RBA paper unpacks central bank’s DSGE model
Model designed for its simplicity and tailored to Australia
A research discussion paper published today (May 14) by the Reserve Bank of Australia (RBA) lifts the lid on the central bank's dynamic stochastic general equilibrium (DSGE) model.
In A multi-sector model of the Australian economy, authors Daniel Rees, Penelope Smith and Jamie Hall outline the core features of the model and show how it can be used to decompose the Australian business cycle into the economy's "underlying driving forces".
The authors say the model is tailored specifically to a
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