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The Macroeconomic Model Approach

1 Nov 1996 RDP 9608
Alison Tarditi
Consistent with traditional textbook models, the short-term interest rate in these macro models is endogenous. ... The textbook-style impulse responses obtained from the macroeconomic models are driven partly by the theoretical assumptions concerning
https://www.rba.gov.au/publications/rdp/1996/9608/macroeconomic-model-approach.html

Conclusion

1 Nov 1996 RDP 9608
Alison Tarditi
But the textbook-style results produced by these macro models have limited relevance for practical policymaking.
https://www.rba.gov.au/publications/rdp/1996/9608/conclusion.html

Introduction

1 Nov 1996 RDP 9608
Alison Tarditi
The textbook-style impulse responses obtained from the macroeconomic modelling of exchange rate and bond rate behaviour offer useful baseline profiles.
https://www.rba.gov.au/publications/rdp/1996/9608/introduction.html