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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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Economic Growth | Explainer | Education

4 May 2023
This series provides short, concise explanations for various economics topics.

A State-space Approach to Australian GDP Measurement

28 Oct 2014 RDP 2014-12
Daniel Rees, David Lancaster and Richard Finlay
Research Discussion Paper – RDP 2014-12 A State-space Approach to Australian GDP Measurement Abstract. ... Across a range of specifications, our measures are substantially less volatile than headline GDP growth.
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Appendix F: GDP Growth Statistics

9 Nov 2009 RDP 2009-06
Jamie Hall and Jarkko Jääskelä
RDP 2009-06: Inflation Volatility and Forecast Accuracy Appendix F: GDP Growth Statistics. ... GDP growth. (a). Australia. 3.32. 2.87. 3.73. Austria. –. –. 2.26.
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GDP-linked Bonds

15 Sep 2016 Bulletin – September 2016
Joel Bowman and Philip Naylor
A GDP-linked bond is a debt security with repayments that are linked to the issuing country's GDP. These securities have recently attracted some attention, including within the Group of Twenty (G20), in the context of discussions about possible ways

The Cyclical Component of GDP

18 Dec 2008 RDP 2008-08
Philip Liu
Download the Paper 373. KB. The first step of the analysis in this paper is to obtain a measure of the cyclical component of GDP. ... The cyclical component is defined as the difference between the actual and the permanent component of GDP.
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GDP Revisions: Measurement and Implications

22 Mar 2013 Bulletin – March 2013
James Bishop, Troy Gill and David Lancaster
Gauging economic conditions in real time is challenging, in part because economic data are difficult to measure and subject to subsequent revision as more information becomes available. This article investigates the pattern and size of revisions to


9 Jun 2023
A glossary of terms used on the RBA website

Appendix C: Revisions to GDP and Recession Dating

31 Dec 2005 RDP 2005-07
Christian Gillitzer, Jonathan Kearns and Anthony Richards
Looking down the figure shows the dates of recessions for a given GDP vintage. ... In part, this appears to be the result of larger revisions to GDP in the 1970s.
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Appendix A: Revisions to Expenditure-based GDP Estimates

31 Dec 2002 RDP 2002-05
Andrew Stone and Sharon Wardrop
Figure A3: Errors in the Contemporaneous Measure of GDP(E). Quarterly growth rates. ... Figure A4: Errors in the Contemporaneous Measure of GDP(E). Four-quarter-ended growth rates.
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The Sensitivity of Personal Income to GDP Growth

15 Dec 2016 Bulletin – December 2016
Tahlee Stone
This article examines how the income of different individuals varies in response to changes in the state of the economy using individual-level data from the Household, Income and Labour Dynamics in Australia (HILDA) Survey. More specifically, the