IDEAS home Printed from https://ideas.repec.org/a/bla/ecorec/v58y1982i3p263-282.html
   My bibliography  Save this article

A Comparison of Four Macroeconometric Models of the Australian Economy

Author

Listed:
  • W. J. McKIBBIN

Abstract

For more than a decade, macroeconometric models have been used in Australia as tools in policy analysis and as aids in the task of forecasting major economic variables. Until recently, however, not much work had been done in comparing these models. Challen and Hagger (1979a, 1979b) provide a useful introduction to existing Australian models which includes a summary of simulation studies previously undertaken with these models. In the current paper, the economic content of four of these models is summarized in a simple theoretical framework. Simulation analysis is also used to examine the dynamic adjustment mechanisms associated with the theoretical structure of each model. A general conclusion of this paper is that more work is needed on model evaluation in Australia, based on a wider range of criteria than have been used in the past.

Suggested Citation

  • W. J. McKIBBIN, 1982. "A Comparison of Four Macroeconometric Models of the Australian Economy," The Economic Record, The Economic Society of Australia, vol. 58(3), pages 263-282, September.
    • Handle: RePEc:bla:ecorec:v:58:y:1982:i:3:p:263-282
    DOI: 10.1111/j.1475-4932.1982.tb00374.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1475-4932.1982.tb00374.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1475-4932.1982.tb00374.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. W.J. McKibbin, 1980. "Macroeconometric Models of the Australian Economy: A Comparative Analysis," RBA Research Discussion Papers rdp8001, Reserve Bank of Australia.
    2. Jonson, P D & Trevor, R G, 1981. "Monetary Rules: A Preliminary Analysis," The Economic Record, The Economic Society of Australia, vol. 57(157), pages 150-167, June.
    3. P.D. Jonson & W.J. McKibbin & R.G. Trevor, 1980. "Models and Multipliers," RBA Research Discussion Papers rdp8006, Reserve Bank of Australia.
    4. W.H. Evans, 1979. "Financial Modelling in Australia," RBA Research Discussion Papers rdp7902, Reserve Bank of Australia.
    5. P. D. Jonson & R. G. Trevor, 1981. "Monetary Rules:A Preliminary Analysis," The Economic Record, The Economic Society of Australia, vol. 57(2), pages 150-167, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. J. W. Nevile, 1983. "The Role of Fiscal Policy in the Eighties," The Economic Record, The Economic Society of Australia, vol. 59(1), pages 1-15, March.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. P. D. Jonson & R. W. Rankin, 1986. "On Some Recent Developments in Monetary Economics," The Economic Record, The Economic Society of Australia, vol. 62(3), pages 257-267, September.
    2. W. E. NORTON & ROBIN McDONALD, 1984. "Is There a Macroeconomic World of One Simple Model?: Reply," The Economic Record, The Economic Society of Australia, vol. 60(2), pages 190-191, June.
    3. RUSSEL J. COOPER & KEITH R. McLAREN, 1983. "The Orani‐Macro Interface: An Illustrative Exposition," The Economic Record, The Economic Society of Australia, vol. 59(2), pages 166-179, June.
    4. JAMES H. BREECE & KEITH R. McLAREN & CHRISTOPHER W. MURPHY & ALAN A. POWELL, 1994. "Using the Murphy Model to Provide Short‐run Macroeconomic Closure for ORANI," The Economic Record, The Economic Society of Australia, vol. 70(210), pages 292-314, September.
    5. J. W. Nevile, 1983. "The Role of Fiscal Policy in the Eighties," The Economic Record, The Economic Society of Australia, vol. 59(1), pages 1-15, March.
    6. Taylor, John C. & Clements, Kenneth W., 1983. "A simple portfolio allocation model of financial wealth," European Economic Review, Elsevier, vol. 23(2), pages 241-251.
    7. Nevile, J W, 1983. "The Role of Fiscal Policy in the Eighties," The Economic Record, The Economic Society of Australia, vol. 59(164), pages 1-15, March.
    8. Stavrev, Emil, 2000. "A Comparative Analysis of the Czech Republic and Hungary. Using small Continuous-Time Macroeconometric Models," Transition Economics Series 19, Institute for Advanced Studies.
    9. A. Petridis, 1984. "Prospects for the Australian Economy in 1984," The Economic Record, The Economic Society of Australia, vol. 60(1), pages 1-15, March.
    10. Sajjad Akhtar & Sajid Manzoor, 1994. "The Demand for Financial Assets in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 33(2), pages 135-146.
    11. Vakhshtayn, Victor (Вахштайн, Виктор) & Erofeeva, Maria (Ерофеева, Мария), 2018. "Analysis of Actual Discussions in the Theory of Action and Practices: Skeptical vs Anti-Skeptic Trends in Conceptualization [Анализ Актуальных Дискуссий В Теории Действия И Практик: Скептицистские ," Working Papers 061812, Russian Presidential Academy of National Economy and Public Administration.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ecorec:v:58:y:1982:i:3:p:263-282. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/esausea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.