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RBA Glossary definition for VAR models
VAR models – Vector Auto Regression models
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Economic Forecasting and its Role in Making Monetary Policy
25 Feb 2001
Bulletin
PDF
57KB
As far back asthe early 1970s, US economists debated theaccuracy of various kinds of model-basedforecast. ... 3. In slightly more technical language, with a linear model and a quadratic objective function, certainty equivalenceis the optimal strategy.
https://www.rba.gov.au/publications/bulletin/1999/sep/pdf/bu-0999-1.pdf
The Death of Inflation?
23 Feb 2001
Bulletin
PDF
42KB
could be exploitedconsistently to achieve lower unemployment,at the expense of higher (but stable) inflation.It would be easy to exaggerate the extent ofthe misunderstanding of the ‘model’. ... If amisunderstanding of the model was the basiccause of
https://www.rba.gov.au/publications/bulletin/1997/may/pdf/bu-0597-2.pdf
Inflation Expectations and Economic Literacy
29 Jan 2024
Bulletin
- January 2024
PDF
1213KB
https://www.rba.gov.au/publications/bulletin/2024/jan/pdf/inflation-expectations-and-economic-literacy.pdf
Exchange Rates and Crises
28 Feb 2001
Bulletin
PDF
62KB
thetechnicians would call ‘model uncertainty’:there is no close, well-established relationshipbetween the fundamentals of the economy andthe exchange rate. ... The second major issue behind exchangerate fluctuations revolves around perceptionsof how
https://www.rba.gov.au/publications/bulletin/1998/feb/pdf/bu-0298-3.pdf
The Monetary Policy Transmission Process: What Do We Know? (And What Don’t We Know?)
20 Oct 2003
Bulletin
PDF
410KB
I don’t want to get into a detailed discussionof these and other models. ... 10. Murphy and TRYM also model the transmission to prices. In these models, prices respond quite quickly to achange in monetary policy because the exchange rate is assumed to
https://www.rba.gov.au/publications/bulletin/1995/sep/pdf/bu-0995-3.pdf
Banking - The Changing Scene
23 Feb 2001
Bulletin
PDF
43KB
A bank whose systemsare not up to scratch will have to use thestandard model. ... For thisreason, an incremental approach torecognising models for credit risk supervisionis likely to emerge.
https://www.rba.gov.au/publications/bulletin/1997/oct/pdf/bu-1097-5.pdf
Monetary Policy and Financial Stability
9 Dec 2004
Bulletin
PDF
67KB
We in Australia are very comfortable with this model, although we adopted a less rigid one than the early starters like New Zealand and Canada. ... They are then re-assured by standard risk-management models, which are based on Australia’s history of
https://www.rba.gov.au/publications/bulletin/2004/dec/pdf/bu-1204-1.pdf
The Monetary Policy Process at the RBA
18 Oct 2001
Bulletin
PDF
72KB
The model resultscan some times be sufficientlycounter-intuitive (at least to me) that we spenda lot of time questioning how they came about,which usually means examining properties ofthe models which ... 26. mathematics of such a model, of course, butwe
https://www.rba.gov.au/publications/bulletin/2001/oct/pdf/bu-1001-4.pdf
Reform of the ATM System - One Year On
8 Jun 2010
Bulletin
PDF
251KB
Reserve Bank of Australia Bulletin June 2010
https://www.rba.gov.au/publications/bulletin/2010/jun/pdf/bu-0610-6.pdf
Central Bank Co-Operation in Asia
17 Jun 2003
Bulletin
PDF
47KB
the emphasis was very much onco-operation, not economic and politicalintegration on the European model –neither an ERM nor an EMU have anyrelevance for Asian countries at this stageof their development;
https://www.rba.gov.au/publications/bulletin/1996/sep/pdf/bu-0996-5.pdf