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RBA Glossary definition for GDP

GDP – Gross Domestic Product. A key measure of the value of economic production in the economy. GDP is determined in one of three ways: the value of goods and services produced less the cost of production; the sum of incomes generated by production; the sum of final expenditure on goods and services produced plus exports minus imports. An average of the three approaches may be calculated and is also referred to as GDP.

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Introduction

31 Dec 2001 RDP 2001-05
Glenn Otto, Graham Voss and Luke Willard
For a particular sample, we calculate the bilateral correlations of four-quarter-ended real GDP growth. ... The strong correlation between GDP growth in Australia and the US has already been noted.
https://www.rba.gov.au/publications/rdp/2001/2001-05/introduction.html

Appendix B: Data

31 Dec 2001 RDP 2001-05
Glenn Otto, Graham Voss and Luke Willard
We use quarterly real GDP data to construct four-quarter-ended growth rates (constructed as log fourth differences). ... it. is nominal GDP for country i in period t. All series are measured in USD.
https://www.rba.gov.au/publications/rdp/2001/2001-05/appendix-b.html

Framework

31 Dec 2001 RDP 2001-05
Glenn Otto, Graham Voss and Luke Willard
There are N countries in the sample. For country i, the four-quarter-ended growth rate of GDP over the sample period τ is denoted. ... One approach to resolve this problem is to specify a simultaneous equation structural model that explains both the
https://www.rba.gov.au/publications/rdp/2001/2001-05/framework.html

Appendix A: The Transformation of the Dependent Variable

31 Dec 2001 RDP 2001-05
Glenn Otto, Graham Voss and Luke Willard
Download the Paper 227. KB. The dependent variable, the sample correlation of GDP growth, must lie between 1 and 1.
https://www.rba.gov.au/publications/rdp/2001/2001-05/appendix-a.html

Empirical Results

31 Dec 2001 RDP 2001-05
Glenn Otto, Graham Voss and Luke Willard
The dependent variable is a transformation of the bilateral GDP growth correlations calculated over 1980–2000. ... Table 4: Industry Structure and Transmission Channels. Dependent variable: bilateral GDP growth correlations 1980–2000.
https://www.rba.gov.au/publications/rdp/2001/2001-05/empirical-results.html