The information content of the yield curve in Australia

Article Abstract:

A study was conducted to investigate the expectation theory of the term structure of Australia's interest rates. Bivariate vector analysis shows that the spreads between the short-term and long-term rates contain information about changes in short-term rates. Furthermore, the spread between the official cash rate and the short-term rate Granger-causes changes in the cash rate. These results indicate that monetary authorities can manipulate the official cash rate to influence long-term rates.

Administration of General Economic Programs, Currency Stabilization Programs, Interest rates, Monetary policy, Currency stabilization

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The ascendancy of neo-liberalism in Australia

Article Abstract:

Australia is now suffering the consequences of neo-liberal policies that have dominated its economy for 13 years. These neo-liberal economic policies were implemented by two successive Labor governments in 1983-1991 under the leadership of Bob Hawke and in 1991-1996 led by Paul Keating. The continuation of the neo-liberal economic agenda under the new Coalition government headed by John Howard is discussed.

Economic policy, Political aspects, Liberalism

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Speed of issuance and the adequacy of disclosure in the 144A high-yield debt market

Article Abstract:

Research indicates that experienced investors place value on ongoing disclosure of financial performance, but not on that supplied by securities registration, and that they require premia, reducing over time, on 144A securities.

Analysis, Junk bonds, Private placements (Securities)

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