An Estimated, New Keynesian Policy Model for Australia
Martin Melecký () and
Daniel Buncic ()
Macroeconomics from University Library of Munich, Germany
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: F41 E40 E37 C11 (search for similar items in EconPapers)
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) Track citations by RSS feed
Downloads: (external link)
Journal Article: An Estimated New Keynesian Policy Model for Australia (2008)
Working Paper: An estimated New Keynesian policy model for Australia (2007)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpma:0511026
Access Statistics for this paper
More papers in Macroeconomics from University Library of Munich, Germany
Bibliographic data for series maintained by EconWPA ().