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Multi-Period Disaggregated Economic Modelling: Do we need it? Can we do it?

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  • Dixon, P.B.

    (University of Melbourne, Melbourne, VIC)

Abstract

The main disaggregated model of the Australian economy is ORANI. This paper briefly reviews ORANI applications since the mid 1970s. It then draws attention to the treatment in ORANI of time. Because ORANI is a one-period model, it provides an inadequate treatment of variables depending on forward-looking expectations. Nor is it an effective framework for handling embodied technological change, dated capital stocks and indivisibilities. It is argued that it is now both feasible and important to build a multi-period, disaggregated model for use in Australia in the 1990s and beyond.

Suggested Citation

  • Dixon, P.B., 1990. "Multi-Period Disaggregated Economic Modelling: Do we need it? Can we do it?," Economic Analysis and Policy, Elsevier, vol. 20(1), pages 55-71.
    • Handle: RePEc:eee:ecanpo:v:20:y:1990:i:1:p:55-71
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