Modelling inflation in Australia

Gordon de Brouwer and Neil R. Ericsson ()

No 530, International Finance Discussion Papers from Board of Governors of the Federal Reserve System (U.S.)

Abstract: This paper develops an empirically constant, data-coherent, error cor­rection model for inflation in Australia. The level of consumer prices is a mark-up over domestic and import costs, with adjustments for dynamics and relative aggregate demand. We address issues of cointegration, general to specific modelling, dynamic specification, model evaluation and test­ing' parameter constancy, and exogeneity. We also test this model against existing models of Australian prices: this model encompasses (but is not encompassed by) the existing models.

Keywords: Australia; Inflation (Finance) (search for similar items in EconPapers)
Date: 1995
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Related works:
Working Paper: Modelling Inflation in Australia (1995)
Journal Article: Modeling Inflation in Australia (1998)
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Persistent link: http://EconPapers.repec.org/RePEc:fip:fedgif:530

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