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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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Appendix A: Model Specifications

20 Sep 2022 RDP 2022-03
Nicholas Garvin, Samuel Kurian, Mike Major and David Norman
accounts for the natural level of defaults that take place even in a strong economy. (. ... 0. The pre-calibrated PD coefficients used in these equations are shown in Table A2 and LGDs do not depend on the macro environment.
https://www.rba.gov.au/publications/rdp/2022/2022-03/appendix-a.html

References

20 Sep 2022 RDP 2022-03
Nicholas Garvin, Samuel Kurian, Mike Major and David Norman
Bank of Japan (2020), ‘The Financial Macro-Econometric Model (FMM, March-2020 Version): Overview and Recent Developments’, Financial System Report Annex Series, August. ... Jacobs D and V Rayner (2012), ‘The Role of Credit Supply in the Australian
https://www.rba.gov.au/publications/rdp/2022/2022-03/references.html

Macrofinancial Stress Testing on Australian Banks

20 Sep 2022 RDP 2022-03
Nicholas Garvin, Samuel Kurian, Mike Major and David Norman
selling assets) or doing things that mean they are not effectively performing their role in supporting the economy (which motivates the prohibition on contracting lending or raising lending rates). ... P. D. ). that reflects the natural level of default
https://www.rba.gov.au/publications/rdp/2022/2022-03/full.html