RDP 2013-09: Terms of Trade Shocks and Incomplete Information Appendix A: Data Sources and Definitions

The dataset spans the quarters 1973:Q1 to 2012:Q2. The start date is chosen because quarterly estimates of the Australian population, published by the Australian Bureau of Statistics (ABS), are not available before that date.

Consumption

Final consumption expenditure, expressed in chain volume terms and seasonally adjusted divided by population (‘Australian National Accounts: National Income, Expenditure and Product’, ABS Cat No 5206.0)

Gross domestic product

Real gross domestic product, expressed in chain volume terms and seasonally adjusted divided by population (ABS Cat No 5206.0)

Investment

Gross fixed capital formation, expressed in chain volume terms and seasonally adjusted divided by population (ABS Cat No 5206.0)

Population

Total resident population (‘Australian Demographic Statistics’, ABS Cat No 3101.0)

Net exports

Ratio of nominal net exports to nominal gross domestic product (ABS Cat No 5206.0)

Terms of trade

Australia: terms of trade index, seasonally adjusted (ABS Cat No 5206.0)

For the other economies in Figure 1, with the exception of Canada, terms of trade data was sourced from national statistical agencies. I retrieved data for Canada from the OECD. For Brazil, New Zealand and South Africa, published terms of trade indices were used. For Canada, I constructed a terms of trade index by dividing the exports of goods and services deflator by the imports of goods and services deflator. For Mexico, the terms of trade index was constructed by dividing the export price index by the import price index. The raw data for Canada, New Zealand and South Africa were quarterly. For Brazil and Mexico, I constructed a quarterly series using quarterly averages of monthly data. Sources for the individual countries are:

Brazil: Institute for Applied Economic Research (www.ipeadata.gov.br)

Canada: OECD (www.oecd.org)

Mexico: Instituto Nacional de Estadística y Geografia (www.inegi.org.mx)

New Zealand: Statistics New Zealand (www.stats.govt.nz)

South Africa: South African Reserve Bank (www.resbank.co.za).