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A State-Space Approach to Australian Gross Domestic Product Measurement

Author

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  • Daniel M. Rees
  • David Lancaster
  • Richard Finlay

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.

Suggested Citation

  • Daniel M. Rees & David Lancaster & Richard Finlay, 2015. "A State-Space Approach to Australian Gross Domestic Product Measurement," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 48(2), pages 133-149, June.
    • Handle: RePEc:bla:ausecr:v:48:y:2015:i:2:p:133-149
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    Cited by:

    1. Jan P. A. M. Jacobs & Samad Sarferaz & Jan-Egbert Sturm & Simon van Norden, 2022. "Can GDP Measurement Be Further Improved? Data Revision and Reconciliation," Journal of Business & Economic Statistics, Taylor & Francis Journals, vol. 40(1), pages 423-431, January.
    2. Kleyton da Costa & Felipe Leite Coelho da Silva & Josiane da Silva Cordeiro Coelho & Andr'e de Melo Modenesi, 2020. "A Systematic Comparison of Forecasting for Gross Domestic Product in an Emergent Economy," Papers 2010.13259, arXiv.org, revised Mar 2022.

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