RDP 9205: Measuring the Cost of Capital in Australia Appendix 2: Data Series
June 1992
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Sources:
GDP Deflator: Reserve Bank of Australia Occasional Paper 8. Table 5.6b and Australian Bureau of Statistics Cat No. 5206.0
Expected Inflation: Institute of Applied Economic and Social Research. December survey.
Nominal GDP: Reserve Bank of Australia Occasional Paper 8. Table 5.2b and Australian Bureau of Statistics Cat No. 5206.0
Accumulation Index: Reserve Bank of Australia Occasional Paper 8. Table 3.18 and Australian Stock Exchange
Earnings Yield: Melbourne Stock Exchange 50 Leaders and Australian Stock Exchange All Ordinaries
Company tax rate: Reserve Bank of Australia Occasional Paper 8. Table 2.23
Overdraft rate: Reserve Bank of Australia Occasional Paper 8. Table 3.21a and Reserve Bank Bulletin
10 year bond rate: Reserve Bank of Australia Occasional Paper 8. Table 3.23 and Reserve Bank Bulletin
Weights for Cost of Funds: ‘Liabilities of the Private Non-Finance Sector’ in Reserve Bank Bulletin December 1988; various Financial Flow Accounts Supplements, and Dews (1988) Appendix III.
| GDP Deflator yr on yr % change |
Expected Inflation |
Nominal GDP yr on yr % change |
Accumulation Index (All Ords) end yr |
Earnings Yield (aver) |
Company Tax Statutory Rate |
Overdraft rate (aver) |
10 yr bond rate (aver) |
|
|---|---|---|---|---|---|---|---|---|
| 1962/63 | 1.6 | 8.0 | 202 | 6.1 | 40.0 | 6.0 | 4.6 | |
| 1963/64 | 3.7 | 11.1 | 245 | 6.0 | 40.0 | 6.1 | 4.5 | |
| 1964/65 | 2.6 | 10.0 | 217 | 6.9 | 42.5 | 6.4 | 4.9 | |
| 1965/66 | 2.5 | 5.1 | 234 | 8.2 | 42.5 | 6.6 | 5.2 | |
| 1966/67 | 3.4 | 10.3 | 267 | 8.4 | 42.5 | 6.7 | 5.1 | |
| 1967/68 | 2.4 | 6.9 | 465 | 7.6 | 42.5 | 6.7 | 5.1 | |
| 1968/69 | 4.6 | 12.7 | 456 | 6.8 | 45.0 | 6.9 | 5.2 | |
| 1969/70 | 4.0 | 10.8 | 451 | 8.0 | 45.0 | 7.3 | 6.1 | |
| 1970/71 | 5.1 | 10.4 | 422 | 9.4 | 47.5 | 7.7 | 6.9 | |
| 1971/72 | 7.7 | 11.9 | 547 | 8.5 | 47.5 | 7.6 | 6.2 | |
| 1972/73 | 9.0 | 14.0 | 522 | 6.9 | 47.5 | 7.4 | 5.9 | |
| 1973/74 | 14.4 | 11.2 | 19.7 | 395 | 9.0 | 47.5 | 8.9 | 8.2 |
| 1974/75 | 19.2 | 14.3 | 20.7 | 391 | 14.9 | 45.0 | 10.8 | 9.5 |
| 1975/76 | 15.4 | 13.7 | 18.1 | 519 | 10.5 | 42.5 | 11.1 | 10.0 |
| 1976/77 | 11.1 | 14.5 | 14.2 | 534 | 11.0 | 42.5 | 11.0 | 10.2 |
| 1977/78 | 7.7 | 10.7 | 8.7 | 614 | 12.2 | 46.0 | 11.0 | 9.6 |
| 1978/79 | 8.4 | 10.8 | 13.9 | 754 | 11.9 | 46.0 | 10.8 | 9.2 |
| 1979/80 | 10.9 | 14.4 | 13.5 | 1,250 | 12.5 | 46.0 | 11.0 | 10.7 |
| 1980/81 | 10.2 | 12.7 | 14.0 | 1,507 | 11.4 | 46.0 | 12.5 | 12.6 |
| 1981/82 | 10.5 | 13.2 | 12.0 | 1,070 | 11.9 | 46.0 | 14.7 | 15.2 |
| 1982/83 | 10.3 | 12.8 | 8.9 | 1,419 | 12.5 | 46.0 | 15.4 | 14.4 |
| 1983/84 | 7.0 | 11.8 | 13.0 | 1,623 | 8.6 | 46.0 | 14.7 | 13.8 |
| 1984/85 | 5.6 | 9.8 | 11.3 | 2,190 | 10.0 | 46.0 | 15.4 | 13.4 |
| 1985/86 | 6.8 | 12.1 | 11.0 | 3,223 | 9.0 | 46.0 | 16.9 | 13.7 |
| 1986/87 | 7.4 | 13.5 | 10.0 | 4,878 | 7.0 | 46.0 | 17.1 | 13.5 |
| 1987/88 | 8.0 | 11.6 | 13.2 | 4,507 | 7.4 | 49.0 | 16.5 | 12.5 |
| 1988/89 | 9.4 | 11.5 | 14.1 | 4,589 | 9.2 | 49.0 | 17.9 | 12.8 |
| 1989/90 | 5.7 | 12.0 | 8.9 | 4,784 | 8.2 | 39.0 | 19.1 | 13.3 |
| 1990/91 | 3.1 | 8.3 | 1.7 | 5,066 | 8.0 | 39.0 | 16.3 | 12.1 |