IDEAS home Printed from https://ideas.repec.org/p/rba/rbardp/rdp8606.html
   My bibliography  Save this paper

The Nation’s Wealth – Some New Calculations for Australia

Author

Listed:
  • John Piggott

    (University of Sydney)

Abstract

This paper has two related purposes. The first is to bring together and review a number of earlier studies which have attempted to estimate the value of Australia’s privately held wealth stock. The second is to present new estimates covering the 1980s, based partly on these earlier studies, which value all major components of the nation’s private wealth at their market value, or a close approximation. The calculations reported here represent the first aggregate Australian wealth series for which comprehensive market valuation can be claimed. Australia’s aggregate non-human private wealth was found to be $794 billion at 30 June 1985. The series as a whole suggests that previous estimates have significantly undervalued Australia’s wealth. At 30 June 1981, the Helliwell–Boxall (1978) study, updated by the Reserve Bank, reported a value of $294.7 billion, while Williams (1983) gave a value of $360.5 billion. The corresponding estimate for the new series is $533.0 billion. Because the new calculations presented here value wealth by component, it is possible to identify omissions and valuation differences which account for most of the variation between these estimates.

Suggested Citation

  • John Piggott, 1986. "The Nation’s Wealth – Some New Calculations for Australia," RBA Research Discussion Papers rdp8606, Reserve Bank of Australia.
    • Handle: RePEc:rba:rbardp:rdp8606
    as

    Download full text from publisher

    File URL: https://www.rba.gov.au/publications/rdp/1986/8606.html
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rba:rbardp:rdp8606. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Paula Drew (email available below). General contact details of provider: https://edirc.repec.org/data/rbagvau.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.