Research Discussion Paper – RDP 8606 The Nation's Wealth – Some New Calculations for Australia



This paper was written while I was visiting the Research Department, Reserve Bank of Australia from the University of Sydney. I am grateful to the Bank for providing research facilities and to its staff for stimulating discussion and cheerful co-operation. Ian Russell patiently coped with many questions about the Reserve Bank wealth series and Philip Moffitt provided able research assistance. The assistance of a number of other government agencies, including the Bureau of Agricultural Economics, the Australian Bureau of Statistics, and the Department of Housing and Construction, is also gratefully acknowledged. Jeff Carmichael of the Bank, and Robert Walters, of the Australian Bureau of Statistics, provided detailed comments on an earlier draft, which served to correct a number of errors and improved the exposition. The data appendix was expertly prepared by Nguyen van Anh. The results and interpretations in the paper are, however, entirely my own except where explicit acknowledgment is made; they are not necessarily those of the Bank, or of any of its officers. [*]