Melbourne Institute of Applied Economic and Social Research - Research Publications
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ItemNo Preview AvailableDynamic economic models in discrete time: theory and empirical applications(Routledge, 2003)Economic behaviour is inherently dynamic. While things change continuously over time, much of economic analysis is based on discrete time, such as a month, a quarter, or a year, reflecting the periodic nature of data collecting and decisionmaking. This book introduces and develops the techniques of discrete time modelling starting with first-order difference equation models and building up to systems of difference equations, covering the following topics along the way: • nonlinear difference equation models • random walks and chaotic processes • optimization in discrete time models This easy-to-follow book will primarily be of interest to upper-level students carrying out economic modelling. The nature of the book – bridging a gap between dynamic economic models and empirical analysis – will mean that it will also appeal to all academics with an interest in econometrics and mathematical economics.
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ItemIntroduction to the Policy Forum: Macroeconomic Consequences of Macroprudential Policies(Wiley, 2016-03)This policy forum summarises the proceedings of the 2015 Melbourne Institute Macroeconomic Policy Meeting, which took place at the Melbourne Institute on 15–16 October. The focus of this conference was on macroprudential policies. Section 2 provides a brief description of the papers presented and the keynote address. Section 3 refers to the remarks of the panel on ‘Macroprudential Policies in Australia: Design and Effects’, and the discussion. Section 4 concludes.
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ItemRevisiting the Okun relationship(Taylor & Francis, 2017)Our article revisits the Okun relationship between observed unemployment rates and output gaps. We include in the relationship the effect of labour market institutions as well as age and gender effects. Our empirical analysis is based on 20 OECD countries over the period 1985–2013. We find that the share of temporary workers (which includes a high and rising share of young workers) played a crucial role in explaining changes in the Okun coefficient (the impact of the output gap on the unemployment rate) over time. The Okun coefficient is not only different for young, prime-age and older workers but also it decreases with age. From a policy perspective, it follows that an increase in economic growth will not only have the desired outcome of reducing the overall unemployment rate but it will also have the distributional effect of lowering youth unemployment.
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ItemComputational Macroeconomics for the Open Economy(MIT PRESS, 2008)
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ItemBank learning, terms of trade shocks and currency risk: Should only inflation matter for monetary policy?(ELSEVIER SCI LTD, 2007-10)
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ItemInflation targeting, learning and Q volatility in small open economies(ELSEVIER SCIENCE BV, 2007-11)
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ItemLearning and the monetary policy strategy of the European Central Bank(Elsevier BV, 2004-11-01)