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Extending a SVAR Model of the Australian Economy
journal contribution
posted on 2023-05-16, 23:39 authored by Dungey, MH, Pagan, ADungey 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.
History
Publication title
The Economic RecordVolume
85Issue
268Pagination
1-20ISSN
0013-0249Department/School
TSBEPublisher
Wiley-Blackwell Publishing AsiaPlace of publication
AustraliaRights statement
The definitive published version is available online at: http://www.interscience.wiley.comRepository Status
- Restricted