This paper introduces MARTIN – the Reserve Bank of Australia's (RBA) current model of the Australian economy. MARTIN is an economy-wide model used to produce forecasts and conduct counterfactual scenario analysis. In contrast to other large-scale models used at the RBA – and at many other central banks – which adhere to a narrow theoretical view of how the economy operates, MARTIN is a macroeconometric model that consists of a system of reduced form equations built to strike a balance between theoretical rigour and empirical realism. Most of the model's equations align closely with the way RBA staff typically interpret the behaviour of individual economic variables. However, combining these individual equations in a system can bring fresh insights that are not possible without model-based analysis. In the paper we provide an overview of the model, outline its core behavioural equations and describe its empirical properties. The Online Appendix presents the full set of model equations.

中文翻译：

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马丁有它的位置：澳大利亚经济的宏观经济计量模型

本文介绍了 MARTIN——澳大利亚储备银行 (RBA) 的当前澳大利亚经济模型。MARTIN 是一种用于生成预测和进行反事实情景分析的经济范围模型。与 RBA 和许多其他中央银行使用的其他大规模模型相比，这些模型坚持对经济运作方式的狭隘理论观点，而 MARTIN 是一个宏观经济计量模型，它由一个简化形式的方程系统组成，用于打击理论严谨性和经验现实主义之间的平衡。该模型的大多数方程与澳大利亚央行工作人员通常解释个别经济变量行为的方式密切相关。然而，将这些单独的方程组合在一个系统中可以带来新的见解，如果没有基于模型的分析是不可能的。在论文中，我们概述了该模型，概述了其核心行为方程并描述了其经验特性。在线附录提供了全套模型方程。