Predicting financially false statements to detect frauds in companies has an increasing trend in recent studies. The manipulations in financial statements can be discovered by auditors when related financial records and indicators are analyzed in depth together with the experience of auditors in order to create knowledge to develop a decision support system to classify firms. Auditors may annot...

During the past two decades financial systems world-wide have developed rapidly in terms of size, industry structure, and the range of products and services produced. In Australia the size of the financial system, measured by total assets, has approximately doubled relative to nominal GDP in the past twenty years, while in a number of other countries the growth has been even more dramatic. More...

The widespread use of innovative financial transactions in international financial market in recent years is primarily driven by the need for greater financial risk management by businesses and financial investors. Many related factors have contributed to the needs of business for more sophisticated financial instruments, as well as to the financial world’s technological ability to meet that de...

The crisis of 2007-8 was a crisis of collateral. Since then, financial market participants – particularly in the euro area and the United States – have shown an increased appetite for secured lending. In short-term bank funding markets, there has been a pronounced shift towards repurchase arrangements. And covered bonds have gained in popularity in long-term funding markets. The cyclical flight...

The crisis of 2007–2008 was a crisis of collateral. Since then, financial market participants – particularly in the euro area and the United States – have shown an increased appetite for secured lending. In short-term bank funding markets, there has been a pronounced shift towards repurchase arrangements. And covered bonds have gained in popularity in long-term funding markets. The cyclical fli...

This paper investigates whether the degree and the nature of economic and monetary policy interdependence between the United States and the euro area have changed with the advent of EMU. Using real-time data, it addresses this issue from the perspective of financial markets by analysing the effects of monetary policy announcements and macroeconomic news on daily interest rates in the United Sta...

Market participants and researchers have always used information contained in financial prices to analyze economic and financial developments. Over the past three decades, larger and deeper financial markets have increased the amount and variety of information available, while declining computing costs have allowed more sophisticated techniques and models to be considered. As well, the rapid ri...

This article summarises the principal results of the research papers published by the Reserve Bank in 1994. As in previous years, the Bank’s research has been directed at issues of relevance to monetary and financial policy-making. It has been made available to the public through the Bank’s annual conference volume, Research Discussion Papers, Occasional Papers and Bulletin articles. Over recen...

financial literacy of investors reduces uncertainty on future decisions and increases predictability of investment policies in financial markets. thus, the lack of clear information on financial markets is a determining factor in the arrival of domestic and foreign capitals and their quick exit in case of crisis. the lack of transparency and basic knowledge on decisions and failure to provide r...