An estimated New Keynesian policy model for Australia
Daniel Buncic and
Martin Melecký
MPRA Paper from University Library of Munich, Germany
Abstract:
An open economy New Keynesian policy model for Australia is estimated in this study. We investigate how important external shocks are as a source of macroeconomic fluctuations when compared to domestic ones. The results of our analysis suggest that the Australian business cycle and domestic inflation are most affected by domestic demand and supply shocks, respectively. However, domestic output also appears to be strongly affected by foreign demand shocks, and domestic inflation by exchange rate shocks. Domestic variables do not seem to be significantly affected by foreign supply and monetary policy shocks.
Keywords: New Keynesian Policy Modelling; Small Open Economy Model; Australia; US; Bayesian Estimation (search for similar items in EconPapers)
JEL-codes: E37 E40 F41 (search for similar items in EconPapers)
Date: 2007-07-18
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)
Downloads: (external link)
https://mpra.ub.uni-muenchen.de/4138/1/MPRA_paper_4138.pdf original version (application/pdf)
https://mpra.ub.uni-muenchen.de/5671/1/MPRA_paper_5671.pdf revised version (application/pdf)
Related works:
Journal Article: An Estimated New Keynesian Policy Model for Australia (2008) 
Working Paper: An Estimated, New Keynesian Policy Model for Australia (2005) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:4138
Access Statistics for this paper
More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().