The Australian Real?Time Datbase: An Overview and an Illustration of its Use in Business Cycle Analysis

Kevin Lee, Nilss Olekalns, Kalvinder Shields and Zheng Wang
Authors registered in the RePEc Author Service: Kevin Lee () and Kalvinder Shields

No 1132, Department of Economics - Working Papers Series from The University of Melbourne

Abstract: This paper describes a newly constructed macroeconomic database for Australia including measures of GDP, its components, prices, and key monetary and labour market statistics over the last fifty years as published and revised in real time. Data vintages are collated from various sources and accommodate multiple definitional changes, providing a comprehensive description of the macroeconomic environment actually experienced by Australian policy- and decision-makers. The database exposes the difficulties in drawing inferences and decision-making based on macroeconomic data that is subsequently revised. Methods are described that can exploit the real-time dataset and they are illustrated through an analysis of the Australian output gap.

Keywords: Real-time; Australian Database; Revisions; Business Cycles; Output Gap; Density Forecast (search for similar items in EconPapers)
JEL-codes: C32 D84 E32 (search for similar items in EconPapers)
Pages: 42 pages
Date: 2011
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Citations: View citations in EconPapers (2)

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Related works:
Journal Article: Australian Real-Time Database: An Overview and an Illustration of its Use in Business Cycle Analysis (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:mlb:wpaper:1132

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