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RBA Glossary definition for ECM

ECM – Error-correction ratio

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28 Jan 2014 PDF 1207KB
exchange rates

Exchange Rate Pass-through: The Different Responses of Importers and Exporters

30 Nov 2009 RDP PDF 114KB
Nevertheless, the coefficient on the errorcorrection term is significant for both the P-H ECM and the UECM. ... b) The Short-Run Dynamics. An ECM was estimated using residuals of the P-H estimator.

A Perspective | Conference – 1993

12 Jul 1993 Conferences
Adrian Pagan
If the ECM term is included, the BWFH model actually has a much lower bias in forecasts than the random walk model, although it exhibits a slightly larger standard deviation. ... Another possibility would be to introduce a non-linear function of the

A Perspective

12 Feb 2007 Conferences PDF 30KB
RBA Conference Volume 1993

MARTIN Has Its Place: A Macroeconometric Model of the Australian Economy

20 Aug 2019 RDP PDF 1571KB
theory.3 Most of the model’s estimated equations are error correction models (ECMs).4 This. ... We model dwelling investment using an ECM with consumption, real mortgage interest rates and.

Appendix 3: Results

1 Dec 1993 RDP 9312
Jacqueline Dwyer and Christopher Kent
correction model (ECM). ... Standard errors of the ECM were corrected for hetroscedasticity and autocorrelation where necessary.

Appendix A: Power Calculations

1 Dec 1994 RDP 9410
Frederic S. Mishkin and John Simon
0.119. 0.142. Tables A2 and A3 contains the power calculations for test statistics from the Engle Granger two step method and the ECM equations reported in Table 3 using ... 0.363. 0.275. Table A3: Power of ECM Co-Integration Tests in Table 3.
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Empirical Results

1 Dec 1995 RDP 9511
Steven Morling and Robert Subbaraman
The model is estimated over the period 1959/60 to 1993/94 as an unrestricted error correction model (ECM). ... Table 4: Unrestricted ECM. Dependent variable: Æ non-super. saving (/Y), sample period: 1959/60–1993/94.

Empirical Assessment

31 Dec 2006 RDP 2006-07
Paul Hiebert
From the ECM estimations, reported in Table 1, the following observations can be made:. ... 0.96. 0.37. 0.39. Notes: ECM(1) indicates lagged error term from level equation.


31 Dec 2007 RDP 2007-09
Lynne Cockerell and Steven Pennings
To allow for the potential non-stationarity of the series, error-correction models (ECMs) of the following form are estimated:. ... Table 2: Investment ECM – Narrow Specification. Equipment (1). 1974–2006. Building (2).