A Medium-Scale New Keynesian Open Economy Model of Australia

@inproceedings{Nimark2011AMN,
  title={A Medium-Scale New Keynesian Open Economy Model of Australia},
  author={Jarkko P. J{\"a}{\"a}skel{\"a} Kristoffer Nimark},
  year={2011}
}
  • Jarkko P. Jääskelä Kristoffer Nimark
  • Published 2011
en economy dynamic stochastic We estimate a new Keynesian op general equilibrium model of Australia with a large number of shocks, frictions and rigidities, matching a large number of observable time series. We find that both foreign and domestic shocks are important drivers of the Australian business cycle. We also find that the initial impact on inflation of an increase in demand for Australian commodities is negative, because of an improvement in the real exchange rate, although there is a… CONTINUE READING

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