Search: ECM
RBA Glossary definition for ECM
ECM – Error-correction ratio
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The Demand for Money in Australia: New Tests on an Old Topic
30 Nov 2009
RDP
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135KB
ECM estimatedincluding short-terminterest rate. Lim (1991) Real currency, realbank deposits andreal non-bankdeposits (GDPdeflator). ... ECM estimatedincluding bill rate. 7. Lim andDixon (1991). Real currency (GNEdeflator).
https://www.rba.gov.au/publications/rdp/1993/pdf/rdp9314.pdf
Australia’s Medium-run Exchange Rate: A Macroeconomic Balance Approach
2 Dec 2009
RDP
PDF
217KB
We also compared the results to ECM and OLS estimates. Appendix C contains the details.
https://www.rba.gov.au/publications/rdp/2003/pdf/rdp2003-03.pdf
Household Economic Inequality in Australia
25 Oct 2017
RDP
PDF
4842KB
27. 5.1 Error Components Model. We next use an error components model (ECM) to decompose residual incomeinequality. ... The ECM has been standard in the inequality literature sinceGottschalk and Moffitt (1994).
https://www.rba.gov.au/publications/rdp/2015/pdf/rdp2015-15.pdf
A State-space Approach to Australian GDP Measurement
4 Feb 2015
RDP
PDF
904KB
Research Discussion Paper. A State-space Approach to Australian GDP Measurement. Daniel Rees, David Lancaster and Richard Finlay. RDP 2014-12. The Discussion Paper series is intended to make the results of the current economic research within the
https://www.rba.gov.au/publications/rdp/2014/pdf/rdp2014-12.pdf
The Liberalisation and Integration of Domestic Financial Markets in Western Pacific Economies
1 Dec 2009
RDP
PDF
253KB
9 Cottarelli and Kourelis (1994) state that an ECM performs poorly, but this is because they. ... from the ECM as 1. 2. 1, β β. The pricing rules suggest that.
https://www.rba.gov.au/publications/rdp/1995/pdf/rdp9506.pdf
Towards an Understanding of Australia’s Co-movement with Foreign Business Cycles
1 Dec 2009
RDP
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148KB
TOWARDS AN UNDERSTANDING OF AUSTRALIA’SCO-MOVEMENT WITH FOREIGN BUSINESS CYCLES. Nicolas de Roos and Bill Russell. Research Discussion Paper. 9607. November 1996. Economic Research Department. Reserve Bank of Australia. We would like to especially
https://www.rba.gov.au/publications/rdp/1996/pdf/rdp9607.pdf
Do Interest Rates Affect Business Investment? Evidence from Australian Company-level Data
27 Apr 2018
RDP
PDF
1257KB
and economy-wide changes in the relative price of capital goods. This model can be re-parameterised as an error correction model (ECM), which allows for easy. ... While this. should not introduce any estimation issues, the model is no longer an ECM as
https://www.rba.gov.au/publications/rdp/2018/pdf/rdp2018-05.pdf
An Analysis of the Determinants of Imports
19 Nov 2012
RDP
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966KB
Finally, the full error correction models (ECM) are estimated. Initially four lags of each of the differenced explanators are included, and then the. ... These quite different paths to the new equilibrium in response to a demand shock can be explained by
https://www.rba.gov.au/publications/rdp/1989/pdf/rdp8910.pdf
Housing Wealth, Stock Market Wealth and Consumption: A Panel Analysis for Australia
2 Dec 2009
RDP
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130KB
23 Time series estimation techniques such as an error correction model (ECM) allow us alsoto judge how long it takes for the long-run effects of a permanent wealth change to ... IV ECM DOLS IV ECM DOLS. Yt 0.713 0.803 0.661 0.645 0.696 0.592.
https://www.rba.gov.au/publications/rdp/2003/pdf/rdp2003-07.pdf
Explaining Import Price Inflation: A Recent History of Second Stage Pass-through
30 Nov 2009
RDP
PDF
105KB
b) In the ECM, t-statistics for differenced terms are distributed standard t; thedistribution of the coefficient on p t( ) 1 lies somewhere between theDickey-Fuller and N(0, 1) distributions; ... c) In the ECM, statistics for differenced terms are
https://www.rba.gov.au/publications/rdp/1994/pdf/rdp9407.pdf