Work

Modelling Inflation in Australia

Year: 1995

Type: article

Abstract: This paper develops an empirically constant, data-coherent, error correction model for inflation in Australia. The level of consumer prices is a mark-up over domestic and import costs, with adjustments for dynamics and relative aggregate demand. We address issues of cointegration, general to specific modelling, dynamic specification, model evaluation and testing' parameter constancy, and exogeneity. We also test this model against existing models of Australian prices: this model encompasses (but is not encompassed by) the existing models.

Source: International Finance Discussion Paper

DOI: 10.17016/ifdp.1995.530

Authors: Gordon De Brouwer, Neil R. Ericsson

Institutions: Federal Reserve, Federal Reserve Board of Governors

Language: English

Topic: Monetary Policy and Economic Impact

Subfield: General Economics, Econometrics and Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: hybrid

OpenAlex ID: W2964748236

FWCI: 6.356

Cites: 19

Cited by: 37

Related to: 10