Modelling Inflation in Australia

Gordon de Brouwer and Neil R. Ericsson ()
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Gordon de Brouwer: Reserve Bank of Australia

RBA Research Discussion Papers from Reserve Bank of Australia

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.

Date: 1995-11
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Related works:
Working Paper: Modelling inflation in Australia (1995)
Journal Article: Modeling Inflation in Australia (1998)
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