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RBA Glossary definition for G7

G7 – Group of Seven countries: Canada, France, Germany, Italy, Japan, UK and the USA. The G7 deals with issues of primary interest to developed economies.

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31 Dec 2012 RDP 2012-01
Hugo Gerard
These results again highlight the significant cross-country co-movement between inflation rates in the G7. ... In contrast, co-movement in real activity is not significant in driving fluctuations in inflation across G7 countries.
https://www.rba.gov.au/publications/rdp/2012/2012-01/results.html

Co-movement in Inflation

4 Apr 2012 RDP 2012-01
Hugo Gerard
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/2012/2012-01.html

A Panel VAR

31 Dec 2012 RDP 2012-01
Hugo Gerard
First, the G7 represents a reasonably homogenous group of economies, in that they are advanced economies with well-developed financial sectors and institutions, and broadly similar policy frameworks. ... The next section presents the model estimates and
https://www.rba.gov.au/publications/rdp/2012/2012-01/panel.html

Appendix C: Data Sources

31 Dec 2012 RDP 2012-01
Hugo Gerard
Consumer price indices for individual G7 economies. OECD.Stat (database); Thomson Reuters; quarterly index constructed as the average of the monthly index for the relevant quarter. ... As above. Real GDP, real private consumption and real fixed private
https://www.rba.gov.au/publications/rdp/2012/2012-01/appendix-c.html

Introduction

31 Dec 2012 RDP 2012-01
Hugo Gerard
Neither of these potentially important drivers of global inflation, however, can fully explain the observed co-movement in inflation in the G7 data. ... Given the role for global inflation in explaining G7 countries' inflation, we then turn to examine
https://www.rba.gov.au/publications/rdp/2012/2012-01/introduction.html

Conclusion

31 Dec 2012 RDP 2012-01
Hugo Gerard
However, there is still statistical evidence of co-movement in G7 inflation rates even after controlling for the possible influence of commodity prices and global activity. ... Given the role of the common inflation indicator in explaining inflation in
https://www.rba.gov.au/publications/rdp/2012/2012-01/conclusion.html

Implications for Modelling Inflation in Australia

31 Dec 2012 RDP 2012-01
Hugo Gerard
0.018. 0.013. 0.007. 0.010. G7 inflation (t). 0.562. 0.192. G7 inflation (t1). ... 0.008. G7 inflation (t). 0.534. 0.174. G7 inflation (t1). 0.155. 0.038.
https://www.rba.gov.au/publications/rdp/2012/2012-01/implications-modelling-inflation-australia.html