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Estimates of Private Sector Wealth

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  • Tim Callen

    (Reserve Bank of Australia)

Abstract

This paper provides quarterly estimates of private non-human wealth at market prices in Australia over the past decade. These estimates are based on the methodology set out in Piggott (1987), although improvements have been made in several important areas. The estimates suggest that private non-human wealth stood at $1,428 billion in the June quarter 1990. The dwelling stock accounted for 52 per cent of the total, business assets for 37 per cent, with the remainder being made up of consumer durables, holdings of government bonds and holdings of currency. The paper also introduces an index of asset prices, based on the wealth estimates.

Suggested Citation

  • Tim Callen, 1991. "Estimates of Private Sector Wealth," RBA Research Discussion Papers rdp9109, Reserve Bank of Australia.
    • Handle: RePEc:rba:rbardp:rdp9109
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    File URL: https://www.rba.gov.au/publications/rdp/1991/pdf/rdp9109.pdf
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    References listed on IDEAS

    as
    1. Barro, Robert J, 1974. "Are Government Bonds Net Wealth?," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec..
    2. John Piggott, 1987. "The Nation's Private Wealth ‐Some New Calculations for Australia," The Economic Record, The Economic Society of Australia, vol. 63(1), pages 61-79, March.
    3. Piggott, John, 1987. "The Nation's Private Wealth--Some New Calculations for Australia," The Economic Record, The Economic Society of Australia, vol. 63(180), pages 61-79, March.
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    Cited by:

    1. Andrew Beer, 1999. "Housing Investment and the Private Rental Sector in Australia," Urban Studies, Urban Studies Journal Limited, vol. 36(2), pages 255-269, February.
    2. Adrian Blundell-Wignall & Michele Bullock, 1992. "Changes in the Characteristics of the Australian Business Cycle: Some Lessons for Monetary Policy from the 1980s and Early 1990s," RBA Research Discussion Papers rdp9212, Reserve Bank of Australia.
    3. Australian Treasury, 1998. "The Business Cycle — Developments in the Economy’s Response to Disturbances," Economic Roundup, The Treasury, Australian Government, issue 1, pages 45-67, February.
    4. Gerdesmeier, Dieter, 1996. "Die Rolle des Vermögens in der Geldnachfrage," Discussion Paper Series 1: Economic Studies 1996,05, Deutsche Bundesbank.
    5. G. C. Lim & Stuart S. Kells, 1995. "Portfolio Implications of an Equity Rain in Australia," The Economic Record, The Economic Society of Australia, vol. 71(4), pages 367-378, December.
    6. Gerdesmeier, Dieter, 1996. "The role of wealth in money demand," Discussion Paper Series 1: Economic Studies 1996,05e, Deutsche Bundesbank.

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