Modelling inflation in Australia

Gordon De Brouwer and Neil 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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Citations: View citations in EconPapers (29)

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