Academic literature on the topic 'Interest rates – Australia'
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Journal articles on the topic "Interest rates – Australia"
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Kim, Suk-Joong. "Inflation news in Australia: its effects on exchange rates and interest rates." Applied Financial Economics 6, no. 3 (June 1996): 225–31. http://dx.doi.org/10.1080/096031096334240.
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Karfakis, Costas, and Suk-Joong Kim. "Exchange rates, interest rates and current account news: some evidence from Australia." Journal of International Money and Finance 14, no. 4 (August 1995): 575–95. http://dx.doi.org/10.1016/0261-5606(95)00020-f.
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DORAISAMI, ANITA. "THE EFFECTS OF ECONOMIC NEWS ON INTEREST RATES IN AUSTRALIA." Economic Papers: A journal of applied economics and policy 13, no. 2 (June 1994): 64–73. http://dx.doi.org/10.1111/j.1759-3441.1994.tb00088.x.
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Felmingham, Bruce, and Peter Mansfield. "A note on the stability of real interest rates in Australia." International Review of Economics & Finance 12, no. 4 (January 2003): 517–24. http://dx.doi.org/10.1016/s1059-0560(03)00015-7.
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Liu, Ming-Hua, Dimitris Margaritis, and Zhuo Qiao. "The Global Financial Crisis and Retail Interest Rate Pass-Through in Australia." Review of Pacific Basin Financial Markets and Policies 19, no. 04 (December 2016): 1650026. http://dx.doi.org/10.1142/s0219091516500260.
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In this paper, we examine the impact of the global financial crisis (GFC) on the interest rate pass-through for four types of loans in Australia: mortgages, residentially secured small business lending, nonsecured small business lending and personal loans. Australia is an interesting case study since its central bank lowered but also raised interest rates during the GFC. We find that after the onset of the crisis, there has been a shift in the way banks adjust their lending rates in response to changes in market interest rates; the markup has increased and there has been a drop in both short- and long-term pass-through from funding costs to lending rates. Closer analysis indicates that the drop in short-term pass-through is due to the slower response of banks to increases in funding costs. We also find asymmetries in the way banks adjust lending rates in relation to funding costs in the long-run for nonsecured small business lending and personal loans. The evidence shows that banks in Australia tightened lending standards and competed less aggressively for loans but more for deposits in response to heightened default risks following the global financial crisis. The wider margin allows banks to adjust their lending rates more slowly and asymmetrically.
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Sheppard, Jill, Marija Taflaga, and Liang Jiang. "Explaining high rates of political participation among Chinese migrants to Australia." International Political Science Review 41, no. 3 (May 22, 2019): 385–401. http://dx.doi.org/10.1177/0192512119834623.
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Studies of political participation regularly observe the underrepresentation of immigrant citizens and ethnic minorities. In contrast, evidence from Australia suggests that immigrant Australians are overrepresented in certain forms of participation, including donating money and working for a party or candidate. Drawing on major theories of ethnic political participation (including socialisation, recruitment and clientelism), this study uses 2013 Australian Election Study data to show that China-born migrants to Australia participate at higher rates than native-born and other migrant citizens. The study finds support for two explanatory theories: (a) that contributions of money by recently-arrived migrants are an aspect of clientelist relationships between migrants and legislators; and (b) that political interest in and knowledge of the host country’s political system are not necessary, and indeed perhaps even depress participation among newly-arrived migrants. These findings suggest an under-explored vein of transactional politics within established democratic systems.
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SHAN, JORDAN, and NICK PAPPAS. "The relative impacts of Japanese and US interest rates on local interest rates in Australia and Singapore: a Granger causality test." Applied Financial Economics 10, no. 3 (June 2000): 291–98. http://dx.doi.org/10.1080/096031000331699.
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TEASE, WARREN J. "The Expectations Theory of the Term Structure of Interest Rates in Australia." Economic Record 64, no. 2 (June 1988): 120–27. http://dx.doi.org/10.1111/j.1475-4932.1988.tb02047.x.
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Sathye, Milind. "Financial Crisis and Interest Rate Pass-Through in Australia." Review of Pacific Basin Financial Markets and Policies 16, no. 04 (December 2013): 1350023. http://dx.doi.org/10.1142/s0219091513500239.
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The study contributes to the extant literature on interest rate pass-through in two ways. First, we examine the impact of the global financial crisis on the historical relationship between policy rate and the home lending rate. Second, we provide evidence from a hitherto unexplored OECD country (Australia) using data from recent years and provide new insights for advancing the pass-through literature. We found complete or near-complete pass-through in the money market rates and a statistically significant temporary change in the relationship between the policy rate and home lending rate since the onset of the financial crisis.
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Koojaroenprasit, Sauwaluck. "Determinants of Foreign Direct Investment in Australia." Australian Journal of Business and Management Research 03, no. 08 (August 10, 2013): 20–30. http://dx.doi.org/10.52283/nswrca.ajbmr.20130308a03.
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Determinants of Foreign Direct Investment (FDI) in Australia were analyzed from 1986 to 2011, based on data availability. The determinants considered FDI inflows according to aggregate FDI inflows and FDI inflows by the top three source countries (USA, UK and Japan). Empirical studies identified four results. (1) For the determinants of FDI in Australia, a larger market size will attract more FDI, whereas more openness and a higher corporate tax rate will discourage FDI inflows into Australia. Lower customs duty and lower interest and depreciation of exchange rates will attract more FDI. The relationship between FDI inflows into Australia and wages was not significant. (2) For the determinants of US inward FDI in Australia, a larger market size will attract more US inward FDI in Australia, whereas more openness and an appreciation of the exchange rate will discourage US inward FDI in Australia. A negative and significant relationship was obtained between customs duty and US inward FDI in Australia. There were positive and significant relationships between US inward FDI in Australia and both the interest and corporate tax rates. (3) For the determinants of UK inward FDI in Australia, greater research and development in Australia will attract more UK inward FDI in Australia, whereas a higher corporate tax rate will discourage UK inward FDI in Australia. The positive relationship between market size and UK inward FDI in Australia was not significant. Openness, customs duty and inflation did not have significant relationships with UK inward FDI in Australia. (4) For the determinants of Japanese inward FDI in Australia, higher wages and greater research and development will attract more Japanese inward FDI in Australia, whereas higher customs duty and a higher corporate tax rate will discourage Japanese inward FDI in Australia. There was no significant relationship between Japanese inward FDI in Australia and either the interest or exchange rates.
Dissertations / Theses on the topic "Interest rates – Australia"
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O???Brien, Peter Banking & Finance Australian School of Business UNSW. "Term structure modelling and the dynamics of Australian interest rates." Awarded by:University of New South Wales. School of Banking and Finance, 2006. http://handle.unsw.edu.au/1959.4/28283.
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This thesis consists of two related parts. In the first part we conduct an empirical examination of the dynamics of Australian interest rates of six different maturities, covering the whole yield curve. This direct study of the long rates is quite novel. We use maximum likelihood estimation on a variety of models and find some results that are in stark contrast to previous studies. We estimate Poisson-jump diffusion (PJD) models and find very strong evidence for the existence of jumps in all daily interest rate series. We find that the PJD model fits short-rate data significantly better than a Bernoulli-jump diffusion model. We also estimate the CKLS model for our data and find that the only model not rejected for all six maturities is the CEV model in stark contrast to previous findings. Also, we find that the elasticity of variance estimate in the CKLS model is much higher for the short-rates than for the longer rates where the estimate is only about 0.25, indicating that different dynamics seem to be at work for different maturities. We also found that adding jumps to the simple diffusion model gives a larger improvement than comes from going from the simple diffusion to the CKLS model. In the second part of the thesis we examine the Flesaker and Hughston (FH) term structure model. We derive the dynamics of the short rate under both the original measure and the risk-neutral measure, and show that some criticisms of the bounds for the short rate may not be significant in actual applications. We also derive the dynamics of bond prices in the FH model and compare them to the HJM model. We also extend the FH model by allowing the martingale to follow a jump-diffusion process, rather than just a diffusion process. We derive the unique change of measure that guarantees the family of bond prices is arbitrage-free. We derive prices for caps and swaptions, and extend the results to include Bermudan swaptions and show how to price options with the jump-diffusion version of the FH model.
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Kremmer, Michael Leslie, and n/a. "An Empirical Study of the Dynamics of Nominal Interest Rates: Australian and Global Perspectives." Griffith University. School of Economics, 2003. http://www4.gu.edu.au:8080/adt-root/public/adt-QGU20051102.151052.
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This study explores the inter relationships between the nominal interest rates of Australia and its principal trading partners. The analysis focus on the short end of the yield curve --specifically, rates of up to one year to maturity. In essence, the study comprises a suite of essays, which together provide an overall understanding of the relevant relationship that is, in both depth and scope, greater than the sum of the individual essays. The inquiry begins with an investigation of the impact of the overnight information content of international interest rates upon the Australian domestic money market. The results indicate that the strongest information impact on Australian interest rates is from the overnight interest and exchange rates of the United States. This is followed, in the second essay, by an investigation of the relationship between domestically and internationally traded Australian dollar denominated, financial assets. The results indicate that a Euro-Australian dollar inter-bank deposit and Australian bank accepted bills are effectively the same assets. Based on this result the third essay investigates the extent to which the short-term nominal interest rates of Australia, the United Kingdom, the United States and Japan are consistent with the expectations theory of the interest rate term structure. The results indicate that nominal inter-bank deposit rates in all four currencies are broadly consistent with the expectations theory. In addition, two common stochastic trends are identified, which can be associated with the markets of the United States and Japan. The forth essay focuses on the bilateral relationships between the nominal interest rates of Australia, the United States, the United Kingdom and Japan, and aims at establishing the extent to which the observed data is consistent with interest rate parity conditions. It was found that, in the long run, and with some exceptions, there is strong support for all three of the usual parity conditions. These relationships are interpreted as a measure of the efficiency with which the interest rates are simultaneously determined across the four markets. The final essay brings together insights gained in the preceeding essays to help analysis the interactions between each of the four markets at each of the four maturities selected within the consistent framework of a single model. The results indicate that the system can be usefully conceptualised as interactions between two sub-systems. The first sub-system models the nexus between Australia and the United States, and the second sub-system, that between the United Kingdom and Japan. The interactions within and between these two sub-systems are found to change as the maturity increases. At the shortest maturity, Australian interest rates are directly affected by both sub-systems. In contrast, at the longest maturity, Australian interest rates anticipate those of the United States and are not directly affected by the second sub-system.
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Ji, Inyeob Economics Australian School of Business UNSW. "Essays on testing some predictions of RBC models and the stationarity of real interest rates." Publisher:University of New South Wales. Economics, 2008. http://handle.unsw.edu.au/1959.4/41441.
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This dissertation contains a series of essays that provide empirical evidence for Australia on some fundamental predictions of real business cycle models and on the convergence and persistence of real interest rates. Chapter 1 provides a brief introduction to the issues examined in each chapter and provides an overview of the methodologies that are used. Tests of various basic predictions of standard real business cycle models for Australia are presented in Chapters 2, 3 and 4. Chapter 2 considers the question of great ratios for Australia. These are ratios of macroeconomic variables that are predicted by standard models to be stationary in the steady state. Using time series econometric techniques (unit root tests and cointegration tests) Australia great ratios are examined. In Chapter 3 a more restrictive implication of real business cycle models than the existence of great ratios is considered. Following the methodology proposed by Canova, Finn and Pagan (1994) the equilibrium decision rules for some standard real business cycle are tested on Australian data. The final essay on this topic is presented in Chapter 4. In this chapter a large-country, small-country is used to try and understand the reason for the sharp rise in Australia??s share of world output that began around 1990. Chapter 5 discusses real interest rate linkages in the Pacific Basin region. Vector autoregressive models and bootstrap methods are adopted to study financial linkages between East Asian markets, Japan and US. Given the apparent non-stationarity of real interest rates a related issue is examined in Chapter 6, viz. the persistence of international real interest rates and estimation of their half-life. Half-life is selected as a means of measuring persistence of real rates. Bootstrap methods are employed to overcome small sample issues in the estimation and a non-standard statistical inference methodology (Highest Density Regions) is adopted. Chapter 7 reapplies the High Density Regions methodology and bootstrap half-life estimation to the data used in Chapters 2 and 5. This provides a robustness check on the results of standard unit root tests that were applied to the data in those chapters. Main findings of the thesis are as follows. The long run implications of real business cycle models are largely rejected by the Australia data. This finding holds for both the existence of great ratios and when the explicit decision rules are employed. When the small open economy features of the Australian economy are incorporated in a two country RBC model, a country-specific productivity boom seems to provide a possible explanation for the rise in Australia??s share of world output. The essays that examine real interest rates suggest the following results. Following the East Asian financial crisis in 1997-98 there appears to have been a decline in the importance of Japan in influencing developments in the Pacific Basin region. In addition there is evidence that following the crisis Korea??s financial market became less insular and more integrated with the US. Finally results obtained from the half-life estimators suggest that despite the usual findings from unit root tests, real interest rates may in fact exhibit mean-reversion.
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Hotham, John Patrick Banking & Finance Australian School of Business UNSW. "Management of interest rate risk in the banking book of Australian credit unions and building societies." Awarded by:University of New South Wales. Banking & Finance, 2008. http://handle.unsw.edu.au/1959.4/40810.
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The Basel Committee has released a consultative document (Basel (2003)) on the management and supervision of interest rate risk (IRR). This document outlines a standardised model to calculate a duration-based proxy for IRR in depository institution balance sheets. We utilise this methodology to define an IRR measure which we denote BIRRM (Basel Interest Rate Risk Measure). It is the change in the value of a financial institution produced by a 200 basis-point increase in interest rates at all maturities, relative to Tier I and Tier II capital. This study has three primary objectives. Firstly, we utilise BIRRM to provide an overview of IRR exposure of Australian Credit Unions and Building Societies (CUBS) over the period September 1997 to September 2007. Secondly, we seek an understanding of the relationship between BIRRM and measures of CUBS' interest rate sensitivity over a period of rising interest rates (December 1998 to September 2000) and another period of falling rates (September 2000 to December 2001). Finally, we seek an understanding of the economic factors that influence IRR exposure decisions of CUBS by modelling the determinants of CUBS' IRR exposure. We find that IRR exposure of CUBS is relatively low and, on average, CUBS are exposed to falling interest rates. We also find significant relationships between BIRRM and measures of CUBS' interest rates sensitivity consistent with a priori expectations, supporting the use of the Basel Committee's measure of IRR in identifying CUBS with large IRR exposures. The models examining the determinants of CUBS' IRR have relatively low explanatory power. There are however significant relationships between a number of factors and CUBS' exposure to changing rates.
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Tafazoli, Farid, and Mathias Westman. "Carry Trading & Uncovered Interest Rate Parity : An overview and empirical study of its applications." Thesis, Linköpings universitet, Företagsekonomi, 2011. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-70478.
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The thesis examine if the uncovered interest rate parity holds over a 10 year period between Japan and Australia/Norway/USA. The data is collected between February 2001 - December 2010 and is used to, through regression and correlation analysis, explain if the theory holds or not. In the thesis it is also included a simulated portfolio that shows how a carry trading strategy could have been exercised and proof is shown that you can indeed profit as an investor on this kind of trades with low risk. The thesis shows in the end that the theory of uncovered interest rate parity does not hold in the long term and that some opportunities for profits with low risk do exist.Uppsatsen undersöker om det icke kurssäkrade ränteparitetsvilkoret har hållit på en 10-års period mellan Japan och Australien/Norge/USA. Månadsdata från februari 2001 till december 2010 används för att genom regressionsanalys samt undersökning av korrelationer se om sambandet håller eller inte. I studien finns också en simulerad portfölj som visar hur en carry trading portfölj kan ha sett ut under den undersökta tidsperioden och hur man kan profitera på denna typ av handel med låg risk. Studien visar i slutet att teorin om det kursosäkrade ränteparitetsvilkoret inte håller i det långa loppet och att vissa möjligheter till vinst existerar.
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Claus, Edda. "Monetary policy in an inflation targeting world : evidence from the Antipodes." Phd thesis, 2005. http://hdl.handle.net/1885/151663.
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Borromeo, John. "Stock Market Anomalies for Companies Listed on the National Stock Exchange of Australia." Thesis, 2018. https://vuir.vu.edu.au/38627/.
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Purpose – Many theoretical financial theories attempt to explain the behaviour of stocks
and the structure of their returns, namely the Portfolio Theory, the Capital Asset Pricing
Model (CAPM), the Efficient Market Hypothesis (EMH), and Behavioural Finance.
These theories, however, have provided incomplete and contradictory explanations
regarding stock market anomalies. The aim of this research is to analyse the theory of
anomalies and develop a comprehensive theoretical model based on the extant financial
theories to develop an improved explanation about stock market anomalies.
The principal aim of the current research is to examine the presence of several
anomalies, covering macroeconomic, calendar and event variables, in a secondary stock
market within Australia, namely the National Stock Exchange of Australia (NSXA),
and a number of the sub-indices contained within this stock market.
Design/methodology/approach – This research empirically tests the efficiency of the
NSXA. The role played by each of the following independent variables is examined by
applying specific statistical techniques: long and short-term interest rates; exchange
rates; day of the week; weekends; months of the year; turn of the calendar year, January,
turns of the month; Australian end of financial year; Australian federal election, US
presidential election and sporting events
Findings – The results are interesting and contradict with the existing research. Though
the empirical analyse yields statistically significant results for some hypothesis and not
for others, the research finds that: a clear interest rate effect for both short and longterm
interest rates; an observable and strong monthly effect and suggestive relationship
between the NSX Resources sub-indices and Australian federal elections.
Research limitations/implications – the main limitations of the research related to: 1)
the particularity of investors in the NSXA falls out of the scope of this study, they may
provide further insight as to why the anomalous behaviour was observed; 2) difficulty
quantifying the physical location of the companies listed on the exchange as knowledge
of this may have been supportive in explaining trading patterns and anomalous
behaviour and 3) the impact of market capitalization and firm size was not considered due to a lack of available data. Future research may want to incorporate firm size when
undertaking analysis to determine if a relationship exists between company size and
anomalies.
The main implication of the research is that there is only partial confirmation for the
validity of the EMH. While the EMH is not rejected in each of the tests undertaken,
the fact that some anomalies are observed implies that the EMH cannot be seen as an
all-encompassing theory of how stock markets operate or behave. The current research
raises the concept of segmented market efficiency.
Practical implications – This research indicates that the NSXA does exhibit several
specific anomalies. The presence of such anomalies provides investors with greater
knowledge which can be used to maximise financial returns, in both the medium and
long term, by improving decisions relating to the timing of stock investment.
Originality/value – To the researcher’s best knowledge the focus of stock market
anomalies in an Australian context has been exclusively to examine the Australian
Stock Exchange (ASX). This is the first study to focus on a "secondary" smaller, less
well recognised stock market, the NSXA. Additionally, this is the first study to consider
economic, calendar and event variables in an integrated model to provide an improved
explanation of stock anomalies.
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Akhtaruzzaman, Md. "Interest rate risk of Australian financial firms." Thesis, 2013. http://hdl.handle.net/1959.13/1037246.
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Research Doctorate - Doctor of Philosophy (PhD)The Australian financial system has undergone major regulatory changes during the 1970s and 1980s. The most notable deregulatory measures include the removal of interest rate ceilings on bank deposits and loans, the liberalization of foreign bank entry restrictions, and the introduction of a floating exchange rate system, among others. These deregulatory measures have increased competitive pressure on financial firms from both home and abroad and reduced net interest margin, making financial firms more vulnerable to interest rate changes. The main purpose of this thesis is to examine the exposure of Australian financial firms to domestic and foreign interest rate risk during the post-deregulation period from 1993 to 2011. The exposure of financial firms to interest rate risk is of crucial importance to practitioners, academics, and regulators, as changes in interest rates may adversely affect the value of a firm as well as the stability of the financial system. The thesis contains three inter related empirical studies on the interest rate risk exposure of Australia financial firms. The first empirical study develops a novel interest rate term structure model for Australia in terms of three underlying factors: level, slope, and curvature and evaluates Australian financial firms’ exposure to these factors in a GARCH-M framework. The value of financial firms are found to be negatively affected by the change in interest rate level factor, while the value of non-financial firms are positively affected by the change in interest rate level factor. Small banks and insurance companies demonstrate positive exposure to the change in the slope factor. Real estate firms exhibit negative sensitivity to the change in the curvature factor. Though the interest rate level is found to be the most important factor, ignoring the slope and curvature factors could lead to an underestimation of the interest rate risk exposure of financial firms. These findings are robust to controlling for the orthogonalised market return, time-varying equity risk premium and financial crises. The second study is the first attempt to examine whether interest rate factors are priced in financial stock returns in an augmented Fama-French (1993) model. This study examines the pricing of Australian financial firm stocks using five common risk factors: the market risk, firm size, book-to-market ratio, long-term interest rate and term premium. The latter two factors have not been previously considered for pricing Australian stocks within the Fama-French framework. The market risk and term premium are priced in equity returns of financial firms, but the size and book-to-market factors are not priced in their equity returns. The third study provides new evidence for the transmission of global interest rate and return shocks to Australian financial stock returns using a Dynamic Conditional Correlation (DCC) GARCH model. Australian banks exhibit negative exposure to changes in both domestic and US interest rates, while US banks have only negative exposure to domestic interest rates. In addition, US interest rate volatility is found to be an important predictor of Australian bank stock return volatility. The time-varying conditional correlation between Australian and US financial stock returns is explained in terms of economic fundamentals and international financial crises. The results suggest that conditional return correlation increases during financial crises. The conditional correlation increases during the contractionary periods of the US economic cycle. Further, the net capital flow between Australia and the US is found to have a positive influence on the conditional correlation. This thesis extends the literature through an in-depth analysis of the domestic and foreign interest rate risk exposure of Australian financial firms. This research is important for the managers of financial firms and investors in order to design interest rate risk management strategies to cope with domestic and foreign interest rate movements. The findings of this thesis are also relevant to regulators for assessing the vulnerability of the Australian financial sector to global financial shocks.
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Wei-Lun, Liang, and 梁瑋倫. "An Empirical Study of the Interest Rate Parity in Australia." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/26509167926721117452.
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碩士國立高雄應用科技大學
金融資訊研究所
99
The aim of this paper is to examine whether the interest rate parity is truth or not, applying the Australian data from January 1990 to December 2010. A variety of time-series methodologies, cointegration test, and causality test, error correction models, are applied to investigate the relationship. The empirical results of the covered interest rate parity(CIRP) are summarized as follows: (1) The empirical results of Johensen’s cointegration show that the cointegration of forward premium and interest rate differential, which implied the CIRP is truth; (2) According to the results of the error correction model it is bi-directional causality between forward premium and interest rate differential。As to the uncovered interest rate parity (UIRP), the empirical results show as follows: (1) The empirical results of Johensen’s cointegration support there is a cointegration between forward exchange rate and expected futher exchange rate, which implied the UIRP is truth; (2) According to the results of the error correction model it is bi-directional causality between forward exchange rate and expected futher exchange rate。
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Mai, Mei-chia, and 麥梅嘉. "The Predictability in the Shape of the Term Structure of Interest Rates: Empirical Study in Australian Government Bonds." Thesis, 2008. http://ndltd.ncl.edu.tw/handle/68108467515962612014.
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碩士國立臺灣科技大學
財務金融研究所
96
In this paper, we employ the Nelson-Siegel model to fit Australian’s term structure of interest rates. The changes in the parameters reflect the changes in the shape of term structure of interest rates. Therefore, we use time series analysis to predict the change in the parameters. The results of prediction can be the indication of actual bond trading. The empirical study provides the following results. First, the Nelson-Siegel model provides a good fit to Australian’s term structure. Second, the complicated models do not guarantee the higher out-of-sample hit rate although these models do provide higher in-sample goodness of fit. Third, the trading performance of bet on curvature parameter is the best. Thus, the predictability of curvature is the best because the percentage of positive return is close to the hit rate.
Books on the topic "Interest rates – Australia"
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Valentine, T. J. Interest rates and money markets in Australia. Sydney: Financial Training and Analysis Services, 1991.
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Karagedikli, Özer. Do inflation targeting central banks behave asymmetrically?: Evidence from Australia and New Zealand. Wellington, N.Z: Economics Dept., Reserve Bank of New Zealand, 2004.
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Renton, N. E. Understanding the Australian economic debate: A lucid and opinionated primer to the key economic issues facing Australia in the 1990's. Including explanation and commentary on tax, wages, interest rates, housing, social securities, inflation, exchange rates, privatisation etc. Melbourne: Australian Investment Library, 1990.
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Lim, G. C. Australian money market interest rates: Leads and lags in the transmission process. Parkville, Vic: Dept. of Economics, University of Melbourne, 1991.
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Appleby, Allan. The Australian valuation and life annuity tables. Deakin: Australian Institute of Valuers and Land Economists, 1991.
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Ronald, Bewley, ed. "News" and the short-run determination of Australian exchange rates and interest rates: Research report. Kensington, NSW: Centre for Applied Economic Research, University of New South Wales, 1988.
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Siklos, Pierre L. Epilogue. Oxford University Press, 2017. http://dx.doi.org/10.1093/oso/9780190228835.003.0008.
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The manuscript for this book was largely written during 2015 and 2016. It was completed approximately two months before the last U.S. elections, but shortly after the referendum in the United Kingdom to exit the EU ended with a decision in favor of Brexit. As this is written, early in 2017, monetary policy conditions have changed little, with the Fed the only major central bank that has raised interest rates and only the third time since the end of 2008. Many other central banks, especially in small open economies (e.g., Canada, New Zealand, Australia), are either leaving monetary policy conditions unchanged or show a bias toward further easing if this in their best interests. At the more systemically important central banks, the talk has also shifted away from the necessity of additional loosening and in the direction of standing pat, with the hope that the future will perhaps bring about a long-awaited, but very gradual, raising of policy rates....
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Vanderplank, Kevin N. Treasury bond immunisation: An Australian perspectiveon duration (Working paper). Edith Cowan University, 1997.
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Arthurson, Kathy. Social Mix and the City. CSIRO Publishing, 2012. http://dx.doi.org/10.1071/9780643104440.
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Concern about rising crime rates, high levels of unemployment and anti-social behaviour of youth gangs within particular urban neighbourhoods has reinvigorated public and community debate into just what makes a functional neighbourhood. The nub of the debate is whether concentrating disadvantaged people together doubly compounds their disadvantage and leads to 'problem neighbourhoods'. This debate has prompted interest by governments in Australia and internationally in 'social mix policies', to disperse the most disadvantaged members of neighbourhoods and create new communities with a blend of residents with a variety of income levels across different housing tenures (public and private rental, home ownership). What is less well acknowledged is that interest in social mix is by no means new, as the concept has informed new town planning policy in Australia, Britain and the US since the post Second World War years.
Social Mix and the City offers a critical appraisal of different ways that the concept of ‘social mix’ has been constructed historically in urban planning and housing policy, including linking to 'social inclusion'. It investigates why social mix policies re-emerge as a popular policy tool at certain times. It also challenges the contemporary consensus in housing and urban planning policies that social mix is an optimum planning tool – in particular notions about middle class role modelling to integrate problematic residents into more 'acceptable' social behaviours. Importantly, it identifies whether social mix matters or has any real effect from the viewpoint of those affected by the policies – residents where policies have been implemented.
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Hayes, Margo. Small Cattle for Small Farms. CSIRO Publishing, 2008. http://dx.doi.org/10.1071/9780643095793.
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There are more small farms in Australia than there are large, and this trend continues as an increasing number of larger farms are subdivided into smaller parcels. A growing demand for lifestyle blocks, in Australia and overseas, is fuelling an interest in the quieter, smaller breeds of cattle which have particular appeal as they are more manageable to control and maintain.
Small Cattle for Small Farms is ideal for those people considering buying a small farm for lifestyle or commercial purposes.
Written in response to the many questions the author was asked by those seeking to purchase small cattle, this practical and easy to understand guide provides an excellent introduction to small farming.
The book assumes no prior experience with cattle, and covers all the basics to help you set up your small farm, including: types of cattle available, how to select your stock and care for them, stocking rates, fencing needs, vaccination requirements, methods of identification, and government requirements for land and stockowners.
For those wishing to show their cattle, there is a chapter explaining how to prepare for competitions. A section on marketing details how to make a successful entry into the commercial beef industry, and a list of cattle organisations directs readers to more specific information for their chosen breeds.
Book chapters on the topic "Interest rates – Australia"
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Fang, Victor, and Vincent C. S. Lee. "Testing the Expectations Hypothesis for Interest Rate Term Structure: Some Australian Evidence." In Computational Science and Its Applications — ICCSA 2003, 189–98. Berlin, Heidelberg: Springer Berlin Heidelberg, 2003. http://dx.doi.org/10.1007/3-540-44842-x_20.
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Mohammadian, Masoud, and Mark Kingham. "Hierarchical Neural Networks for Modelling Adaptive Financial Systems." In Artificial Neural Networks in Finance and Manufacturing, 109–23. IGI Global, 2006. http://dx.doi.org/10.4018/978-1-59140-670-9.ch006.
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In this chapter, an intelligent hierarchical neural network system for prediction and modelling of interest rates in Australia is developed. A hierarchical neural network system is developed to model and predict 3 months’ (quarterly) interest-rate fluctuations. The system is further trained to model and predict interest rates for 6-month and 1-year periods. The proposed system is developed with first four and then five hierarchical neural networks to model and predict interest rates. Conclusions on the accuracy of prediction using hierarchical neural networks are also reported.
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Chugh, Ritesh, and Srimannarayana Grandhi. "E-Tailing." In Strategic and Pragmatic E-Business, 297–313. IGI Global, 2012. http://dx.doi.org/10.4018/978-1-4666-1619-6.ch013.
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E-tailing is gaining momentum in Australia as traditional retailers are moving towards the adoption of a clicks and bricks strategy. Electronic retailing or E-tailing can be described as selling goods to customers directly through electronic means. Although this Business-to-Consumer phenomenon is not new, it is helping retailers to conduct business online with virtual storefronts and to reach local and global customers who are disadvantaged by geographical and other distinct barriers. This chapter starts by detailing the current state of e-tailing with supporting statistical figures from recent research with a specific emphasis on Australia. Overall growth in Internet accessibility rates across Australia clearly demonstrate e-tailing’s importance to online customers. Literature review once again proves the fact that Internet not only creates opportunities for retailers but also poses many challenges. Further discussion provides an understanding of the suitability of the retailing channel for different products and services. This study then analyses the usability of Australia’s top twenty-five retailers’ websites focussing on website usability factors, such as navigation, searchability, purchasing, layout and clarity, information content, and web browser compatibility. Australia’s e-tailing initiatives might be lagging behind most developed markets, however recent research indicates that there is a significant growth in this online activity and it will continue to attract more and more online customers in the coming years as retailers jump on the e-tailing bandwagon.
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Merlin, Mark, and William Raynor. "Modern Use and Environmental Impact of the Kava Plant in Remote Oceania." In Dangerous Harvest. Oxford University Press, 2004. http://dx.doi.org/10.1093/oso/9780195143201.003.0020.
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The kava plant, Piper methysticum Forst. f., is an attractive shrub in the pepper family, Piperaceae (figure 12.1). Known by various names in tropical Pacific, such as yagona, kava, kava kava, ’awa, seka, and sakau, it is propagated vegetatively, as are most of the traditional crops in the region. Kava has been used for many centuries to produce psychoactive preparations. Its active principles, several lipidlike substances known as kavalactones, are concentrated in the rootstock and roots. These psychoactive chemicals are ingested traditionally by Pacific islanders as cold-water infusions of chewed, ground, pounded, or otherwise macerated kava stumps and roots. Mind-altering kava preparations are, or once were, imbibed in a wide range of Pacific Ocean societies. These include peoples living in some lowland areas on the large Melanesian island of New Guinea in the western Pacific to very isolated islands such as those in Polynesian Hawai’i, 7,000 kilometers to the northeast (figure 12.2). Beyond this widespread local use in the tropical Pacific, utilization of kava in parts of Europe as a plant source for medicinal preparations has a relatively lengthy history. In Europe it has been used as a sedative, tranquilizer, muscle relaxant, relief from menopausal symptoms, and treatment for urinary tract and bladder ailments (Lebot et al. 1999). Over the past decade, there has been rapidly increasing interest in kava well beyond the areas of traditional use among Pacific Islanders (figure 12.3). This includes a huge surge in the use of kava products in Europe, North America, Australia, and elsewhere. Within the past 3 to 5 years there has been widespread recognition of its potential to emerge as a mainstream herbal product. Modern cultivation and use of kava in the Pacific has significantly expanded in some traditional use areas such as Vanuatu, Fiji, Tonga, Samoa, and Pohnpei. There are also significant signs of rejuvenated interest in kava cultivation in some traditional areas of use where it had been abandoned because of depopulation, political prohibition, or zealous missionary denunciation. Increasing use and cultivation of kava on these Pacific islands has been stimulated by local consumption rates and rising demand for commercial export.
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Shy, Tung-Kai, Robert J. Stimson, John Western, Alan T. Murray, and Lorraine Mazerolle. "Web GIS for Mapping Community Crime Rates." In Geographic Information Systems and Crime Analysis, 236–52. IGI Global, 2005. http://dx.doi.org/10.4018/978-1-59140-453-8.ch014.
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This chapter describes a prototype Web geographic information system (GIS) and spatial model application for mapping person crime rates in Brisbane, Australia. Our application, which integrates GIS functionality, a clustering model, client/server technology and the Internet, can generate useful documents such as maps and tables to examine and present crime patterns in space and time. Our chapter also demonstrates the usefulness and appeal of the Web GIS application as an information dissemination and spatial data analysis tool for promoting public awareness of social conditions. This chapter argues that Web-based data access is a better approach to delivering large volumes of crime data and geographical information to the public. We expect that police, community workers and citizens could utilize the application and associated maps to facilitate and enhance crime prevention activities. We note, however, that further development of Web-based GIS applications need to answer a number of pertinent questions regarding system maintenance, data integrity and neighborhood crime prevention.
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Blondel, Jacques, and Frédéric Médail. "Biodiversity and Conservation." In The Physical Geography of the Mediterranean. Oxford University Press, 2009. http://dx.doi.org/10.1093/oso/9780199268030.003.0039.
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The biodiversity of Mediterranean-climate ecosystems is of particular interest and concern, not only because all five of these regions (the Mediterranean basin, California, central Chile, Cape Province of South Africa, western and southern parts of Australia) are among the thirty-four hotspots of species diversity in the world (Mittermeier et al. 2004), but they are also hotspots of human population density and growth (Cincotta and Engelman 2000). This relationship is not surprising because there is often a correlation between the biodiversity of natural systems and the abundance of people (Araùjo 2003; Médail and Diadema 2006) and this, inevitably, raises conservation problems. Within the larger hotspot of the Mediterranean basin as a whole, ten regional hotspots have been identified. They cover about 22 per cent of the basin’s total area and harbour about 44 per cent of Mediterranean endemic plant species (Médail and Quézel 1997, 1999), as well as a large number of rare and endemic animals (Blondel and Aronson 1999). A key feature of these Mediterranean hotspots as a whole is their extraordinarily high topographic diversity with many mountainous and insular areas. Not surprisingly this results in high endemism rates and they contain more than 10 per cent of the total plant richness (see the recent synthesis of Thompson 2005). However, of all the mediterranean-type regions in the world, the Mediterranean basin harbours the lowest percentage (c.5%) of natural vegetation considered to be in ‘pristine condition’ (Médail and Myers 2004; Chapter 7). With an average of as many as 111 people per km2, one may expect a significant decline in biological diversity in the Mediterranean basin—a region that has been managed, modified, and, in places, heavily degraded by humans for millennia (Thirgood 1981; Braudel 1986; McNeill 1992; Blondel and Aronson 1999; Chapter 9). There are two contrasting theories that consider the relationships between humans and ecosystems in the Mediterranean (Blondel 2006, 2008). The first one is the ‘Ruined Landscape or Lost Eden’ theory, first advocated by painters, poets, and historians in the sixteenth and seventeenth centuries, and later by a large number of ecologists.
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Lowe, David, Stephen Conlon, Steve Murray, Lothar Weber, Michel de la Villefromoy, Euan Lindsay, Andrew Nafalski, Warren Nageswaran, and Tee Tang. "Labshare." In Internet Accessible Remote Laboratories, 453–67. IGI Global, 2012. http://dx.doi.org/10.4018/978-1-61350-186-3.ch023.
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Conventional undergraduate teaching laboratories are valuable in terms of their contributions to students learning but are generally costly to develop and maintain and often have extremely low overall utilization rates. These issues can be addressed through cross-institutional sharing of laboratories. This is, however, limited by the overarching requirement that students are physically co-located with the laboratory apparatus. In this chapter we will describe the nature of the challenges with regard to cross-institutional sharing and the potential benefits that can be achieved if a solution can be found. A possible solution is the use of remote laboratories that can be accessed across the internet with a suitable model for laboratory sharing that promotes both institutional and individual engagement. We describe the characteristics that such a model should have and show how the Labshare project is providing a nation-wide model within the Australian Higher Education context.
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Asher, Anthony, and John De Ravin. "The Age Pension Means Tests: Contorting Australian Retirement." In Who Wants to Retire and Who Can Afford to Retire? IntechOpen, 2020. http://dx.doi.org/10.5772/intechopen.91856.
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Most Australian retirees are likely to be subject to the Age Pension assets or income test at some point. Evidence is that many retirees adapt their consumption to increase Age Pension entitlements, but long-term implications are difficult to determine—even if the current rules were to remain in place. This chapter evaluates the current approach to means testing against the principles set out in a Department of Social Services discussion paper on this topic. We evaluate the implied “effective marginal tax rates” (EMTRs) on the assets of part pensioners who are subject to the assets test. We find that depending on a variety of parameters such as assumed future earnings rates, demographic status, drawdown strategy and the base level of assets held, the EMTRs are high enough to explain material distortions to savings decisions of those still in employment, and the spending and investment decisions of retirees. Optimal decisions in this context require contorted retirement strategies that do not appear to be in anyone’s interest. Some possible remedies are suggested, which should include incorporating the value of the principal residence within the assets test. The chapter therefore illustrates the application of principled analysis to policy issues of this sort.
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Boyce, Gordon. "The Growth of Shipping Services, 1902-1909." In The Growth and Dissolution of a Large-Scale Business Enterprise, 107–42. Liverpool University Press, 2012. http://dx.doi.org/10.5949/liverpool/9780986497391.003.0006.
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This chapter charts the expansion of the Furness Group from 1902 to 1909 as they responded to the growth of American liner competition and shifting environmental conditions by engaging in other trades and amassing other resources. It analyses trends in trade, freight rates, tonnage, profit; the Furness Group’s profitability between 1900 and 1909; changes in patterns of growth; the North Atlantic trade stalemate between 1902 and 1909; the poor financial performance of Manchester-based liners; the Furness Group’s attempt to develop new liner trades beyond the North Atlantic into the Persian Gulf, South America and Australia; developments in tramp and contract trades; fleet expansion and consolidation; and insurance, salvage, repair, and provisioning interests. It concludes that by changing the composition of the Furness Group’s interests between 1902 and 1909 the company developed new and productive trade interests beyond the North Atlantic and escaped the trade deadlock. They would adjust the direction of services and expansion again in 1910, once the demand for shipping services resurfaced.
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Fang, Victor, A. S. M. Sohel Azad, Jonathan A. Batten, and Chien-Ting Lin. "Business Cycles and the Impact of Macroeconomic Surprises on Interest Rate Swap Spreads: Australian Evidence." In Derivative Securities Pricing and Modelling, 379–98. Emerald Group Publishing Limited, 2012. http://dx.doi.org/10.1108/s1569-3759(2012)0000094018.
Full textConference papers on the topic "Interest rates – Australia"
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de Andrés, Adrián D., Raúl Guanche, César Vidal, and Íñigo J. Losada. "Location Targeting for Wave Energy Deployment From an Operation and Maintenance Perspective." In ASME 2015 34th International Conference on Ocean, Offshore and Arctic Engineering. American Society of Mechanical Engineers, 2015. http://dx.doi.org/10.1115/omae2015-41076.
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When looking for a location for a wave energy converter (WEC) installation, developers usually look for sites with high or very high wave energy resource. From this perspective, countries like Scotland or Ireland have made great effort to include this energy source in their energy mix due to their expected high untapped potential. However, higher resource carries marine operation restrictions. Because of that, the selection of a site for a WEC deployment, the installation, operation and maintenance factors have to be considered from the beginning. In this work an analysis of the suitable locations for the development of wave energy is performed based on the operation and maintenance (O&M) parameters. This study is performed across the globe coastlines taking the met-ocean climate data from Reguero et al (2011) global reanalysis database (GOW) developed at IH Cantabria. Firstly, an analysis of the global availability and accessibility levels is performed all around the globe taking different wave height thresholds into account. Seven specific locations (North-West Denmark, West of Ireland, Chile, North of Spain, West Portugal, South-West Australia and North of Scotland) with high interest on wave energy have been further analyzed and compared. Secondly, the O&M access limits are quantified in terms of the weather windows and the waiting period between available weather windows. A statistical analysis of these parameters is performed within different weather windows lengths (6 h, 12 h and 24 h). The seasonality of these parameters is also analyzed. Finally, a failure analysis will be carried out, simulating the repair operation along the lifecycle of the device for different failure rates and waiting times. The affection of this failure and repair scheme over the power production of a device analyzed previously in Andres et al (2014) will be presented. In this study, some locations with high resource (Spain, Nova Scotia) lead to medium to high accessibilities/availabilities due to the balance between resource and persistence of the weather conditions. Some locations with high resource such as Chile or Australia resulted inaccessible during very long periods of time due to the persistence of severe conditions and then not very recommended for novel converters with uncertain failure rates.
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"Interest rate sensitivities of externally and internally managed Australian REITs." In 20th International Congress on Modelling and Simulation (MODSIM2013). Modelling and Simulation Society of Australia and New Zealand, 2013. http://dx.doi.org/10.36334/modsim.2013.f5.yong.
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Zhou, Yuan, Trevor B. Anderson, Sarah D. Dods, and Ken Clarke. "Bit Rate Identification Using Delay-tap Asynchronous Waveform Sampling." In 2007 the Joint International Conference on Optical Internet (COIN) and Australian Conference on Optical Fibre Technology (ACOFT). IEEE, 2007. http://dx.doi.org/10.1109/coinacoft.2007.4519108.
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Zhao, Yucheng, Seong-sik Min, and Simon Fleming. "Passive Repetition Rate Multiplication in High-Power Figure-of-Eight Fibre Lasers." In 2007 the Joint International Conference on Optical Internet (COIN) and Australian Conference on Optical Fibre Technology (ACOFT). IEEE, 2007. http://dx.doi.org/10.1109/coinacoft.2007.4519204.
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Pelusi, Mark. "Optical time-division channel drop and demultiplexing at 4:1 bit rate using a single Mach-Zehnder modulator in a fiber loop." In 2007 the Joint International Conference on Optical Internet (COIN) and Australian Conference on Optical Fibre Technology (ACOFT). IEEE, 2007. http://dx.doi.org/10.1109/coinacoft.2007.4519167.
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Sabyrbekov, Rahat. "Software Development in Kyrgyzstan: Potential Source of Economic Growth." In International Conference on Eurasian Economies. Eurasian Economists Association, 2011. http://dx.doi.org/10.36880/c02.00256.
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In recent years, software development in the Kyrgyz Republic demonstrated 60-70% growth rate. Kyrgyz software products are exported to Central Asian neighbors and to the Western countries such as Italy, Australia and Holland. With the highest Internet penetration in the region and pool of qualified staff Kyrgyzstan has real chances to sustain the growth rate of the industry. Moreover, the cheap labor creates comparative advantage for local software producers. The break-up the Soviet Union lead to bankruptcies of traditional industries in the Kyrgyz Republic and thousands of highly qualified engineers were left unemployed. Simultaneously since independence Kyrgyz government implemented number of reforms to encourage development of Information and Communication Technologies which lead to the establishment of ICT infrastructure in the region.
The paper analyzes the development trend of the software production industry in the Kyrgyz Republic. We will also overview international experience as in the leading software producers as well as in neighboring countries. The study also builds projections for the next decade and draw on certain policy implications. In addition the paper will provide policy recommendations. The data used is from by the Association on IT companies, questionnaires, National Statistics Committee, Word Bank and Asian Development Bank.
Reports on the topic "Interest rates – Australia"
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Brassil, Anthony. The Consequences of Low Interest Rates for the Australian Banking Sector. Reserve Bank of Australia, December 2022. http://dx.doi.org/10.47688/rdp2022-08.
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There is a vast international literature exploring the consequences of low interest rates for various banking sectors. In this paper, I explore how this international literature relates to the Australian banking sector, which operates differently to other jurisdictions. In the face of low rates, the profitability of Australian banks has likely been less adversely affected than what the international literature would predict, but the flip side to this is that the pass-through of monetary policy to lending rates may have been more muted. I then use a recent advance in macrofinancial modelling to explore whether pass-through in Australia could turn negative – the so called 'reversal rate' – and find that the features of the Australian banking system mean a reversal rate is highly unlikely to exist in Australia.