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Investment-Saving Comovement under Endogenous Fiscal Policy

Levy, Daniel - EconWPA - 2005

. Using this model, I demonstrate how a positive investment-saving correlation can arise in a world with endogenous fiscal … capital mobility. This implies that the observed investment- saving comovement is not necessarily due to imperfect capital … mobility. The model has a testable implication: it predicts a lack of Granger causality from private saving to private …

Persistent link: https://www.econbiz.de/10005119430

Australia's Prosperous 2000s: Housing and the Mining Boom

Kearns, Jonathan; Lowe, Philip - Reserve Bank of Australia - 2011

The 2000s was a particularly eventful decade for both the international and Australian economies. There were: two recessions in many countries; the largest international financial crisis since the Great Depression; the ongoing rapid development of Asia; asset booms and busts; and, Australia...

Persistent link: https://www.econbiz.de/10009393020

The Role of Credit Supply in the Australian Economy

Jacobs, David; Rayner, Vanessa - Reserve Bank of Australia - 2012

Historical experience shows that disruptions in credit markets can have a material impact on activity and inflation. However, it is hard to measure such effects owing to the difficulty in isolating credit supply shocks. This paper employs survey data to identify the impact of credit supply...

Persistent link: https://www.econbiz.de/10010990950

A Small Model of the Australian Macroeconomy

Beechey, Meredith; Bharucha, Nargis; Cagliarini, Adam; … - Reserve Bank of Australia - 2000

This paper presents a small model of the Australian macroeconomy. The model is empirically based, aggregate in nature and consists of five estimated equations – for non-farm output, the real exchange rate, import prices, unit labour costs and consumer prices. The stylised facts underlying each...

Persistent link: https://www.econbiz.de/10005125144

Real-time National Accounts Data

Stone, Andrew; Wardrop, Sharon - Reserve Bank of Australia - 2002

Quarterly national accounts data are amongst the most important and eagerly awaited economic information available, with estimates of recent growth regarded as a key summary indicator of the current health of the Australian economy. Official estimates of quarterly output are, however, subject to...

Persistent link: https://www.econbiz.de/10005125145

Monetary Policy under Sudden Stops

Cúrdia, Vasco - EconWPA - 2005

Emerging markets are often exposed to sudden stops of capital inflows. What are the effects of monetary policy in such an environment? To answer this question, the paper proposes a model with the typical elements of an emerging market economy. Credit frictions generate balance sheet effects,...

Persistent link: https://www.econbiz.de/10005062691

Assessing Financial Vulnerability in Partially Dollarized Economies

Moron, Eduardo; Castro, Juan F.; Winkelried, Diego - EconWPA - 2004

exchange rate, when assessing financial vulnerability. If we asses vulnerability in terms of the evolution of investment, we …

Persistent link: https://www.econbiz.de/10005408161

Fear of Floating: An optimal discretionary monetary policy analysis

Bokil, Madhavi - EconWPA - 2005

traded goods sector also displays greater aversion for exchange rate volatility. …

Persistent link: https://www.econbiz.de/10005408203

Forward-looking Behaviour and Credibility: Some Evidence and Implications for Policy

Brouwer, Gordon de; Ellis, Luci - Reserve Bank of Australia - 1998

Whether people form their expectations of the future in a model-consistent or extrapolative manner, has implications for the way the economy and monetary policy are modelled. The first half of this paper provides three pieces of information about inflation expectations – that survey measures...

Persistent link: https://www.econbiz.de/10005423502

Monetary Policy-making in the Presence of Knightian Uncertainty

Cagliarini, Adam; Heath, Alexandra - Reserve Bank of Australia - 2000

This paper explores the extent to which Knightian uncertainty can explain features of interest rate paths observed in practice that are not generally replicated by models of optimal monetary policy. Interest rates tend to move in a sequence of steps in a given direction, or remain constant for...

Persistent link: https://www.econbiz.de/10005423509