A State-space Approach to Australian GDP Measurement

Daniel Rees, David Lancaster and Richard Finlay
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David Lancaster: Reserve Bank of Australia

RBA Research Discussion Papers from Reserve Bank of Australia

Abstract: 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.

Keywords: national income and product account; business cycle (search for similar items in EconPapers)
JEL-codes: E01 E32 (search for similar items in EconPapers)
Date: 2014-10
New Economics Papers: this item is included in nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:rba:rbardp:rdp2014-12

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