Search: macro economy

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RBA Glossary definition for macro economy

macro economy – The economy looked at as a whole or in terms of major components measured by aggregates such as gross domestic product, the balance of payments and related links, in the context of the national economy. This contrasts with microeconomics which focuses upon specific firms or industries.

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The Evolution of Corporate Financial Structure: 1973–1990

1 Dec 1992 RDP 9216
Philip Lowe and Geoffrey Shuetrim
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1992/9216.html

Introduction

1 Dec 1992 RDP 9216
Philip Lowe and Geoffrey Shuetrim
On the macro-economic front, there was little interest in the relationship between corporate finance and the business cycle following the work of Friedman and Schwartz (1963). ... For example, the extent to which the macro-economy becomes more vulnerable
https://www.rba.gov.au/publications/rdp/1992/9216/introduction.html

The Data and Methodology

1 Dec 1992 RDP 9216
Philip Lowe and Geoffrey Shuetrim
These various reporting dates make it difficult to line up the yearly figures with year to year movements in macro-economic variables. ... When comparing changes in financial behaviour with developments in the macro-economy, we generally treat the figure
https://www.rba.gov.au/publications/rdp/1992/9216/data-and-methodology.html

Summary and Conclusions

1 Dec 1992 RDP 9216
Philip Lowe and Geoffrey Shuetrim
As the economy recovered from the recession, firms began to finance asset expansion primarily through debt. ... earnings following an adverse macro-economic shock.
https://www.rba.gov.au/publications/rdp/1992/9216/summary-and-conclusions.html

The Relationship between Financial Structure and the Cyclicality of Output and Earnings

1 Dec 1992 RDP 9216
Philip Lowe and Geoffrey Shuetrim
is unlikely to have important implications for the growth path of the macro-economy. ... There is a growing literature on the links between the financial structure of firms and the evolution of the macro-economy.
https://www.rba.gov.au/publications/rdp/1992/9216/relationship-between-financial-structure-and-the-cyclicality-of-output-and-earnings.html

Behaviour of the Financial Ratios

1 Dec 1992 RDP 9216
Philip Lowe and Geoffrey Shuetrim
Large increases in leverage, as experienced in the 1980s, may leave the economy more exposed to adverse macro-economic shocks. ... The buoyant economy in 1973/74 saw profits increase and interest cover rise.
https://www.rba.gov.au/publications/rdp/1992/9216/behaviour-of-the-financial-ratios.html