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Optimal Monetary Policy with Real-time Signal Extraction from the Bond Market

2 Dec 2009 RDP PDF 222KB
The real marginalcost then equals the market-clearing real wage divided by productivity.
https://www.rba.gov.au/publications/rdp/2006/pdf/rdp2006-05.pdf

Reconciling Microeconomic and Macroeconomic Estimates of Price Stickiness

19 Mar 2010 RDP PDF 461KB
of sectoral real marginalcosts, reflecting the weighting used in the construction of the aggregate priceindex. ... Therefore, we need instruments that are uncorrelated withthe weighted sectoral marginal costs but are correlated with aggregate
https://www.rba.gov.au/publications/rdp/2010/pdf/rdp2010-01.pdf

Demand Shocks, Inflation and the Business Cycle

30 Nov 2009 RDP PDF 72KB
An increase in the level of output may increase costs in one of two ways - marginalcosts may increase because of decreasing returns (at least in the short run), or factorprices may ... These pressures appear to be stronger ingoods markets than in markets
https://www.rba.gov.au/publications/rdp/1994/pdf/rdp9411.pdf

Issues in Estimating New-Keynesian Phillips Curves in the Presence of Unknown Structural Change

2 Feb 2015 RDP PDF 586KB
Thespecification in the equation above is not particularly appealing as the marginalcost variable has a negative coefficient, although it is clearly ill determined.
https://www.rba.gov.au/publications/rdp/2013/pdf/rdp2013-11.pdf

The Butterfly Effect of Small Open Economies

27 Jun 2007 RDP PDF 246KB
For this special case, the small economy’s real marginalcost is completely insulated from movements in foreign output.
https://www.rba.gov.au/publications/rdp/2007/pdf/rdp2007-06.pdf

An Estimated Small Open Economy Model with Labour Market Frictions

13 Dec 2012 Research Workshop PDF 787KB
Reserve Bank of Australia Workshop 2012
https://www.rba.gov.au/publications/workshops/research/2012/pdf/jeff-sheen.pdf

A Medium-scale Open Economy Model of Australia

18 May 2009 RDP PDF 877KB
The marginalcost of exporters depends on the price of domestic goods they sell to the worldmarket and the exchange rate. ... The role of taxes in the economy is thus confined to influencing marginalcosts of production and marginal returns on assets.
https://www.rba.gov.au/publications/rdp/2008/pdf/rdp2008-07.pdf

Learning in an Estimated Small Open Economy Model

30 Mar 2010 RDP PDF 279KB
ωθ j ω(1θ j(1β )). where: j refers to domestic (d) or imported (m) good sectors; mc jt is the marginalcost of production; and π jt is inflation.
https://www.rba.gov.au/publications/rdp/2010/pdf/rdp2010-02.pdf

Dynamic Pricing and Imperfect Common Knowledge

19 Dec 2007 RDP PDF 286KB
The variance of the idiosyncraticcomponent of marginal cost determines how accurate a firm’s own marginalcost is as an indicator of the average economy-wide marginal cost. ... 24. was then estimated by GMM using all available lagged variables, that is,
https://www.rba.gov.au/publications/rdp/2007/pdf/rdp2007-12.pdf

Understanding the Flattening Phillips Curve

30 Sep 2008 RDP PDF 317KB
Essentially, real marginalcosts are a weighted average of marginal costs in each sector, with the weightsdetermined by their importance in the consumption bundle.27 Substituting in ourexpressions for marginal costs (and ... 22. estimates of the
https://www.rba.gov.au/publications/rdp/2008/pdf/rdp2008-05.pdf