Search: ECM
RBA Glossary definition for ECM
ECM – Error-correction ratio
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Being Unreserved: About the Reserve Bank Archives
12 Dec 2019
Bulletin
– December 2019
The Reserve Bank of Australia has a unique and rich archives.
https://www.rba.gov.au/publications/bulletin/2019/dec/being-unreserved-about-the-reserve-bank-archives.html
Core Equations
23 Aug 2019
RDP
2019-07
In all the ECM equations, the symbol. γ. is the speed of adjustment parameter and error. ... We model dwelling investment using an ECM with consumption, real mortgage interest rates and the relative price of dwelling investment.
https://www.rba.gov.au/publications/rdp/2019/2019-07/core-equations.html
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A Forward-looking Model of the Australian Dollar
13 Dec 2018
Bulletin
– December 2018
The exchange rate is an important mechanism that helps the economy adjust to external shocks.
https://www.rba.gov.au/publications/bulletin/2018/dec/a-forward-looking-model-of-the-australian-dollar.html
Transcript of Question & Answer Session on 23 October 2018
23 Oct 2018
Speech
Transcript of Question & Answer Session , Sydney
https://www.rba.gov.au/speeches/2018/sp-dg-2018-10-23-q-and-a-transcript.html
Reduced-form Model
6 May 2018
RDP
2018-05
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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Meet MARTIN, the RBA's new macroeconomic model
15 Mar 2018
Bulletin
– March 2018
AUD ECM: Hambur J, L Cockerell, C Potter, P Smith and M Wright (2015), ‘Modelling the Australian Dollar’, RBA Research Discussion Paper No 2015-12. ... Exports ECM: Cole D and S Nightingale (2016), ‘Sensitivity of Australian Trade to the Exchange
https://www.rba.gov.au/publications/bulletin/2018/mar/meet-martin-the-rbas-new-macroeconomic-model.html
Introduction
1 Jul 2016
RDP
2016-05
Our findings of highly persistent deviations from the law of one price imply a very slow speed of adjustment in aggregate error correction models (ECMs) of import prices. ... the ECM they use imposes the law of one price, first-stage pass-through is
https://www.rba.gov.au/publications/rdp/2016/2016-05/introduction.html
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The Baseline ECM
31 Dec 2015
RDP
2015-12
RDP 2015-12: Modelling the Australian Dollar 3. The Baseline ECM. Jonathan Hambur, Lynne Cockerell, Christopher Potter, Penelope Smith and Michelle Wright. ... Download the Paper 1.39. MB. The baseline ECM is specified to address the following question:.
https://www.rba.gov.au/publications/rdp/2015/2015-12/the-baseline-ecm.html
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Transitory and Persistent Income Inequality
31 Dec 2015
RDP
2015-15
We next use an error components model (ECM) to decompose residual income inequality. ... The ECM has been standard in the inequality literature since Gottschalk and Moffitt (1994).
https://www.rba.gov.au/publications/rdp/2015/2015-15/transitory-and-persistent-income-inequality.html