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- Title
MARTIN Has Its Place: A Macroeconometric Model of the Australian Economy.
- Authors
Ballantyne, Alexander; Cusbert, Tom; Evans, Richard; Guttmann, Rochelle; Hambur, Jonathan; Hamilton, Adam; Kendall, Elizabeth; McCririck, Rachael; Nodari, Gabriela; Rees, Daniel M.
- Abstract
This paper introduces MARTIN, the Reserve Bank of Australia's new model of the Australian economy. MARTIN is an economy‐wide model used for forecasting and counterfactual scenario analysis. In contrast to other models used at the Bank (and at many other central banks) which adhere to a narrow theoretical view of how the economy operates, MARTIN is a macroeconometric model that consists of a system of reduced‐form equations built to strike a balance between theoretical rigour and empirical realism. We provide an overview of the model, describe its main equations and demonstrate its responses to various scenarios.
- Subjects
RESERVE Bank of Australia (Company); CENTRAL banking industry
- Publication
Economic Record, 2020, Vol 96, Issue 314, p225
- ISSN
0013-0249
- Publication type
Article
- DOI
10.1111/1475-4932.12531