Reserve Bank of Australia

Displaying 1-9 of 9 results

  • White Papers // Mar 2011

    Domestic Demand Growth In Emerging Asia

    Domestic demand has grown rapidly in emerging Asia for much of the past 30 years. As a consequence, its contribution to annual global growth has gradually increased, rising from ? percentage point in the early 1980s to almost 1 percentage point in recent years. Most of this increased contribution reflects...

    Provided By Reserve Bank of Australia

  • White Papers // Sep 2010

    Monetary Policy And The Exchange Rate: Evaluation Of VAR Models

    This paper examines the ability of Vector AutoRegressive (VAR) models to properly identify the transmission of monetary policy in a controlled experiment. Simulating data from an estimated small open economy DSGE model for Australia, the authors find that sign-restricted VAR models do reasonably well at estimating the responses of macroeconomic...

    Provided By Reserve Bank of Australia

  • White Papers // Sep 2010

    Asset Prices, Credit Growth, Monetary And Other Policies: An Australian Case Study

    The long-running debate about the role of monetary policy in responding to rising asset prices has received renewed attention in the wake of the global financial crisis. This paper contributes to this debate by describing the Australian experience of a cycle in house prices and credit from 2002 to 2004,...

    Provided By Reserve Bank of Australia

  • White Papers // Jun 2010

    Employment Composition: A Study Of Australian Employment Growth, 2002 - 2006

    This paper uses data from the Household, Income and Labour Dynamics in Australia (HILDA) Survey to examine whether there was a change in employment rates for people with 'Low employment' characteristics between 2002 and 2006, which was a period of strong employment growth. In particular, it estimates the relationships between...

    Provided By Reserve Bank of Australia

  • White Papers // Jun 2010

    Modelling Inflation In Australia

    This paper estimates a range of single-equation models of inflation for Australia. The authors find that traditional models, such as the expectations-augmented standard Phillips curve or mark-up models, outperform the more micro-founded New-Keynesian Phillips Curve (NKPC) in explaining trimmed mean inflation, both in terms of in-sample fit and significance of...

    Provided By Reserve Bank of Australia

  • White Papers // Jun 2010

    Demography And Growth

    Substantial demographic shifts are under way in many countries which could have a sizeable impact on trend growth rates over coming decades. This paper explores some of these demographic developments, particularly in relation to population growth and age structure, for a range of economies. It also examines some of the...

    Provided By Reserve Bank of Australia

  • White Papers // Mar 2010

    Global Foreign Exchange Turnover

    The most recent six-monthly data on global foreign exchange turnover show a rebound in activity between April and October 2009 across all markets and major currency pairs. The broad-based increase in turnover is in line with the improvement in global economic and financial conditions since early 2009. Despite the rebound,...

    Provided By Reserve Bank of Australia

  • White Papers // Dec 2009

    Global Relative Price Shocks: The Role Of Macroeconomic Policies

    The authors use the multi-sector and multi-country G-Cubed model to explore the potential role of three major shocks - to productivity, risk premia and US monetary policy - to explain the large movements in relative prices between 2002 and 2008. They find that productivity shocks were major drivers of relative...

    Provided By Reserve Bank of Australia

  • White Papers // Oct 2009

    Inflation Volatility And Forecast Accuracy

    This paper examines the statistical properties of inflation in a sample of inflation-targeting and non-inflation-targeting countries. First, it analyses the time-varying volatility of a measure of the persistent component of inflation. Based on this measure, inflation-targeting countries (Australia, Canada, New Zealand, Sweden and the United Kingdom) have experienced a relatively...

    Provided By Reserve Bank of Australia

  • White Papers // Sep 2010

    Monetary Policy And The Exchange Rate: Evaluation Of VAR Models

    This paper examines the ability of Vector AutoRegressive (VAR) models to properly identify the transmission of monetary policy in a controlled experiment. Simulating data from an estimated small open economy DSGE model for Australia, the authors find that sign-restricted VAR models do reasonably well at estimating the responses of macroeconomic...

    Provided By Reserve Bank of Australia

  • White Papers // Sep 2010

    Asset Prices, Credit Growth, Monetary And Other Policies: An Australian Case Study

    The long-running debate about the role of monetary policy in responding to rising asset prices has received renewed attention in the wake of the global financial crisis. This paper contributes to this debate by describing the Australian experience of a cycle in house prices and credit from 2002 to 2004,...

    Provided By Reserve Bank of Australia

  • White Papers // Jun 2010

    Employment Composition: A Study Of Australian Employment Growth, 2002 - 2006

    This paper uses data from the Household, Income and Labour Dynamics in Australia (HILDA) Survey to examine whether there was a change in employment rates for people with 'Low employment' characteristics between 2002 and 2006, which was a period of strong employment growth. In particular, it estimates the relationships between...

    Provided By Reserve Bank of Australia

  • White Papers // Jun 2010

    Modelling Inflation In Australia

    This paper estimates a range of single-equation models of inflation for Australia. The authors find that traditional models, such as the expectations-augmented standard Phillips curve or mark-up models, outperform the more micro-founded New-Keynesian Phillips Curve (NKPC) in explaining trimmed mean inflation, both in terms of in-sample fit and significance of...

    Provided By Reserve Bank of Australia

  • White Papers // Oct 2009

    Inflation Volatility And Forecast Accuracy

    This paper examines the statistical properties of inflation in a sample of inflation-targeting and non-inflation-targeting countries. First, it analyses the time-varying volatility of a measure of the persistent component of inflation. Based on this measure, inflation-targeting countries (Australia, Canada, New Zealand, Sweden and the United Kingdom) have experienced a relatively...

    Provided By Reserve Bank of Australia

  • White Papers // Mar 2010

    Global Foreign Exchange Turnover

    The most recent six-monthly data on global foreign exchange turnover show a rebound in activity between April and October 2009 across all markets and major currency pairs. The broad-based increase in turnover is in line with the improvement in global economic and financial conditions since early 2009. Despite the rebound,...

    Provided By Reserve Bank of Australia

  • White Papers // Jun 2010

    Demography And Growth

    Substantial demographic shifts are under way in many countries which could have a sizeable impact on trend growth rates over coming decades. This paper explores some of these demographic developments, particularly in relation to population growth and age structure, for a range of economies. It also examines some of the...

    Provided By Reserve Bank of Australia

  • White Papers // Mar 2011

    Domestic Demand Growth In Emerging Asia

    Domestic demand has grown rapidly in emerging Asia for much of the past 30 years. As a consequence, its contribution to annual global growth has gradually increased, rising from ? percentage point in the early 1980s to almost 1 percentage point in recent years. Most of this increased contribution reflects...

    Provided By Reserve Bank of Australia

  • White Papers // Dec 2009

    Global Relative Price Shocks: The Role Of Macroeconomic Policies

    The authors use the multi-sector and multi-country G-Cubed model to explore the potential role of three major shocks - to productivity, risk premia and US monetary policy - to explain the large movements in relative prices between 2002 and 2008. They find that productivity shocks were major drivers of relative...

    Provided By Reserve Bank of Australia