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The Reserve Bank of Australia (RBA) has released a new paper examining the household sector’s financial resilience to macroeconomic shocks, which draws upon data from the Household, Income and Labour Dynamics in Australia (HILDA) Survey.
The key findings of the paper are as that Australia’s households are well-placed to manage their record high debt loads since the debt is generally held by those that are best capable of servicing it – i.e. higher income earners:
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.