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RBA Glossary definition for IT
IT – Information Technology
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What is MARTIN and What is it Used for?
23 Aug 2019
RDP
2019-07
It describes relationships between key macroeconomic variables and is used to generate economic forecasts and conduct counterfactual scenario analysis. ... Because it is a reduced form model, the use of MARTIN to examine alternative policy choices is
https://www.rba.gov.au/publications/rdp/2019/2019-07/what-is-martin-and-what-is-it-used-for.html
MARTIN Has Its Place: A Macroeconometric Model of the Australian Economy
1 Aug 2019
RDP
2019-07
2. What is MARTIN and What is it Used for? MARTIN is a macroeconometric model of the Australian economy. ... However, it would make the model unstable in simulations because productivity growth could increase or decrease without bound.
https://www.rba.gov.au/publications/rdp/2019/2019-07/full.html
Appendix A: Estimation of Time-varying Constants in Error Correction Equations
23 Aug 2019
RDP
2019-07
Because the expansion of export volumes following a permanent decrease in trade costs or tariff barriers is likely to occur gradually and at an uneven rate, it may not adequately be
https://www.rba.gov.au/publications/rdp/2019/2019-07/appendix-a.html
Conclusion
23 Aug 2019
RDP
2019-07
It can shed light on the monetary transmission mechanism, accounts for the behaviour of many Australian macroeconomic variables and displays plausible dynamic properties. ... But while fulfilling these tasks is important, the real test of a model is that
https://www.rba.gov.au/publications/rdp/2019/2019-07/conclusion.html
Model Dynamics
23 Aug 2019
RDP
2019-07
Household consumption declines by a bit less than GDP. However, because it accounts for a large share of expenditure, consumption makes a large contribution to the overall contraction in economy activity. ... It turns out that this is also the case in
https://www.rba.gov.au/publications/rdp/2019/2019-07/model-dynamics.html
Core Equations
23 Aug 2019
RDP
2019-07
Rather, it is to highlight the economic intuition behind the key relationships that drive MARTIN's forecasts and scenarios. ... However, it would make the model unstable in simulations because productivity growth could increase or decrease without bound.
https://www.rba.gov.au/publications/rdp/2019/2019-07/core-equations.html
MARTIN Has Its Place: A Macroeconometric Model of the Australian Economy
1 Aug 2019
RDP
2019-07
Research Discussion Paper – RDP 2019-07 MARTIN Has Its Place: A Macroeconometric Model of the Australian Economy. Alexander Ballantyne, Tom Cusbert, Richard Evans, Rochelle Guttmann, Jonathan Hambur, Adam Hamilton, Elizabeth Kendall, Rachael
https://www.rba.gov.au/publications/rdp/2019/2019-07/sections.html
MARTIN Has Its Place: A Macroeconometric Model of the Australian Economy
1 Aug 2019
RDP
2019-07
However, it will not be possible to replicate the estimated equations that use these data series, unless the user has their own access to these data series. ... The code is designed to run in Eviews 10. While we expect that the codes should run in
https://www.rba.gov.au/publications/rdp/2019/2019-07/read-me.html
References
23 Aug 2019
RDP
2019-07
Journal of Macroeconomics, 4(1), Contributions, Article 4. Atkin T and G La Cava (2017), ‘The Transmission of Monetary Policy: How Does It Work?’, RBA Bulletin, September, pp 1–8.
https://www.rba.gov.au/publications/rdp/2019/2019-07/references.html
Introduction
23 Aug 2019
RDP
2019-07
It consists of a series of estimated equations that closely match the forecasting approach used at the Reserve Bank of Australia (RBA). ... Section 2 describes the principles underpinning the modelling framework and how it fits in to the RBA's approach
https://www.rba.gov.au/publications/rdp/2019/2019-07/introduction.html