Extending a SVAR Model of the Australian Economy

Date

2009

Authors

Dungey, Mardi
Pagan, Adrian

Journal Title

Journal ISSN

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.

Description

Keywords

Keywords: economic analysis; macroeconomics; modeling; stochasticity; Australasia; Australia

Citation

Source

The Economic Record

Type

Journal article

Book Title

Entity type

Access Statement

License Rights

DOI

10.1111/j.1475-4932.2008.00525.x

Restricted until

2037-12-31