Extending a SVAR Model of the Australian Economy
Date
2009
Authors
Dungey, Mardi
Pagan, Adrian
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Volume Title
Publisher
Blackwell Publishing Ltd
Abstract
Dungey and Pagan (2000) present a SVAR model of the Australian economy which models macroeconomic outcomes as transitory deviations from a deterministic trend. In this paper we extend that model in two directions. First, we relate it to an emerging literature on Dynamic Stochastic General Equilibrium modelling of small open economies. Second, we allow for both transitory and permanent components in the series and show how this modification has an impact on the design of macroeconomic models.
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Keywords
Keywords: economic analysis; macroeconomics; modeling; stochasticity; Australasia; Australia
Citation
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Source
The Economic Record
Type
Journal article
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Restricted until
2037-12-31
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