|
|
|
|
||||
|
||||
A Medium-Scale New Keynesian Open Economy Model of AustraliaJarkko P. Jskelaffiliation not provided to SSRN Kristoffer P. Nimarkaffiliation not provided to SSRN 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 SeriesDate posted: March 14, 2011Suggested CitationContact Information
|
|
|||||||||||||||||
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
FAQ
Terms of Use
Privacy Policy
Copyright
This page was processed by apollo5 in 0.766 seconds
Add to Cart