Research Discussion Paper – RDP 2019-07 MARTIN Has Its Place: A Macroeconometric Model of the Australian Economy
Alexander Ballantyne, Tom Cusbert, Richard Evans, Rochelle Guttmann, Jonathan Hambur, Adam Hamilton, Elizabeth Kendall, Rachael McCririck, Gabriela Nodari and Daniel Rees
August 2019
Contents
- Introduction
- What is MARTIN and What is it Used for?
- A Stylised Description of the Model
- Core Equations
- Model Dynamics
- Conclusion
- Appendix A: Estimation of Time-varying Constants in Error Correction Equations
- References
We are grateful to Mardi Dungey and Adrian Pagan for their technical assistance and advice at various stages of the development of MARTIN. We would also like to thank Peter Downes, Chris Murphy, Warwick McKibbin, Tim Robinson, Christopher Gibbs, John Simon and Leon Berkelmans, as well as seminar participants at the Australian Treasury, Australian Conference of Economists, Macquarie University and the University of Tasmania Macroeconomics Workshop for helpful comments and suggestions. Many of our colleagues at the Reserve Bank of Australia helped us to build MARTIN. We would particularly like to acknowledge Peter Tulip for his extensive assistance as well as Martin McCarthy and Will Nixon, who both worked in the modelling team and contributed to the development of the model. The views expressed in this paper are our own and do not necessarily reflect the views of the Reserve Bank of Australia. Any errors are our own.