical-summary.html

Smells Like Animal Spirits: The Effect of Corporate Sentiment on Investment

30 Nov 2021 RDP 2021-11
Gianni La Cava
Research Discussion Paper – RDP 2021-11 Smells Like Animal Spirits: The Effect of Corporate Sentiment on Investment. Gianni La Cava. November 2021. 1.7. MB. I would like to thank Amanda Martz, Laura Nowzohour, Matthew Read, John Simon and Callan
https://www.rba.gov.au/publications/rdp/2021/2021-11/sections.html

Copyright and Disclaimer Notice

30 Nov 2021 RDP 2021-11
Gianni La Cava
RDP 2021-11: Smells Like Animal Spirits: The Effect of Corporate Sentiment on Investment Copyright and Disclaimer Notice. Gianni La Cava. November 2021. Download the Paper 1.7. MB. The following Disclaimer Notice refers to data and graphs sourced
https://www.rba.gov.au/publications/rdp/2021/2021-11/copyright-and-disclaimer-notice.html

Policy Implications and Conclusions

30 Nov 2021 RDP 2021-11
Gianni La Cava
For policymakers, the results suggest that external communications may have real effects on the economy by influencing sentiment among corporate managers, even if fundamental factors are unaffected.
https://www.rba.gov.au/publications/rdp/2021/2021-11/policy-implications-and-conclusions.html

Robustness Tests and Extensions

30 Nov 2021 RDP 2021-11
Gianni La Cava
RDP 2021-11: Smells Like Animal Spirits: The Effect of Corporate Sentiment on Investment 5. Robustness Tests and Extensions. Gianni La Cava. November 2021. Download the Paper 1.7. MB. Several robustness tests and extensions are outlined below. These
https://www.rba.gov.au/publications/rdp/2021/2021-11/robustness-tests-and-extensions.html

The Tobin's Q Model with Sentiment Shocks

30 Nov 2021 RDP 2021-11
Gianni La Cava
RDP 2021-11: Smells Like Animal Spirits: The Effect of Corporate Sentiment on Investment 2. The Tobin's Q Model with Sentiment Shocks. Gianni La Cava. November 2021. Download the Paper 1.7. MB. I motivate my empirical approach to identifying the
https://www.rba.gov.au/publications/rdp/2021/2021-11/the-tobins-q-model-with-sentiment-shocks.html