Research Discussion Paper – RDP 2018-05 Do Interest Rates Affect Business Investment? Evidence from Australian Company-level Data

Contents

• Introduction
• Data and Stylised Facts
• Reduced-form Model
• Accounting for Sample Selection
• Conclusion
• Appendix A: Summary Statistics
• Appendix B: Tobin's q Models
• Appendix C: Multiple Imputation Model References
• References

We would like to thank Andre Liew, Hero Chheath and Joyce Tan for their invaluable help in collecting the company-level data. We would also like to thank James Bishop, Leon Berkelmans, Jarkko Jääskelä, Matthew Shapiro, John Simon, Luke Willard and seminar participants at the Australian Treasury and the BIS Asian Research Network Workshop for helpful comments and discussion. The views in this paper are ours and do not necessarily reflect those of the Reserve Bank of Australia. All errors are our own.