A State-space Approach to Australian GDP Measurement

We use state-space methods to construct new estimates of Australian gross domestic product (GDP) growth from the published national accounts estimates of expenditure, income and production. Across a range of specifications, our measures are substantially less volatile than headline GDP growth. We conclude that much of the quarter-to-quarter volatility in Australian GDP growth reflects measurement error rather than true shifts in the level of economic activity.

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Year of publication:	2014-10
Authors:	Rees, Daniel ; Lancaster, David ; Finlay, Richard
Institutions:	Reserve Bank of Australia
Subject:	national income and product account \| business cycle

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Extent:	application/pdf
Series:	RBA Research Discussion Papers. - ISSN 1448-5109.
Type of publication:	Book / Working Paper
Classification:	E01 - Measurement and Data on National Income and Product Accounts and Wealth ; E32 - Business Fluctuations; Cycles
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010941106