RBA paper aims to reduce noise in GDP calculation
New measure less volatile and easier to calculate, authors say
A research discussion paper published today by the Reserve Bank of Australia (RBA) seeks to tackle the high levels of noise in the calculation of Australian GDP, coming up with a new calculation method.
In A State-space Approach to Australian GDP Measurement, authors Daniel Rees, David Lancaster and Richard Finlay construct their new method by combining data from the three distinct measures of GDP used in Australia. These are based on expenditure, income and production, and should, the
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