A State-Space Approach to Australian Gross Domestic Product Measurement

Daniel Rees, David Lancaster and Richard Finlay

Australian Economic Review, 2015, vol. 48, issue 2, 133-149

Abstract: type="main" xml:lang="en">

We use state-space methods to construct new estimates of Australian gross domestic product 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 domestic product. We conclude that much of the quarter-to-quarter volatility in Australian domestic product growth reflects measurement error, rather than true shifts in the level of economic activity.

Date: 2015
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