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Realisation Ratios in the Capital Expenditure Survey

Author

Listed:
  • Leon Berkelmans

    (Reserve Bank of Australia)

  • Gareth Spence

    (Reserve Bank of Australia)

Abstract

The Australian Bureau of Statistics capital expenditure survey is one of the inputs into the Reserve Bank’s forecasts for private business investment. This article considers several methods for interpreting the expectations data from this survey and evaluates these methods using out-of-sample forecasts. Forecasts based on long-run average realisation ratios are found to be the most accurate of the options considered, although the use of these forecasts for predicting investment in the national accounts yields mixed results.

Suggested Citation

  • Leon Berkelmans & Gareth Spence, 2013. "Realisation Ratios in the Capital Expenditure Survey," RBA Bulletin (Print copy discontinued), Reserve Bank of Australia, pages 1-6, December.
    • Handle: RePEc:rba:rbabul:dec2013-01
    as

    Download full text from publisher

    File URL: https://www.rba.gov.au/publications/bulletin/2013/dec/pdf/bu-1213-1.pdf
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    References listed on IDEAS

    as
    1. Natasha Cassidy & Emma Doherty & Troy Gill, 2012. "Forecasting Business Investment Using the Capital Expenditure Survey," RBA Bulletin (Print copy discontinued), Reserve Bank of Australia, pages 1-10, September.
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    Cited by:

    1. Kenneth W. Clements & Jiawei Si & Thomas Simpson, 2016. "Understanding New Resource Projects," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 62(3), pages 584-600, September.
    2. Tim Robinson & Viet H. Nguyen & Jiao Wang, 2017. "The Australian Economy in 2016–17: Looking Beyond the Apartment Construction Boom," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 50(1), pages 5-20, March.
    3. Gulnara Nolan & Jonathan Hambur & Philip Vermeulen, 2023. "Does Monetary Policy Affect Non-mining Business Investment in Australia? Evidence from BLADE," RBA Research Discussion Papers rdp2023-09, Reserve Bank of Australia.
    4. Tim Robinson & Jiao Wang, 2018. "The Australian Economy in 2017–2018: The Importance of Stronger Non†Mining Business Investment Growth," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 51(1), pages 5-20, March.

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    1. Gulnara Nolan & Jonathan Hambur & Philip Vermeulen, 2023. "Does Monetary Policy Affect Non-mining Business Investment in Australia? Evidence from BLADE," RBA Research Discussion Papers rdp2023-09, Reserve Bank of Australia.

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