An Estimated, New Keynesian Policy Model for Australia

Martin Melecký and Daniel Buncic

Macroeconomics from University Library of Munich, Germany

Abstract: A two-block open economy model is estimated in this paper using Australian and U.S. data. Evaluation of the estimated model is carried out in relation to a simple closed economy alternative. Namely, we inspect the implied transmission mechanisms, and examine the relative out-of-sample forecasting performance of the closed and open economy models.

Keywords: DSGE Model; Open Economy; Australia; U.S.; Bayesian Estimation. (search for similar items in EconPapers)
JEL-codes: C11 E37 E40 F41 (search for similar items in EconPapers)
Pages: 40 pages
Date: 2005-11-29
New Economics Papers: this item is included in nep-dge, nep-for and nep-mac
Note: Type of Document - pdf; pages: 40
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Related works:
Journal Article: An Estimated New Keynesian Policy Model for Australia (2008)
Working Paper: An estimated New Keynesian policy model for Australia (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpma:0511026

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