RDP 2002-01: Inflation Targeting and the Inflation Process: Some Lessons from an Open Economy
Appendix B: Data
Guy Debelle and Jenny Wilkinson
January 2002
The data sources for the simulations in Section 3 are described in
Beechey et al (2000). The data sources for Section 4 are described below.
Australia
| Inflation |
| Definition: |
Median inflation index excluding mortgage interest charges and consumer credit
charges.
|
| Source: |
Calculated by the Reserve Bank of Australia from data in Consumer Price
Index, ABS Cat No 6401.0 |
| Output gap |
| Definition: |
See Beechey et al (2000). |
| Source: |
Beechey et al (2000) |
| Import prices |
| Definition: |
Implicit price deflator for imports, excluding fuels and lubricants, civil aircraft
and Reserve Bank of Australia imports of gold. Tariff adjusted.
|
| Sources: |
National Income, Expenditure and Product, ABS Cat No 5206.0, Australian
Customs Service
|
New Zealand
| Inflation |
| Definition: |
Implicit price deflator for private final consumption, adjusted for indirect tax
changes in 1986:Q4 and 1989:Q3.
|
| Source: |
New Zealand Department of Statistics, Datastream codes NZCONEXPA and NZCONEXPC |
| Output gap |
| Definition: |
Deviation of GDP from HP filtered series (λ=1600), mean-adjusted
assuming a sacrifice ratio of 3 per cent.
|
| Source: |
New Zealand Department of Statistics, Datastream code NZGD….D |
| Import prices |
| Definition: |
Import price index. |
| Source: |
New Zealand Department of Statistics, Datastream code NZIMPPRCF |
United Kingdom
| Inflation |
| Definition: |
Retail price index excluding mortgage interest (RPI-X), seasonally adjusted,
adjusted for the change in the VAT in 1991:Q2.
|
| Source: |
United Kingdom Office for National Statistics, Datastream code UKRPAXMIF |
| Output gap |
| Definition: |
Deviation of GDP from HP filtered series (λ=1600), mean-adjusted
assuming a sacrifice ratio of 3 per cent.
|
| Source: |
United Kingdom Office for National Statistics, Datastream code UKABMI.. |
| Import prices |
| Definition: |
Import price index. |
| Source: |
United Kingdom Office for National Statistics, Datastream code UKBQKS.. |
Canada
| Inflation |
| Definition: |
Chain linked price index of personal consumption expenditures, seasonally adjusted,
adjusted for the introduction of the GST in 1991:Q1.
|
| Source: |
Statistics Canada, Datastream code CN15614. |
| Output gap |
| Definition: |
Deviation of GDP from HP filtered series (λ=1600), mean-adjusted
assuming a sacrifice ratio of 3 per cent.
|
| Source: |
Statistics Canada, Datastream code CNGDP…D |
| Import prices |
| Definition: |
Import price index, seasonally adjusted. |
| Source: |
Statistics Canada, Datastream code CNB1226. |
United States
| Inflation |
| Definition: |
Index of personal consumption expenditures, seasonally adjusted. |
| Source: |
United States Bureau of Economic Analysis, Datastream code USCE..CE |
| Output gap |
| Definition: |
Deviation of GDP from HP filtered series (λ=1600), mean-adjusted
assuming a sacrifice ratio of 3 per cent.
|
| Source: |
United States Bureau of Economic Analysis, Datastream code USGDP…D |
| Import prices |
| Definition: |
Chain type price index for imports, seasonally adjusted. |
| Source: |
United States Bureau of Economic Analysis, Datastream code USIMN..CE |
