RDP 2013-07: An Empirical BVAR-DSGE Model of the Australian Economy
Equation
C
t
+
P
1
,
t
P
t
(
I
1
,
t
+
I
2
,
t
)
+
B
t
+
S
t
B
t
f
+
M
t
=
R
t
−
1
B
t
−
1
π
t
+
W
1
,
t
L
1
,
t
+
W
2
,
t
L
2
,
t
+
P
1
,
t
P
t
r
1
,
t
K
1
,
t
−
1
+
P
2
,
t
P
t
r
2
,
t
K
2
,
t
−
1
+
Π
1
,
t
+
Π
2
,
t
+
R
t
−
1
f
S
t
B
t
−
1
f
π
t
Φ
(
h
t
−
1
,
e
u
t
−
1
r
p
)
+
M
t
−
1
π
t
+
T
t
.
MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGceaqabeaacaWGdb WaaSbaaSqaaiaadshaaeqaaOGaey4kaSYaaSaaaeaacaWGqbWaaSba aSqaaiaaigdacaGGSaGaamiDaaqabaaakeaacaWGqbWaaSbaaSqaai aadshaaeqaaaaakmaabmaabaGaamysamaaBaaaleaacaaIXaGaaiil aiaadshaaeqaaOGaey4kaSIaamysamaaBaaaleaacaaIYaGaaiilai aadshaaeqaaaGccaGLOaGaayzkaaGaey4kaSIaamOqamaaBaaaleaa caWG0baabeaakiabgUcaRiaadofadaWgaaWcbaGaamiDaaqabaGcca WGcbWaa0baaSqaaiaadshaaeaacaWGMbaaaOGaey4kaSIaamytamaa BaaaleaacaWG0baabeaaiiaakiab=1da9maalaaabaGaamOuamaaBa aaleaacaWG0bGaeyOeI0IaaGymaaqabaGccaWGcbWaaSbaaSqaaiaa dshacqGHsislcaaIXaaabeaaaOqaaiabec8aWnaaBaaaleaacaWG0b aabeaaaaGccqGHRaWkcaWGxbWaaSbaaSqaaiaaigdacaGGSaGaamiD aaqabaGccaWGmbWaaSbaaSqaaiaaigdacaGGSaGaamiDaaqabaGccq GHRaWkcaWGxbWaaSbaaSqaaiaaikdacaGGSaGaamiDaaqabaGccaWG mbWaaSbaaSqaaiaaikdacaGGSaGaamiDaaqabaGccqGHRaWkdaWcaa qaaiaadcfadaWgaaWcbaGaaGymaiaacYcacaWG0baabeaaaOqaaiaa dcfadaWgaaWcbaGaamiDaaqabaaaaOGaamOCamaaBaaaleaacaaIXa GaaiilaiaadshaaeqaaOGaam4samaaBaaaleaacaaIXaGaaiilaiaa dshacqGHsislcaaIXaaabeaakiabgUcaRmaalaaabaGaamiuamaaBa aaleaacaaIYaGaaiilaiaadshaaeqaaaGcbaGaamiuamaaBaaaleaa caWG0baabeaaaaGccaWGYbWaaSbaaSqaaiaaikdacaGGSaGaamiDaa qabaGccaWGlbWaaSbaaSqaaiaaikdacaGGSaGaamiDaiabgkHiTiaa igdaaeqaaaGcbaGaey4kaSIaeuiOda1aaSbaaSqaaiaaigdacaGGSa GaamiDaaqabaGccqGHRaWkcqqHGoaudaWgaaWcbaGaaGOmaiaacYca caWG0baabeaakiabgUcaRmaalaaabaGaamOuamaaDaaaleaacaWG0b GaeyOeI0IaaGymaaqaaiaadAgaaaGccaWGtbWaaSbaaSqaaiaadsha aeqaaOGaamOqamaaDaaaleaacaWG0bGaeyOeI0IaaGymaaqaaiaadA gaaaaakeaacqaHapaCdaWgaaWcbaGaamiDaaqabaaaaOGaeuOPdy0a aeWaaeaacaWGObWaaSbaaSqaaiaadshacqGHsislcaaIXaaabeaaki aacYcacaWGLbWaaWbaaSqabeaacaWG1bWaa0baaWqaaiaadshacqGH sislcaaIXaaabaGaamOCaiaadchaaaaaaaGccaGLOaGaayzkaaGaey 4kaSYaaSaaaeaacaWGnbWaaSbaaSqaaiaadshacqGHsislcaaIXaaa beaaaOqaaiabec8aWnaaBaaaleaacaWG0baabeaaaaGccqGHRaWkca WGubWaaSbaaSqaaiaadshaaeqaaOGaaiOlaaaaaa@BE75@