Abstract

http://ssrn.com/abstract=1782486
 


 



A Medium-Scale New Keynesian Open Economy Model of Australia


Jarkko P. Jskel


affiliation not provided to SSRN

Kristoffer P. Nimark


Universitat Pompeu Fabra

February 20, 2011

Economic Record, Vol. 87, Issue 276, pp. 11-36, 2011

Abstract:     
We estimate a new Keynesian open economy dynamic stochastic general equilibrium model of Australia with a large number of shocks, frictions and rigidities, matching a large number of observable time series. We find that both foreign and domestic shocks are important drivers of the Australian business cycle. We also find that the initial impact on inflation of an increase in demand for Australian commodities is negative, because of an improvement in the real exchange rate, although there is a persistent positive effect on inflation that dominates at longer horizons.

Number of Pages in PDF File: 26

JEL Classification: C11, E40, E52

Accepted Paper Series


Date posted: March 14, 2011  

Suggested Citation

Jskel, Jarkko P. and Nimark, Kristoffer P., A Medium-Scale New Keynesian Open Economy Model of Australia (February 20, 2011). Economic Record, Vol. 87, Issue 276, pp. 11-36, 2011. Available at SSRN: http://ssrn.com/abstract=1782486 or http://dx.doi.org/10.1111/j.1475-4932.2010.00688.x

Contact Information

Jarkko P. Jskel (Contact Author)
affiliation not provided to SSRN
No Address Available
Kristoffer P. Nimark
Universitat Pompeu Fabra ( email )
Ramon Trias Fargas, 25-27
Barcelona, E-08005
Spain
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