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GTAP Resources: Resource Display

GTAP Resource #1684

"The extent and consequences of recent structural changes in the Australian economy, 1997 - 2002: Results from historical / decomposition simulations with MONASH"
by Giesecke, James


Abstract
The paper describes historical and decomposition simulations of the
Australian economy undertaken with the MONASH model. The simulations
cover the period 1996/97 to 2001/02. The paper first describes the
historical simulation. In the historical simulation, many of those
sectoral variables in MONASH which represent observable features of the
economy are determined exogenously. This allows the model to calculate
the outcomes for sectoral variables describing (typically unobservable)
features of the economy's structure, such as industry production
technologies and household tastes. The estimates for these structural
and taste variables play a key role in explaining the observable
features of the economy over the study period. To isolate the
contribution of each of these structural features to observed economic
outcomes, they are fed back into the model as exogenous shocks in the
decomposition simulation. The decomposition simulation is then used to
explain the causes of major changes in the Australian economy over the
period 1996/97 - 2001/02 in terms of changes in technologies, tastes and
other structural variables.


Resource Details (Export Citation) GTAP Keywords
Category: 2005 Conference Paper
Status: Published
By/In: Presented at the 8th Annual Conference on Global Economic Analysis, Lübeck, Germany
Date: 2005
Version:
Created: Giesecke, J. (4/20/2005)
Updated: Giesecke, J. (4/20/2005)
Visits: 1,218
No keywords have been specified.


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