A Structural Model of Australia as a Small Open Economy

被引：23

作者：

Nimark, Kristoffer P. ^{[1
]}

机构：

[1] Reserve Bank Australia, Econ Res Dept, Sydney, NSW, Australia

来源：

AUSTRALIAN ECONOMIC REVIEW | 2009年 / 42卷 / 01期

关键词：

POLICY;

D O I：

10.1111/j.1467-8462.2009.00523.x

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper sets up and estimates a structural model of Australia as a small open economy using Bayesian techniques. Unlike other recent studies, the paper shows that a small micro-founded model can capture the open economy dimensions quite well. Specifically, the model attributes a substantial fraction of the volatility of domestic output and inflation to foreign disturbances, close to what is suggested by unrestricted VAR studies. The paper also investigates the effects of various exogenous shocks on the Australian economy.

引用

页码：24 / 41

页数：18

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