Abstract
The growth in building societies in Australia over the 1970s mirrors the relative decline in the savings banks. The growth in deposits with building societies is shown to be due mainly to increased total wealth, rather than changes in interest rates. The responsiveness of holdings of four important financial assets to changes in interest rates and wealth is also discussed.
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References
1.
Taylor, J.C.
and
K.W. Clements
, 1980 , “A Simple Portfolio Allocation Model of Financial Wealth in Australia ”. Presented at the Ninth Conference of Economists , Brisbane , August 1980.