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RBA Glossary definition for ECM

ECM – Error-correction ratio

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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.
https://www.rba.gov.au/publications/rdp/1993/9312/appendix-3.html

The Impact of Superannuation on Household Saving

3 Mar 2004 RDP PDF 151KB
20. Table 3: ECM Results for Saving Equations – Long-run CoefficientsSample: 1966/67–2001/02. ... Standard errors on the long-run variables in the ECMs are calculated using a Bewley-Transformation andare Newey-West corrected for heteroskedasticity.
https://www.rba.gov.au/publications/rdp/2004/pdf/rdp2004-01.pdf

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.
https://www.rba.gov.au/publications/rdp/1994/9410/appendix-a.html
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Trade Invoicing Currency and First-stage Exchange Rate Pass-through

21 Jun 2016 RDP PDF 1136KB
aggregate error correction models (ECMs) of import prices. Third, we show that invoicing currency. ... Our results imply. that the speed of adjustment in an ECM framework for exchange rate changes to import prices.
https://www.rba.gov.au/publications/rdp/2016/pdf/rdp2016-05.pdf

Modelling Strategy and Results

31 Dec 2005 RDP 2005-12
Gianni La Cava
The Error Correction Model (ECM) specification can be derived from this static capital demand equation. ... The first model (EC1) is the standard ECM without cash flow in the formulation.
https://www.rba.gov.au/publications/rdp/2005/2005-12/modelling-strategy-results.html
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Household Saving and Asset Valuations in Selected Industrialised Countries

2 Dec 2009 RDP PDF 212KB
12. The associated short-term specification of the ECM is:. st = α1ECMt1α2yt α3pteqα3pt. ... From the ECM estimations, reported in Table 1, the following observations can bemade:. •
https://www.rba.gov.au/publications/rdp/2006/pdf/rdp2006-07.pdf

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.
https://www.rba.gov.au/publications/rdp/1995/9511/empirical-results.html

Reduced-form Model

6 May 2018 RDP 2018-05
Jonathan Hambur and Gianni La Cava
This model can be re-parameterised as an error correction model (ECM), which allows for easy identification of the long- and short-run dynamics:. ... While this should not introduce any estimation issues, the model is no longer an ECM as gross investment
https://www.rba.gov.au/publications/rdp/2018/2018-05/reduced-form-model.html
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The Demand for Money in Australia: New Tests on an Old Topic

30 Nov 2009 RDP PDF 135KB
ECM estimatedincluding short-terminterest rate. Lim (1991) Real currency, realbank deposits andreal non-bankdeposits (GDPdeflator). ... ECM estimatedincluding bill rate. 7. Lim andDixon (1991). Real currency (GNEdeflator).
https://www.rba.gov.au/publications/rdp/1993/pdf/rdp9314.pdf

An Empirical Examination of the Fisher Effect in Australia

30 Nov 2009 RDP PDF 96KB
The instruments used inthe results reported in Table 4 included the regressors of the ECM which were significant atthe 5% level. ... two step method and the ECM equations reported in Table 3 using similarMonte Carlo simulations to those used in Table A1.
https://www.rba.gov.au/publications/rdp/1994/pdf/rdp9410.pdf