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Implementation of the WALRAS Model of the Australian Economy

Salter Working Paper Number 3

Implementation of the WALRAS Model of the Australian Economy by Robert McDougall and Craig Sugden is Working Paper number 3 of The SALTER Model of the World Economy: Model Structure, Database and Parameters.

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Contents

1   Introduction

2   The Structure of the Model
2.1   Introduction
2.2   Demand for Imputs ito Current Production
2.3   Investment Demand
2.4   Consumer Demand
2.5   Export Demand
2.6   Government Demand
2.7   Change in Stocks
2.8   The Price System
2.9   The Market-Clearing Equations
2.10   Miscellaneous Equations and Macro Identities

3   The Linearised WALRAS Model

4   Model Closure

5   The Condensed Version of the Model

6   The Data Base

References

Appendix   An Amendment to the Proposed Closure in OECD

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