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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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Appendix A: Model Specifications

20 Sep 2022 RDP 2022-03
Nicholas Garvin, Samuel Kurian, Mike Major and David Norman
The model updates default rates based on changes in year-ended GDP growth. (. ... G. D. P. Y. E. ,. t. ). which are constructed from quarterly GDP growth.
https://www.rba.gov.au/publications/rdp/2022/2022-03/appendix-a.html

Macrofinancial Stress Testing on Australian Banks

20 Sep 2022 RDP 2022-03
Nicholas Garvin, Samuel Kurian, Mike Major and David Norman
Figure 5: Change in Business PD Estimates. Note: (a) Year-ended GDP growth. ... Figure 7: Cumulative Loss Rate. By GDP growth shocks and property price falls.
https://www.rba.gov.au/publications/rdp/2022/2022-03/full.html

Credit Loss Modelling

20 Sep 2022 RDP 2022-03
Nicholas Garvin, Samuel Kurian, Mike Major and David Norman
Figure 5: Change in Business PD Estimates. Note: (a) Year-ended GDP growth. ... Figure 7: Cumulative Loss Rate. By GDP growth shocks and property price falls.
https://www.rba.gov.au/publications/rdp/2022/2022-03/credit-loss-modelling.html

Model Framework

20 Sep 2022 RDP 2022-03
Nicholas Garvin, Samuel Kurian, Mike Major and David Norman
Figure 1: Overview of the Stress Testing Model. Macroeconomic conditions in the model are summarised by four variables: GDP growth, the unemployment rate, housing prices and commercial property prices. ... Footnotes. Our calibration results in wholesale
https://www.rba.gov.au/publications/rdp/2022/2022-03/model-framework.html

Contagion Modelling and Feedback Loops

20 Sep 2022 RDP 2022-03
Nicholas Garvin, Samuel Kurian, Mike Major and David Norman
how much weaker GDP growth would be in response to various contractions in credit outstanding caused by banks restricting supply. ... We then use the relationship between GDP and the cash rate in the RBA's MARTIN model (Ballantyne et al 2019) to
https://www.rba.gov.au/publications/rdp/2022/2022-03/contagion-modelling-and-feedback-loops.html

How the Model Was Used during COVID-19

20 Sep 2022 RDP 2022-03
Nicholas Garvin, Samuel Kurian, Mike Major and David Norman
This scenario involved a more than 10 per cent fall in GDP and the unemployment rate rising to above 10 per cent. ... GDP (around 5 per cent per quarter) would be required for banks to breach their prudential minimum requirements.
https://www.rba.gov.au/publications/rdp/2022/2022-03/how-the-model-was-used-during-covid-19.html

Introduction

20 Sep 2022 RDP 2022-03
Nicholas Garvin, Samuel Kurian, Mike Major and David Norman
of annual GDP.
https://www.rba.gov.au/publications/rdp/2022/2022-03/introduction.html

Non-technical summary for ‘The Rise in Household Liquidity’

20 Sep 2022 RDP 2022-03
Nicholas Garvin, Samuel Kurian, Mike Major and David Norman
The heart of the stress testing model involves mapping a scenario for GDP, the unemployment rate and property prices to changes in banks' capital ratios.
https://www.rba.gov.au/publications/rdp/2022/2022-03/non-technical-summary.html