Appendix B: Data Description and Sources | RDP 2010-02: Learning in an Estimated Small Open Economy Model

RDP 2010-02: Learning in an Estimated Small Open Economy Model Appendix B: Data Description and Sources

Jarkko Jääskelä and Rebecca McKibbin

March 2010

Inflation : trimmed mean consumer price index excluding taxes and interest (RBA).

Consumption (c_t): real seasonally adjusted household final consumption expenditure (ABS Cat No 5206.0).

Real exchange rate (Δq_t): the change in real trade-weighted exchange rate (RBA).

Nominal interest rate (r_t): overnight cash rate, averaged over the quarter (RBA).

Output (y_t): real seasonally adjusted non-farm GDP (ABS Cat No 5206.0).

World Output : G7 trade-weighted real GDP (RBA).

World inflation : G7 trade-weighted headline CPI inflation (RBA).

World interest rate : average of euro area, US and Japanese short-term nominal interest rates (RBA).