Research Discussion Papers 1991–2000

2000

RDP 2000-10 Monetary Policy-making in the Presence of Knightian Uncertainty

Adam Cagliarini and Alexandra Heath

RDP 2000-09 Consumption and Wealth

Alvin Tan and Graham Voss

RDP 2000-08 Nominal Wage Rigidity in Australia

Jacqueline Dwyer and Kenneth Leong

RDP 2000-07 The Effect of Uncertainty on Monetary Policy: How Good are the Brakes?

Guy Debelle and Adam Cagliarini

RDP 2000-06 Inflation Targeting and Exchange Rate Fluctuations in Australia

Chris Ryan and Christopher Thompson

RDP 2000-05 A Small Model of the Australian Macroeconomy

Meredith Beechey, Nargis Bharucha, Adam Cagliarini, David Gruen and Christopher Thompson

RDP 2000-04 Keynes and Australia

Donald J Markwell

RDP 2000-03 Some Structural Causes of Japan's Banking Problems

Luke Gower

RDP 2000-02 Forecasting Australian Economic Activity Using Leading Indicators

Andrea Brischetto and Graham Voss

RDP 2000-01 The Efficient Market Hypothesis: A Survey

Meredith Beechey, David Gruen and James Vickery

1999

RDP 1999-12 Unemployment and Skills in Australia

James Vickery

RDP 1999-11 A Structural Vector Autoregression Model of Monetary Policy in Australia

Andrea Brischetto and Graham Voss

RDP 1999-10 The Implications of Uncertainty for Monetary Policy

Geoffrey Shuetrim and Christopher Thompson

RDP 1999-09 Australian Banking Risk: The Stock Market's Assessment and the Relationship Between Capital and Asset Volatility

Marianne Gizycki and Brenton Goldsworthy

RDP 1999-08 Inflation Targeting and Output Stabilisation

Guy Debelle

RDP 1999-07 Job-search Methods, Neighbourhood Effects and the Youth Labour Market

Alexandra Heath

RDP 1999-06 Two Depressions, One Banking Collapse

Chay Fisher and Christopher Kent

RDP 1999-05 Trends in the Australian Banking System: Implications for Financial System Stability and Monetary Policy

Guy Debelle and Christopher Kent

RDP 1999-04 Value at Risk: On the Stability and Forecasting of the Variance-covariance Matrix

James Engel and Marianne Gizycki

RDP 1999-03 Householders' Inflation Expectations

Andrea Brischetto and Gordon de Brouwer

RDP 1999-02 Reservation Wages and the Duration of Unemployment

Alexandra Heath and Troy Swann

RDP 1999-01 The Phillips Curve in Australia

David Gruen, Adrian Pagan and Christopher Thompson

1998

RDP 9812 An Optimising Model for Monetary Policy Analysis: Can Habit Formation Help?

Jeffrey C. Fuhrer

RDP 9811 Effective Real Exchange Rates and Irrelevant Nominal Exchange-rate Regimes

Christopher Kent and Rafic Naja

RDP 9810 The Distribution and Measurement of Inflation

Jonathan Kearns

RDP 9809 Estimating Output Gaps

Gordon de Brouwer

RDP 9808 What Moves Yields in Australia?

Frank Campbell and Eleanor Lewis

RDP 9807 Inflation Targeting in a Small Open Economy

Nargis Bharucha and Christopher Kent

RDP 9806 Policy Rules for Open Economies

Laurence Ball

RDP 9805 The Origin of the Asian Financial Turmoil

Morris Goldstein and John Hawkins

RDP 9804 Stylised Facts of the Australian Labour Market

Guy Debelle and Troy Swann

RDP 9803 Forward-Looking Behaviour and Credibility: Some Evidence and Implications for Policy

Gordon de Brouwer and Luci Ellis

RDP 9802 Systematic Risk Characteristics of Corporate Equity

Geoffrey Shuetrim

RDP 9801 Labour Market Adjustment: Evidence on Interstate Labour Mobility

Guy Debelle and James Vickery

1997

RDP 9709 Asset-price Bubbles and Monetary Policy

Christopher Kent and Philip Lowe

RDP 9708 Measuring Traded Market Risk: Value-at-risk and Backtesting Techniques

Colleen Cassidy and Marianne Gizycki

RDP 9707 Internationalisation and Pricing Behaviour: Some Evidence for Australia

James O'Regan and Jenny Wilkinson

RDP 9706 Is the Phillips Curve a Curve? Some Evidence and Implications for Australia

Guy Debelle and James Vickery

RDP 9705 The Response of the Current Account to Terms of Trade Shocks: A Panel-data Study

Christopher Kent

RDP 9704 Financial Aggregates as Conditioning Information for Australian Output and Inflation

Ellis W. Tallman and Naveen Chandra

RDP 9703 The Implementation of Monetary Policy in Australia

Ric Battellino, John Broadbent and Philip Lowe

RDP 9702 The Lags of Monetary Policy

David Gruen, John Romalis and Naveen Chandra

RDP 9701 Inflation Regimes and Inflation Expectations

Joseph E. Gagnon

1996

RDP 9612 External Influences on Output: An Industry Analysis

Gordon de Brouwer and John Romalis

RDP 9611 A Markov-Switching Model of Inflation in Australia

John Simon

RDP 9610 Share Prices and Investment

Michael Andersen and Robert Subbaraman

RDP 9609 Australian Financial Market Volatility: An Exploration of Cross-country and Cross-market Linkages

Tro Kortian and James O'Regan

RDP 9608 Modelling the Australian Exchange Rate, Long Bond Yield and Inflationary Expectations

Alison Tarditi

RDP 9607 Towards an Understanding of Australia's Co-movement with Foreign Business Cycles

Nicolas de Roos and Bill Russell

RDP 9606 The Information Content of Financial Aggregates in Australia

Ellis W. Tallman and Naveen Chandra

RDP 9605 The Evolving Structure of the Australian Financial System

Malcolm Edey and Brian Gray

RDP 9604 Issues in Modelling Monetary Policy

Malcolm Edey and John Romalis

RDP 9603 Australia's Retirement Income System: Implications for Saving and Capital Markets

Malcolm Edey and John Simon

RDP 9602 Consumption and Liquidity Constraints in Australia and East Asia: Does Financial Integration Matter?

Gordon de Brouwer

RDP 9601 Why Does the Australian Dollar Move so Closely With the Terms of Trade?

David Gruen and Tro Kortian

1995

RDP 9513 Financial Market Volatility and the World-wide fall in Inflation

David Gruen

RDP 9512 Consumption, Investment and International Linkages

Guy Debelle and Bruce Preston

RDP 9511 Superannuation and Saving

Steven Morling and Robert Subbaraman

RDP 9510 Modelling Inflation in Australia

Gordon de Brouwer and Neil R. Ericsson

RDP 9509 Australian Wage and Price Inflation: 1971–1994

Lynne Cockerell and Bill Russell

RDP 9508 Are Terms of Trade Rises Inflationary?

David Gruen and Jacqueline Dwyer

RDP 9507 Macroeconomic Policies and Growth

Palle Andersen and David Gruen

RDP 9506 The Liberalisation and Integration of Domestic Financial Markets in Western Pacific Economies

Gordon de Brouwer

RDP 9505 Labour-productivity Growth and Relative Wages: 1978–1994

Philip Lowe

RDP 9504 The Link Between the Cash Rate and Market Interest Rates

Philip Lowe

RDP 9503 Monetary Policy Goals for Inflation in Australia

Guy Debelle and Glenn Stevens

RDP 9502 Price Stickiness and Inflation

Richard De Abreu Lourenco and David Gruen

RDP 9501 Modern Approaches to Asset Price Formation: A Survey of Recent Theoretical Literature

Tro Kortian

1994

RDP 9411 Demand Shocks, Inflation and the Business Cycle

Richard de Abreu Lourenco and Philip Lowe

RDP 9410 An Empirical Examination of the Fisher Effect in Australia

Frederic S. Mishkin and John Simon

RDP 9409 Default Risk and Derivatives: An Empirical Analysis of Bilateral Netting

Marianne Gizycki and Brian Gray

RDP 9408 The Supervisory Treatment of Banks' Market Risk

Stephanie Weston and Brian Gray

RDP 9407 Explaining Import Price Inflation: A Recent History of Second Stage Pass-through

Jacqueline Dwyer and Ricky Lam

RDP 9406 Reserve Bank Operations in the Foreign Exchange Market: Effectiveness and Profitability

Robert Andrew and John Broadbent

RDP 9405 External Debt and Liabilities of Industrial Countries

Mark Rider

RDP 9404 Wage Dispersion and Labour Market Institutions: A Cross Country Study

Michael Coelli, Jerome Fahrer and Holly Lindsay

RDP 9403 Capital Constraints and Employment

Jerome Fahrer and John Simon

RDP 9402 The Influence of Financial Factors on Corporate Investment

Karen Mills, Steven Morling and Warren Tease

RDP 9401 Resource Flows to the Traded Goods Sector

Jacqueline Dwyer and Christine Groeger

1993

RDP 9315 The Provision of Financial Services – Trends, Prospects and Implications

Warren Tease and Jenny Wilkinson

RDP 9314 The Demand for Money in Australia: New Tests on an Old Topic

Gordon de Brouwer, Irene Ng and Robert Subbaraman

RDP 9313 The Determinants of Corporate Leverage: A Panel Data Analysis

Geoffrey Shuetrim, Philip Lowe and Steve Morling

RDP 9312 A Re-examination of the Determinants of Australia's Imports

Jacqueline Dwyer and Christopher Kent

RDP 9311 Agency Costs, Balance Sheets and the Business Cycle

Philip Lowe and Thomas Rohling

RDP 9310 Explaining the Recent Performance of Australia's Manufactured Exports

Gordon Menzies and Geoffrey Heenan

RDP 9309 Alternative Concepts of the Real Exchange Rate: A Reconciliation

Jacqueline Dwyer and Philip Lowe

RDP 9308 Balance Sheet Restructuring and Investment

Karen Mills, Steve Morling and Warren Tease

RDP 9307 Explaining Forward Discount Bias: Is it Anchoring?

David W. R. Gruen and Marianne Gizycki

RDP 9306 Inventories and the Business Cycle

Darren Flood and Philip Lowe

RDP 9305 The Unemployment/Vacancy Relationship in Australia

Jerome Fahrer and Andrew Pease

RDP 9304 Exchange Rate Pass-through: The Different Responses of Importers and Exporters

Jacqueline Dwyer, Christopher Kent and Andrew Pease

RDP 9303 The 1893 Bank Crashes and Monetary Aggregates

David T. Merrett

RDP 9302 A Decade of Australian Banking Risk: Evidence from Share Prices

Marianne Gizycki and Mark Levonian

RDP 9301 The Response of Australian Stock, Foreign Exchange and Bond Markets to Foreign Asset Returns and Volatilities

Paul D. McNelis

1992

RDP 9216 The Evolution of Corporate Financial Structure: 1973-1990

Philip Lowe and Geoffrey Shuetrim

RDP 9215 The Evolution of Employment and Unemployment in Australia

Jerome Fahrer and Alexandra Heath

RDP 9214 The Cash Market in Australia

Bob Rankin

RDP 9213 The Impact of Financial Intermediaries on Resource Allocation and Economic Growth

Philip Lowe

RDP 9212 Changes in the Characteristics of the Australian Business Cycle: Some Lessons for Monetary Policy from the 1980s and Early 1990s

Adrian Blundell-Wignall and Michele Bullock

RDP 9211 Dividends and Taxation: A Preliminary Investigation

Tim Callen, Steven Morling and Jill Pleban

RDP 9210 A Contingent Claim Analysis of Risk-based Capital Standards for Banks

Mark Levonian and Sarah Kendall

RDP 9209 Financial Liberalisation and Consumption Behaviour

Adrian Blundell-Wignall, Frank Browne, Stefano Cavaglia and Alison Tarditi

RDP 9208 Credit Supply and Demand and the Australian Economy

Adrian Blundell-Wignall and Marianne Gizycki

RDP 9207 Indicators of Inflationary Pressure

Michael Coelli and Jerome Fahrer

RDP 9206 Loan Rate Stickiness: Theory and Evidence

Philip Lowe and Thomas Rohling

RDP 9205 Measuring the Cost of Capital in Australia

Nigel Dews, John Hawkins and Tracey Horton

RDP 9204 The Term Structure of Interest Rates, Real Activity and Inflation

Philip Lowe

RDP 9203 Real Exchange Rates and the Globalisation of Financial Markets

Adrian Blundell-Wignall and Frank Browne

RDP 9202 Some Tests of Competition in the Australian Housing Loan Market

Jerome Fahrer and Thomas Rohling

RDP 9201 The Impact of Real and Nominal Shocks on Australian Real Exchange Rates

Philip Lowe

1991

RDP 9112 The Role of Superannuation in the Financial Sector and in Aggregate Saving: A Review of Recent Trends

Malcolm Edey, Robin Foster and Ian Macfarlane

RDP 9111 Monthly Movements in the Australian Dollar and Real Short-term Interest Differentials: An Application of the Kalman Filter

Alison Tarditi and Gordon Menzies

RDP 9110 Resource Convergence and Intra-industry Trade

Philip Lowe

RDP 9109 Estimates of Private Sector Wealth

Tim Callen

RDP 9108 Australia's Real Exchange Rate - Is it Explained by the Terms of Trade or by Real Interest Differentials?

David WR Gruen and Jenny Wilkinson

RDP 9107 The Cost of Equity Capital in Australia: What Can We Learn from International Equity Returns?

Anthony J Richards

RDP 9106 The Direction of Australian Investment from 1985/86 to 1988/89

Christopher Kent and Patricia Scott

RDP 9105 Inflation in Australia: Causes, Inertia and Policy

Jerome Fahrer and Justin Myatt

RDP 9104 The Cross-country Relationship between Interest Rates and Inflation over Three Decades

Michele Bullock and Mark Rider

RDP 9103 The Failure of Uncovered Interest Parity: Is it Near-rationality in the Foreign Exchange Market?

David WR Gruen and Gordon Menzies

RDP 9102 Indicators of Economic Activity: A Review

Malcolm Edey and Jill Pleban

RDP 9101 The Effect of Steady Inflation on Interest Rates and the Real Exchange Rate in a World with Free Capital Flows

David WR Gruen