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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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The Information Content of Financial Aggregates in Australia

1 Nov 1996 RDP 9606
Ellis W. Tallman and Naveen Chandra
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1996/9606.html

The Information Content of Financial Aggregates in Australia

1 Nov 1996 RDP 9606
Ellis W. Tallman and Naveen Chandra
Research Discussion Paper – RDP 9606 The Information Content of Financial Aggregates in Australia.
https://www.rba.gov.au/publications/rdp/1996/9606/

Introduction

1 Nov 1996 RDP 9606
Ellis W. Tallman and Naveen Chandra
This paper addresses the question of the usefulness of financial aggregate measures in policymaking by proposing a minimal standard on the information value of financial aggregates. ... Initially, the financial aggregates are investigated in bivariate
https://www.rba.gov.au/publications/rdp/1996/9606/introduction.html

Appendix B: Detailed Out-Of-Sample Results

1 Nov 1996 RDP 9606
Ellis W. Tallman and Naveen Chandra
RDP 9606: The Information Content of Financial Aggregates in Australia Appendix B: Detailed Out-Of-Sample Results. ... relative to the root mean square error of the forecast of inflation in the corresponding model without the financial aggregate.
https://www.rba.gov.au/publications/rdp/1996/9606/appendix-b.html

References

1 Nov 1996 RDP 9606
Ellis W. Tallman and Naveen Chandra
RDP 9606: The Information Content of Financial Aggregates in Australia References. ... 9208. Bullock, M., D. Morris and G. Stevens (1989), β€˜The Relationship between Financial Indicators and Activity: 1968–1987’, in I.
https://www.rba.gov.au/publications/rdp/1996/9606/references.html

Data

1 Nov 1996 RDP 9606
Ellis W. Tallman and Naveen Chandra
Download the Paper 279. KB. The data sample consists of quarterly data on four financial aggregates (specifically, currency, M3, broad money, and credit of all financial intermediaries). ... Figures 1 and 2 compare the movements in the growth rate of the
https://www.rba.gov.au/publications/rdp/1996/9606/data.html

Appendix A: Data

1 Nov 1996 RDP 9606
Ellis W. Tallman and Naveen Chandra
RDP 9606: The Information Content of Financial Aggregates in Australia Appendix A: Data. ... Source:. Reserve Bank of Australia Bulletin. Lending by All Financial Intermediaries (Credit, CR).
https://www.rba.gov.au/publications/rdp/1996/9606/appendix-a.html

Literature Survey

1 Nov 1996 RDP 9606
Ellis W. Tallman and Naveen Chandra
There has been considerable interest in Australia about the relationship between financial aggregates and price and output variables. ... Thus, the researchers test for cointegration among candidate measures of prices, output, financial aggregates and
https://www.rba.gov.au/publications/rdp/1996/9606/literature-survey.html

Empirical Methods

1 Nov 1996 RDP 9606
Ellis W. Tallman and Naveen Chandra
Placing the financial aggregate second in the ordering allows innovations in the equation for financial aggregates to affect contemporaneously inflation and real output growth. ... The interest rate variable is observable more frequently than financial
https://www.rba.gov.au/publications/rdp/1996/9606/empirical-methods.html

Discussion of Results

1 Nov 1996 RDP 9606
Ellis W. Tallman and Naveen Chandra
For the full sample, the placement of the financial aggregate in the causal ordering is crucial to the findings of significance. ... On the other hand, the out-of-sample results suggest that some of the financial aggregates may improve the prediction of
https://www.rba.gov.au/publications/rdp/1996/9606/discussion-of-results.html