The Treasury Macroeconometric Model of Australia (EMMA) is a framework to support macroeconomic forecasting, and counterfactual policy and scenario analysis at the Treasury. It has been developed, tested and used since 2018. The focus of this paper is to outline the model’s structure and describe its place within the macroeconomic modelling literature.

Using census data, the authors find that the participation rates of both men and women with low educational attainment rose substantially between 2001 and 2006. However, the participation rates of people with no post-school qualifications remain significantly below those with post-school qualifications (around 10 percentage points for both men and women). Within the no post-school...