Extending a SVAR Model of the Australian Economy

Mardi Dungey, Adrian Pagan

    Research output: Contribution to journalArticle

    Abstract

    Dungey and Pagan (2000) present a SVAR model of the Australian economy which models macroeconomic outcomes as transitory deviations from a deterministic trend. In this paper we extend that model in two directions. First, we relate it to an emerging literature on Dynamic Stochastic General Equilibrium modelling of small open economies. Second, we allow for both transitory and permanent components in the series and show how this modification has an impact on the design of macroeconomic models.
    Original languageEnglish
    Pages (from-to)1-20
    JournalEconomic Record
    Volume85
    Issue number268
    DOIs
    Publication statusPublished - 2009

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