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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 B: Data Descriptions, Sources and Summary Figures

31 Dec 2005 RDP 2005-08
Christopher Kent, Kylie Smith and James Holloway
Download the Paper838. KB. Real GDP non-seasonally adjusted, from Datastream (originally from national statistical offices). ... Cyclically-adjusted government primary balance as a percentage to GDP. Sourced from EO.
https://www.rba.gov.au/publications/rdp/2005/2005-08/appendix-b.html

Explanations for Declining Output Volatility

31 Dec 2005 RDP 2005-08
Christopher Kent, Kylie Smith and James Holloway
f) The value of total trade as a per cent to GDP; 5-year average. ... and indeed for some countries, GDP less the change in inventories is actually more volatile than GDP itself (Table 1).
https://www.rba.gov.au/publications/rdp/2005/2005-08/explanations-declining-volatility.html

Results

31 Dec 2005 RDP 2005-08
Christopher Kent, Kylie Smith and James Holloway
Though statistically insignificant, the point estimate for financial liberalisation implies that the average rise in the ratio of credit to GDP (of 42 percentage points) was associated with a rise in ... Table 6: Panel Regression Results for GDP
https://www.rba.gov.au/publications/rdp/2005/2005-08/results.html

Conclusions

31 Dec 2005 RDP 2005-08
Christopher Kent, Kylie Smith and James Holloway
Other indirect measures of market reforms, such as trade openness and credit to GDP, are generally not statistically significant explanators of output volatility.
https://www.rba.gov.au/publications/rdp/2005/2005-08/conclusions.html

Introduction

31 Dec 2005 RDP 2005-08
Christopher Kent, Kylie Smith and James Holloway
the standard deviation of the annual growth rate of GDP has fallen by more than 1 percentage point since the 1970s. ... One approach examines changes in the make-up and behaviour of various components of GDP for a given country.
https://www.rba.gov.au/publications/rdp/2005/2005-08/introduction.html

Methodology and Data

31 Dec 2005 RDP 2005-08
Christopher Kent, Kylie Smith and James Holloway
Financial liberalisation. Trade openness. GDP volatility. 1.00. Product market regulations. 0.25. ... where:. is the standard deviation of annual growth of real GDP for country i; X.
https://www.rba.gov.au/publications/rdp/2005/2005-08/methodology-and-data.html

References

31 Dec 2005 RDP 2005-08
Christopher Kent, Kylie Smith and James Holloway
McConnell MM, PC Mosser and G Perez-Quiros (1999), ‘A decomposition of the increased stability of GDP growth’, Federal Reserve Bank of New York.
https://www.rba.gov.au/publications/rdp/2005/2005-08/references.html