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RBA Glossary definition for aggregate supply
aggregate supply – Gross domestic product as measured by the value of goods and services produced.
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The Rise in Household Liquidity
10 Nov 2021
RDP
2021-10
Aggregate household liquidity buffers are measured using national accounts data from the Australian Bureau of Statistics (ABS). ... The aggregate household liquidity buffer is the ratio of household liquid assets to disposable income.
https://www.rba.gov.au/publications/rdp/2021/2021-10/full.html
Read me file
10 Nov 2021
RDP
2021-10
Do file: HILDA – Output – 2. do. Functions: Produces Table C1: Aggregate Household Liquidity Buffers, Statistical Area Level 4.
https://www.rba.gov.au/publications/rdp/2021/2021-10/read-me.html
Appendix C: Household Liquidity and Local Area Housing Prices
10 Nov 2021
RDP
2021-10
The first regression estimates aggregate all liquid assets, housing wealth, mortgage debt and income by local housing market and year. ... This is consistent with the process of debt amortisation increasing liquidity for households, even at an aggregate
https://www.rba.gov.au/publications/rdp/2021/2021-10/appendix-c.html
The Rise in Household Liquidity
10 Nov 2021
RDP
2021-10
Moreover, the value of household liquid assets now basically matches the value of gross household debt, at least at an aggregate level. ... As further evidence, we use local projection methods to demonstrate that lower interest rates are associated with
https://www.rba.gov.au/publications/rdp/2021/2021-10/the-rise-in-household-liquidity.html
Appendix B: Cross-country Evidence on Liquidity Buffers
10 Nov 2021
RDP
2021-10
OECD countries, aggregate level, 1989–2019. Note: Shaded area represents confidence interval based /– 2 standard errors.
https://www.rba.gov.au/publications/rdp/2021/2021-10/appendix-b.html
Alternative Explanations for the Rise in Household Liquidity
10 Nov 2021
RDP
2021-10
This suggests that the rise in income inequality has been important to the rise in aggregate liquidity. ... Sources: ABS; Authors' calculations. The rise in household liquidity could also be due to supply-side factors.
https://www.rba.gov.au/publications/rdp/2021/2021-10/alternative-explanations-for-the-rise-in-household-liquidity.html
Conclusion
10 Nov 2021
RDP
2021-10
fragile. The significant decline in liquidity constraints amongst households with mortgage debt indicates that the repayment risk associated with aggregate mortgage debt has declined over recent decades. ... For example, these accounts may make aggregate
https://www.rba.gov.au/publications/rdp/2021/2021-10/conclusion.html
How Do We Measure Household Liquidity?
10 Nov 2021
RDP
2021-10
Aggregate household liquidity buffers are measured using national accounts data from the Australian Bureau of Statistics (ABS). ... The aggregate household liquidity buffer is the ratio of household liquid assets to disposable income.
https://www.rba.gov.au/publications/rdp/2021/2021-10/how-do-we-measure-household-liquidity.html
Household Liquidity and Mortgage Debt Dynamics
10 Nov 2021
RDP
2021-10
However, the share of households facing higher income risk is not large enough to fully explain the rise in aggregate liquidity buffers, suggesting that other forces are at play too.
https://www.rba.gov.au/publications/rdp/2021/2021-10/household-liquidity-and-mortgage-debt-dynamics.html
Stylised Facts about Household Liquidity
10 Nov 2021
RDP
2021-10
Sources: ABS; Authors' calculations. The introduction of mortgage offset and redraw facilities is likely to have increased the liquidity of housing wealth and contributed to the rise in aggregate household liquidity. ... At an aggregate level, around
https://www.rba.gov.au/publications/rdp/2021/2021-10/stylised-facts-about-household-liquidity.html