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 Rise in Household Liquidity

10 Nov 2021 RDP 2021-10
Gianni La Cava and Lydia Wang
This is true for Australia and for most advanced economies. We explore the determinants of liquidity across households and over time, using a range of household surveys for Australia.
https://www.rba.gov.au/publications/rdp/2021/2021-10.html

The Rise in Household Liquidity

10 Nov 2021 RDP 2021-10
Gianni La Cava and Lydia Wang
The rise in household liquidity has not been specific to Australia but has been observed in basically all OECD economies since the start of the century (Figure 2). ... The ABS distributional accounts integrate micro (the SIH) and macro (national accounts)
https://www.rba.gov.au/publications/rdp/2021/2021-10/full.html

Conclusion

10 Nov 2021 RDP 2021-10
Gianni La Cava and Lydia Wang
We document a less well-known phenomenon that has occurred in almost every advanced economy: household liquid assets have risen strongly relative to income over the same period.
https://www.rba.gov.au/publications/rdp/2021/2021-10/conclusion.html

References

10 Nov 2021 RDP 2021-10
Gianni La Cava and Lydia Wang
Ellis L (2005), ‘Disinflation and the Dynamics of Mortgage Debt’, in Investigating the Relationship between the Financial and Real Economy, BIS Papers No 22, Bank for International Settlements, Basel, pp
https://www.rba.gov.au/publications/rdp/2021/2021-10/references.html

The Rise in Household Liquidity

10 Nov 2021 RDP 2021-10
Gianni La Cava and Lydia Wang
It is common in the mainstream media, and even among academic research, to read that higher housing prices and debt over recent decades has made the economy more financially fragile (Bartscher ... The rise in household liquidity has not been specific to
https://www.rba.gov.au/publications/rdp/2021/2021-10/the-rise-in-household-liquidity.html

Alternative Explanations for the Rise in Household Liquidity

10 Nov 2021 RDP 2021-10
Gianni La Cava and Lydia Wang
These accounts allow us to track how liquidity evolves both within and between different age groups in the economy.
https://www.rba.gov.au/publications/rdp/2021/2021-10/alternative-explanations-for-the-rise-in-household-liquidity.html