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RBA Glossary definition for exchange rates

exchange rates – The price of one currency expressed in terms of another currency. Any exchange rate can be quoted two ways, e.g. Australian dollars per US dollar (USD/AUD) or US dollars per Australian dollar (AUD/USD). The convention for the Australian dollar is that it is quoted as the foreign currency price of the Australian dollar. This is sometimes referred to as the 'Indirect' method of quoting.

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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
RDP 8909: Optimal Wage Indexation, Monetary Policy and the Exchange Rate Regime 1. ... The second issue is that although the period since 1973 is often characterized as that of “generalized floating” exchange rates, exchange market intervention has
https://www.rba.gov.au/publications/rdp/1989/8909/introduction.html

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/

Appendix 2: Testing the Overidentifying Restrictions

1 Dec 1989 RDP 8909
Jerome Fahrer
RDP 8909: Optimal Wage Indexation, Monetary Policy and the Exchange Rate Regime Appendix 2: Testing the Overidentifying Restrictions.
https://www.rba.gov.au/publications/rdp/1989/8909/appendix-2.html

Appendix 3: Calculating the Variance of Θ

1 Dec 1989 RDP 8909
Jerome Fahrer
RDP 8909: Optimal Wage Indexation, Monetary Policy and the Exchange Rate Regime Appendix 3: Calculating the Variance of Θ.
https://www.rba.gov.au/publications/rdp/1989/8909/appendix-3.html

Estimation

1 Dec 1989 RDP 8909
Jerome Fahrer
RDP 8909: Optimal Wage Indexation, Monetary Policy and the Exchange Rate Regime 4. ... Consistent estimates of. ,. and. are the variances of the VAR residuals from the exchange rate, government expenditure and foreign price equations, respectively.
https://www.rba.gov.au/publications/rdp/1989/8909/estimation.html

The Model

1 Dec 1989 RDP 8909
Jerome Fahrer
RDP 8909: Optimal Wage Indexation, Monetary Policy and the Exchange Rate Regime 2. ... When the nominal exchange rate is fixed, α = and the central bank loses all control over the money supply.
https://www.rba.gov.au/publications/rdp/1989/8909/model.html

References

1 Dec 1989 RDP 8909
Jerome Fahrer
RDP 8909: Optimal Wage Indexation, Monetary Policy and the Exchange Rate Regime References. ... 1985), “Optimal Wage Indexation, Foreign Exchange Intervention, and Monetary Policy”,. American Economic Review. ,
https://www.rba.gov.au/publications/rdp/1989/8909/references.html

Results

1 Dec 1989 RDP 8909
Jerome Fahrer
RDP 8909: Optimal Wage Indexation, Monetary Policy and the Exchange Rate Regime 5. ... of the exchange rate, as reflected in a low value of α (i.e.
https://www.rba.gov.au/publications/rdp/1989/8909/results.html

Appendix 1: Data Definitions and Sources

1 Dec 1989 RDP 8909
Jerome Fahrer
RDP 8909: Optimal Wage Indexation, Monetary Policy and the Exchange Rate Regime Appendix 1: Data Definitions and Sources. ... trade weighted nominal exchange rate. pf:. trade weighted GNP(GDP) deflator. The data are seasonally adjusted.
https://www.rba.gov.au/publications/rdp/1989/8909/appendix-1.html