Extending a SVAR model of the Australian economy

Blackwell Publishing Ltd
Publication Type:
Journal Article
Economic Record, 2009, 85 (268), pp. 1 - 20
Issue Date:
Filename Description Size
Thumbnail2009007607OK.pdf664.34 kB
Adobe PDF
Full metadata record
Dungey and Pagan (2000) present a SVAR model of the Australian economy which models macroeconomic outcomes as transitory deviations from a deterministic trend. In this paper we extend that model in two directions. First, we relate it to an emerging literature on Dynamic Stochastic General Equilibrium modelling of small open economies. Second, we allow for both transitory and permanent components in the series and show how this modi?cation has an impact on the design of macroeconomic models
Please use this identifier to cite or link to this item: