کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5055830 1476539 2011 13 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
A small New Keynesian state space model of the Australian economy
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
A small New Keynesian state space model of the Australian economy
چکیده انگلیسی

Using a small New Keynesian state space macroeconomic model, we apply maximum likelihood estimation and the Kalman filter to obtain joint estimates of the unobservable medium-run paths of potential output and its normal rate of growth, the NAIRU, the neutral real interest rate and the subjective discount factor for Australia from 1984Q1 to 2006Q4. Using the estimated model we obtain dynamic forecasts for output, unemployment, and inflation to compare with the actual data from 2007Q1 to 2008Q4. Combining the estimated model with a monetary policy rule, we examine impulse responses of inflation and the output and unemployment gaps to shocks associated with the global financial crisis of 2008.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economic Modelling - Volume 28, Issues 1–2, January–March 2011, Pages 672-684
نویسندگان
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