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The rise in household saving and its implications for the Australian economy

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  • Owen Freestone

    (Treasury, Government of Australia)

  • Danial Gaudry

    (Treasury, Government of Australia)

  • Anthony Obeyesekere

    (Treasury, Government of Australia)

  • Matthew Sedgwick

    (Treasury, Government of Australia)

Abstract

This paper looks at the increase in saving and the more subdued borrowing by households in recent years, exploring how this has been reflected in the household sector's financial transactions and balance sheet. The paper outlines a number of possible reasons for the turnaround and discusses the implications for the Australian economy, including the current account balance, bank funding, households' sensitivity to shocks and interest rates.

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File URL: http://www.treasury.gov.au/~/media/Treasury/Publications%20and%20Media/Publications/2011/Economic%20roundup%20issue%202/Downloads/03_household_saving.ashx
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File URL: http://www.treasury.gov.au/PublicationsAndMedia/Publications/2011/Economic-Roundup-Issue-2/Report/The-rise-in-household-saving-and-its-implications-for-the-Australian-economy
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Bibliographic Info

Article provided by Treasury, Australian Government in its journal Economic Roundup.

Volume (Year): (2011)
Issue (Month): 2 (September)
Pages: 61-79

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Handle: RePEc:tsy:journl:journl_tsy_er_2011_2_3

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Keywords: consumption; wealth;

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  1. Tony McDonald & Steven Morling, 2011. "The Australian economy and the global downturn, Part 2: The key quarters," Economic Roundup, Treasury, Australian Government, Treasury, Australian Government, issue 2, pages 33-60, September.
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