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RBA Glossary definition for inflation

inflation – A measure of the change (increase) in the general level of prices.

Search Results

A Markov-switching Model of Inflation in Australia

1 Dec 1996 RDP 9611
John Simon
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1996/9611.html

A Markov-Switching Model of Inflation in Australia

1 Dec 1996 RDP 9611
John Simon
Research Discussion Paper – RDP 9611 A Markov-Switching Model of Inflation in Australia.
https://www.rba.gov.au/publications/rdp/1996/9611/

Conclusion

1 Dec 1996 RDP 9611
John Simon
The results suggest that, within this framework, inflation in Australia since the early 1960s is reasonably well modelled by a two-regime specification, with regime changes occurring in the early 1970s ... Within each regime, inflation in the preferred
https://www.rba.gov.au/publications/rdp/1996/9611/conclusion.html

Introduction

1 Dec 1996 RDP 9611
John Simon
These models can be highly successful in tracking actual inflation, given the behaviour of the explanatory variables. ... To address these issues, this paper applies an alternative modelling approach based on some recent studies that use Markov-switching
https://www.rba.gov.au/publications/rdp/1996/9611/introduction.html

References

1 Dec 1996 RDP 9611
John Simon
RDP 9611: A Markov-Switching Model of Inflation in Australia References. John Simon. ... de Brouwer, G. and N.R. Ericsson (1995), ‘Modelling Inflation in Australia’, Reserve Bank of Australia Research Discussion Paper No.
https://www.rba.gov.au/publications/rdp/1996/9611/references.html

Markov-Switching Models

1 Dec 1996 RDP 9611
John Simon
RDP 9611: A Markov-Switching Model of Inflation in Australia 2. Markov-Switching Models. ... A framework emphasising the integrated nature of inflation has been popular for some time.
https://www.rba.gov.au/publications/rdp/1996/9611/markov-switching-models.html

Empirical Results

1 Dec 1996 RDP 9611
John Simon
RDP 9611: A Markov-Switching Model of Inflation in Australia 4. Empirical Results. ... Model 2 relaxes the random walk assumption in specifying the high inflation state.
https://www.rba.gov.au/publications/rdp/1996/9611/empirical-results.html

Model Specification

1 Dec 1996 RDP 9611
John Simon
RDP 9611: A Markov-Switching Model of Inflation in Australia 3. Model Specification. ... and wage demands are based upon expected inflation as given in equation (5):.
https://www.rba.gov.au/publications/rdp/1996/9611/model-specification.html

Appendix A: The Hamilton Filter and Maximum Likelihood Estimation

1 Dec 1996 RDP 9611
John Simon
RDP 9611: A Markov-Switching Model of Inflation in Australia Appendix A: The Hamilton Filter and Maximum Likelihood Estimation.
https://www.rba.gov.au/publications/rdp/1996/9611/appendix-a.html