Titlebook: Inside a Modern Macroeconometric Model; A Guide to the Murph Alan A. Powell,Christopher W. Murphy Book 19951st edition Springer-Verlag Berl

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Inside a Modern Macroeconometric Model978-3-662-00771-6Series ISSN 0075-8442 Series E-ISSN 2196-9957

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https://doi.org/10.1007/978-3-662-00771-6Keynes; Wirtschaftspolitik; econometrics; economic policy; economics; efficiency; employment; equilibrium; e

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Distinguishing Features of MMMM is a 100-equation, quarterly, macroeconometric model of the Australian economy designed for policy analysis and forecasting. This chapter highlights the model’s distinctive features as background for the remainder of this book.

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Import Supply and DemandBecause Australia is taken to be too small for our demand to affect the world market prices of the things we import, description of the supply of imports involves little more than formalities. These are set out in section 13.2. The necessary notation is listed in Table 13.2.1.