RDP 9607: Towards an Understanding of Australia's Co-Movement with Foreign Business Cycles Appendix D: Data Sources and Description

Nicolas de Roos and Bill Russell

November 1996

Australian Data

Data Source
GDP (Average) ABS Cat. No. 5206, Table 48.
Exports of goods and services ABS Cat. No. 5206, Table 52.
Terms of trade (goods and services) ABS Cat. No. 5302, Table 9.
Real exchange rate RBA 22 country real export weighted exchange rate.
Export shares ABS Cat. No. 5410, Table 5. Prior to 1992/93, ABS Cat. No. 5424 used. Historical data taken from ABS Annual Yearbooks and ABS Overseas Trade publications.
GDP(E) implicit deflator ABS Cat. No. 5206, Table 19.
Underlying Consumer Price Index Treasury.
Real cash rate Official cash rate (RBA Bulletin, Table F1) less four-quarter-ended percentage change in the Treasury underlying CPI.
Southern Oscillation Index Bureau of Meteorology. Measures the sea level barometric pressure differential between Darwin and Tahiti.
Total private gross fixed capital expenditure ABS Cat. No. 5206, Table 52.
Private gross fixed capital expenditure, equipment ABS Cat. No. 5206, Table 52.
 
Private gross fixed capital expenditure, non-dwelling construction ABS Cat. No. 5206, Table 52.
 
Private new capital expenditure, equipment – mining Nominal values from ABS Cat. No. 5625, Table 3; deflators from ABS special data service.
Private new capital expenditure, equipment – manufacturing Nominal values from ABS Cat. No. 5625, Table 3; deflators from ABS special data service.
Private consumption ABS Cat. No. 5206, Table 52.
Real household disposable income Household disposable income (ABS Cat. No. 5206, Table 28) deflated by the private consumption deflator (ABS Cat. No. 5206, Table 19).
Real share price Accumulation index for total share market returns, incorporating dividend yields (Datastream, TOTMKAU(RI)) deflated by the GDP(E) deflator.

Foreign Data

Data Source
Real Output
US GDP Datastream, USGDP…D.
Japan Datastream, JPGDP…D.
OECD GDP Datastream, OCDGDP…D.
Export-markets GDP An export weighted average of quarterly percentage changes in the GDP of Australia's major trading partners is used to form a GDP index.
New Zealand GDP Datastream, NZGDP…D.
South Korea GDP Datastream, KOGDP…C, seasonally adjusted using EZ X-11.
UK GDP Datastream, UKOCGDPDD.
Singapore GDP Datastream, SP10073.D.
Taiwan GDP Datastream, TWGDP…C, seasonally adjusted using EZ X-11.
Hong Kong GDP Datastream, HKGDP…C, seasonally adjusted using EZ X-11.
European community GDP Datastream, EECGDP..D.
Newly industrialised economies GDP The sum of the GDP of Hong Kong, Singapore, South Korea and Taiwan, in 1985 exchange rates and US dollars.
Nominal Share Prices
US share price Datastream, TOTMKUS(RI).
Japan share price Datastream, TOTMKJP(RI).
World share price Datastream, TOTMKWD(RI).
Export-markets share price An export weighted average of accumulation indices for Australia's major trading partners. Accumulation indices obtained from Datastream.
Europe share price Datastream, TOTMKER(RI).
Real Share Prices Accumulation index for total share market returns, incorporating dividend yields, deflated by the GDP deflator. The G7 GDP deflator is used to deflate world share prices.
Deflators Used for Share Prices
US GNP deflator Datastream, USIPDGNPE.
Japan GDP deflator Datastream, JPIPDGDPE.
G7 GDP deflator GDP weighted implicit deflator for the G7 based on 1992 prices and exchange rates. GDP deflators obtained from Datastream.
Investment
US gross private domestic investment Datastream, USGDPRIND.
US nonresidential private fixed investment – producers' durable equipment Datastream, USINVPDED.
 
Consumption
US personal consumption expenditures Datastream, USCONEXPD.
Household Disposable Income
US personal disposable income Datastream, USPDISPID.