RDP 9205: Measuring the Cost of Capital in Australia Appendix 2: Data Series

Sources:

GDP Deflator: Reserve Bank of Australia Occasional Paper 8. Table 5.6b and Australian Bureau of Statistics Cat No. 5206.0

Expected Inflation: Institute of Applied Economic and Social Research. December survey.

Nominal GDP: Reserve Bank of Australia Occasional Paper 8. Table 5.2b and Australian Bureau of Statistics Cat No. 5206.0

Accumulation Index: Reserve Bank of Australia Occasional Paper 8. Table 3.18 and Australian Stock Exchange

Earnings Yield: Melbourne Stock Exchange 50 Leaders and Australian Stock Exchange All Ordinaries

Company tax rate: Reserve Bank of Australia Occasional Paper 8. Table 2.23

Overdraft rate: Reserve Bank of Australia Occasional Paper 8. Table 3.21a and Reserve Bank Bulletin

10 year bond rate: Reserve Bank of Australia Occasional Paper 8. Table 3.23 and Reserve Bank Bulletin

Weights for Cost of Funds: ‘Liabilities of the Private Non-Finance Sector’ in Reserve Bank Bulletin December 1988; various Financial Flow Accounts Supplements, and Dews (1988) Appendix III.

DATA SERIES
  GDP Deflator yr
on yr
% change
Expected Inflation
 
Nominal
GDP yr on yr
% change
Accumulation
Index (All Ords)
end yr
Earnings
Yield
(aver)
Company Tax
Statutory
Rate
Overdraft
rate
(aver)
10 yr bond
rate
(aver)
1962/63 1.6   8.0 202 6.1 40.0 6.0 4.6
1963/64 3.7   11.1 245 6.0 40.0 6.1 4.5
1964/65 2.6   10.0 217 6.9 42.5 6.4 4.9
1965/66 2.5   5.1 234 8.2 42.5 6.6 5.2
1966/67 3.4   10.3 267 8.4 42.5 6.7 5.1
1967/68 2.4   6.9 465 7.6 42.5 6.7 5.1
1968/69 4.6   12.7 456 6.8 45.0 6.9 5.2
1969/70 4.0   10.8 451 8.0 45.0 7.3 6.1
1970/71 5.1   10.4 422 9.4 47.5 7.7 6.9
1971/72 7.7   11.9 547 8.5 47.5 7.6 6.2
1972/73 9.0   14.0 522 6.9 47.5 7.4 5.9
1973/74 14.4 11.2 19.7 395 9.0 47.5 8.9 8.2
1974/75 19.2 14.3 20.7 391 14.9 45.0 10.8 9.5
1975/76 15.4 13.7 18.1 519 10.5 42.5 11.1 10.0
1976/77 11.1 14.5 14.2 534 11.0 42.5 11.0 10.2
1977/78 7.7 10.7 8.7 614 12.2 46.0 11.0 9.6
1978/79 8.4 10.8 13.9 754 11.9 46.0 10.8 9.2
1979/80 10.9 14.4 13.5 1,250 12.5 46.0 11.0 10.7
1980/81 10.2 12.7 14.0 1,507 11.4 46.0 12.5 12.6
1981/82 10.5 13.2 12.0 1,070 11.9 46.0 14.7 15.2
1982/83 10.3 12.8 8.9 1,419 12.5 46.0 15.4 14.4
1983/84 7.0 11.8 13.0 1,623 8.6 46.0 14.7 13.8
1984/85 5.6 9.8 11.3 2,190 10.0 46.0 15.4 13.4
1985/86 6.8 12.1 11.0 3,223 9.0 46.0 16.9 13.7
1986/87 7.4 13.5 10.0 4,878 7.0 46.0 17.1 13.5
1987/88 8.0 11.6 13.2 4,507 7.4 49.0 16.5 12.5
1988/89 9.4 11.5 14.1 4,589 9.2 49.0 17.9 12.8
1989/90 5.7 12.0 8.9 4,784 8.2 39.0 19.1 13.3
1990/91 3.1 8.3 1.7 5,066 8.0 39.0 16.3 12.1