RBA research sets out stress test for households

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The Reserve Bank of Australia

Policy-makers could miss important aspects of indebtedness if they do not stress-test their households, research published today by the Reserve Bank of Australia (RBA) warns.

"Aggregate measures of household indebtedness may be misleading indicators of the household sector's financial fragility," write authors Tom Bilston, Robert Johnson and Matthew Read, all economists at the RBA.

They plug data from the Household, Income and Labour Dynamics in Australia (or ‘Hilda') survey into a stress-testin

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