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RBA Glossary definition for financial aggregates

financial aggregates – A Reserve Bank of Australia data series specifying measures of the supply of money and credit. It includes some or all of: currency on issue; current deposits with banks; other deposits of the private non-bank sector with banks; borrowings from the private sector by non-bank depository corporations; and credit (loans, advances and bills discounted to the private sector).

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Do Financial Aggregates Lead Activity?: A Preliminary Analysis

1 Jan 1988 RDP 8803
Michele Bullock, Glenn Stevens and Susan Thorp
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1988/8803.html

Do Financial Aggregates Lead Activity?: A Preliminary Analysis

1 Jan 1988 RDP 8803
Michele Bullock, Glenn Stevens and Susan Thorp
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1988/8803/

Concluding Comments

1 Jan 1988 RDP 8803
Michele Bullock, Glenn Stevens and Susan Thorp
Download the Paper 695. KB. This study has attempted to establish whether financial aggregates are leading or lagging indicators of economic activity in Australia. ... The main findings can be summarised as:. turning points in nominal private domestic
https://www.rba.gov.au/publications/rdp/1988/8803/concluding-comments.html

References

1 Jan 1988 RDP 8803
Michele Bullock, Glenn Stevens and Susan Thorp
RDP 8803: Do Financial Aggregates Lead Activity?: A Preliminary Analysis References. ... 2, pp 13–22. Fackler, J. and A. Silver (1982–83). “Credit Aggregates as Policy Targets”.
https://www.rba.gov.au/publications/rdp/1988/8803/references.html

Empirical Analysis for Australia

1 Jan 1988 RDP 8803
Michele Bullock, Glenn Stevens and Susan Thorp
The financial aggregates considered are:. M3 and broad money, the two monetary aggregates which receive most attention;. ... All financial aggregates, except M3, are “caused” by at least one activity variable.
https://www.rba.gov.au/publications/rdp/1988/8803/empirical-analysis-for-australia.html

Overseas Experience

1 Jan 1988 RDP 8803
Michele Bullock, Glenn Stevens and Susan Thorp
RDP 8803: Do Financial Aggregates Lead Activity?: A Preliminary Analysis 3. ... Most of the discussion has assumed that financial aggregates lead (and cause) income or output and has concentrated on assessing the relative merits of money and credit as
https://www.rba.gov.au/publications/rdp/1988/8803/overseas-experience.html

Appendix A: Data Definitions and Sources

1 Jan 1988 RDP 8803
Michele Bullock, Glenn Stevens and Susan Thorp
RDP 8803: Do Financial Aggregates Lead Activity?: A Preliminary Analysis Appendix A: Data Definitions and Sources. ... quarter. Source: RBA Bulletin Database. Note: Growth rates in all financial aggregates are adjusted for transfers from NBFIs to new
https://www.rba.gov.au/publications/rdp/1988/8803/appendix-a.html

Introduction

1 Jan 1988 RDP 8803
Michele Bullock, Glenn Stevens and Susan Thorp
Do increases in the growth of financial aggregates portend future rises in economic activity? ... This study offers some preliminary evidence on these issues by examining the lead/lag relationship between financial aggregates and measures of real and
https://www.rba.gov.au/publications/rdp/1988/8803/introduction.html

Relationships between Money, Credit and Activity

1 Jan 1988 RDP 8803
Michele Bullock, Glenn Stevens and Susan Thorp
In summary, economic theory does not unambiguously predict whether financial aggregates should lead or lag economic activity. ... For example, an observed leading relationship from financial aggregates to economic activity may break down if authorities
https://www.rba.gov.au/publications/rdp/1988/8803/relationships-between-money-credit-and-activity.html