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RBA Glossary definition for DSGE model
DSGE model – Dynamic Stochastic General Equilibrium model
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The Unit-effect Normalisation in Set-identified Structural Vector Autoregressions
6 Oct 2022
RDP
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2224KB
approach to conducting Bayesian inference in set-identified models, because it eliminates the. ... approach to Bayesian inference in set-identified models. In particular, because the model is.
https://www.rba.gov.au/publications/rdp/2022/pdf/rdp2022-04.pdf
Is the Phillips Curve Still a Curve? Evidence from the Regions
31 Aug 2021
RDP
2021-09
An equation like the expectations-augmented Phillips curve also appears in many New Keynesian DSGE models, and is called the New Keynesian Phillips curve. ... Figure 3: Inflation-unemployment Trade-off in the RBA Phillips Curve Models. Model estimates.
https://www.rba.gov.au/publications/rdp/2021/2021-09/full.html
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Is the Phillips Curve Still a Curve? Evidence from the Regions
29 Aug 2021
RDP
PDF
1706KB
Comparison to Aggregate Models 23. 7.1 The RBA wage Phillips curve 23. ... DSGE models, and is called the New Keynesian Phillips curve. In these macroeconomic models with.
https://www.rba.gov.au/publications/rdp/2021/pdf/rdp2021-09.pdf
References
14 Feb 2020
RDP
2020-02
Gibbs CG, J Hambur and G Nodari (2018), ‘DSGE Reno: Adding a Housing Block to a Small Open Economy Model’, RBA Research Discussion Paper No 2018-04. ... Evidence from a Dynamic Dividend-Discount Model’, European Central Bank Working Paper Series No
https://www.rba.gov.au/publications/rdp/2020/2020-02/references.html
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The Distributional Effects of Monetary Policy: Evidence from Local Housing Markets
14 Feb 2020
RDP
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1878KB
models that are subject to endogeneity problems. For instance, the central bank may raise interest. ... Substituting the two expressions, we obtain a regression model that we can explore using local.
https://www.rba.gov.au/publications/rdp/2020/pdf/rdp2020-02.pdf
Model Dynamics
23 Aug 2019
RDP
2019-07
To provide some context for the results, we compare MARTIN's responses in the cash rate and exchange rate exercises to those from the RBA's DSGE model, MSM. ... Although the response of non-resource exports volumes in the DSGE model is similar to the
https://www.rba.gov.au/publications/rdp/2019/2019-07/model-dynamics.html
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MARTIN Has Its Place: A Macroeconometric Model of the Australian Economy
20 Aug 2019
RDP
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1571KB
equilibrium (DSGE) model, MSM, documented in Rees, Smith and Hall (2016) and extended by Gibbs,. ... that are specific to the Australian economy, which can be difficult to incorporate in a DSGE model.
https://www.rba.gov.au/publications/rdp/2019/pdf/rdp2019-07.pdf
References
10 Jul 2019
RDP
2019-05
Saunders T and P Tulip (2019), ‘A Model of the Australian Housing Markets’, RBA Research Discussion Paper No 2019-01. ... Svensson LEO (2017b), ‘Leaning against the Wind: Costs and Benefits, Effects on Debt, Leaning in DSGE Models, and a Framework
https://www.rba.gov.au/publications/rdp/2019/2019-05/references.html
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Cost-benefit Analysis of Leaning against the Wind
5 Jul 2019
RDP
PDF
1512KB
unemployment rate taken from, for example, a structural macroeconomic model. A quadratic loss. ... The Riksbank’s DSGE. model, Ramses, suggests that following a 100 basis point increase in the policy interest rate that is maintained for a.
https://www.rba.gov.au/publications/rdp/2019/pdf/rdp2019-05.pdf
The GFC Investment Tax Break
16 Jan 2019
RDP
PDF
1792KB
substitution: the primary mechanism through which tax incentives operate in a standard model. ... We focus on a polynomial of order 1 (i.e. a. linear model).
https://www.rba.gov.au/publications/rdp/2018/pdf/rdp2018-07.pdf