Inside a modern macroeconometric model. A guide to the Murphy model. With a contribution by Nicholas Conron
type: Item
instance of: scholarly article
title: Inside a modern macroeconometric model. A guide to the Murphy model. With a contribution by Nicholas Conron
zbMATH Open document ID: 0842.90025
author: Alan A. Powell
author: Christopher W. Murphy
published in: Lecture Notes in Economics and Mathematical Systems
publication date: 1995-10-09T00:00:00Z
review text: The book gives a detailed description of the structure and workings of a 100-equation quarterly macroeconometric model of the Australian economy, model designed for policy analysis and forecasting. Distinguishing features (i.a. relationships to macro- and microparadigms, long-run properties) and principal mechanisms (for instance the exchange rate mechanisms) are laid out. The structural form (i.e. the basic equations in their original specification) of the model are described in detail: wage behaviour, labour force participation, private consumption behaviour (including house rentals), enterprise behaviour (investment, employment), imports-exports (including non-commodity exports), inventories, price dynamics, public sector and financial markets. Simulations are run on monetary and fiscal shocks.
Mathematics Subject Classification ID: 91B64
Mathematics Subject Classification ID: 62P20
Mathematics Subject Classification ID: 91B62
Mathematics Subject Classification ID: 91B84
zbMATH DE Number: 803288
zbMATH Keywords: 100-equation quarterly macroeconometric model
zbMATH Keywords: Australian economy
zbMATH Keywords: policy analysis
zbMATH Keywords: forecasting
reviewed by: Jean H. P. Paelinck
MaRDI profile type: Publication
description: scientific article; zbMATH DE number 803288