RDP 8803: Do Financial Aggregates Lead Activity?: A Preliminary Analysis Appendix A: Data Definitions and Sources
January 1988
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| GDPNF | – |
gross domestic non-farm product, seasonally adjusted. “Nominal” series
in current prices; “real” series in 1979–80 average prices. Source: Australian Bureau of Statistics (ABS) Quarterly Estimates of National Income and Expenditure, June 1987. |
| PFE | – |
private final expenditure, seasonally adjusted. “Nominal” series in
current prices, “real” series in 1979–80 average prices. Source: ABS Quarterly Estimates of National Income and Expenditure, June 1987. |
| P | – |
implicit price deflators for GDPNF and PFE. Source: ABS Quarterly Estimates of National Income and Expenditure, June 1987. |
| R | – |
yield on 90-day bank-accepted bills: average of daily market yields reported to RBA
for week ended last Wednesday of the month, end-month of quarter. Source: Reserve Bank of Australia (RBA) Bulletin Database. |
| M3* | – |
M3, end-month of quarter. Source: RBA Bulletin Database. |
| NBFI* | – |
borrowings from the non-finance private sector by non-bank financial institutions,
end-month of quarter. Source: RBA Bulletin Database. |
| BM* | – |
broad money, end-month of quarter. Source: RBA Bulletin Database. |
| AFIL* | – |
loans, advances and bills discounted to the non-finance private sector by all
financial intermediaries, end-month of quarter. Source: RBA Bulletin Database. |
| AFIC* | – |
bank bills outstanding plus loans and advances to the non-finance private sector by
financial intermediaries whose liabilities are included in broad money, end-month of
quarter. Source: RBA Bulletin Database. |
*Note: Growth rates in all financial aggregates are adjusted for transfers from NBFIs to new banks, the introduction of cash management trusts and the exclusion of double counting from NBFI borrowings and lending series, where appropriate. Twelve-months-ended growth rates series are not seasonally adjusted. Quarterly log-change series were seasonally adjusted using the SAS Xll procedure. |
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Twelve months-ended growth rate series run from 1977(3) to 1987(2).
Quarterly log-change series run from 1976(4) to 1987(2).