The Aggregate Production Function in the Treasury Macroeconomic (TRYM) Model
AbstractThe TRYM model is a dynamic general equilibrium model of the Australian economy that is maintained by the Australian Treasury. It is used by Treasury as one input into the process of policy analysis and economic forecasting. As part of ongoing review of the model, we have been examining the appropriate specification of the production function and the suitability of an aggregate production function. We have been particularly concerned with possible problems arising from various changes in the economy, including: Changes in industry ownership (privatisation) and the relative sizes of industry sectors; Changes in the composition of investment; Changes in product markets and labour markets due to market reforms and rising import-penetration ratios; Evidence that the rate of technical progress has varied over time; Evidence that historical movements of real wages are significantly outside of the scope of the production function. This paper reports on some ongoing developments to TRYM and results from investigation into these issues.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoPaper provided by Econometric Society in its series Econometric Society 2004 Australasian Meetings with number 261.
Date of creation: 11 Aug 2004
Date of revision:
Contact details of provider:
Phone: 1 212 998 3820
Fax: 1 212 995 4487
Web page: http://www.econometricsociety.org/pastmeetings.asp
More information through EDIRC
Production function; productivity growth; TRYM model;
Find related papers by JEL classification:
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christopher F. Baum).
If references are entirely missing, you can add them using this form.