Mandated superannuation contributions and the structure of the financial sector in Australia
Peter Dixon and
Journal of Policy Modeling, 2019, vol. 41, issue 5, 859-881
Australian workers must contribute a proportion of their wage to superannuation. The mandated contribution rate has risen from 3% in 1992, to 9.5% today, and is scheduled to reach 12% by 2025. We use a financial computable general equilibrium (FCGE) model to simulate an increase in the contribution rate. We find that raising the contribution rate has consequences for traditional financial intermediaries, and for financial structure more generally. This is of interest to Australian policy makers currently concerned with the size and role of Australia’s banks, and the leverage of the household sector.
Keywords: Financial CGE model; Superannuation; Commercial banks; Macroeconomic stability (search for similar items in EconPapers)
JEL-codes: C68 E63 G11 G17 G21 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jpolmo:v:41:y:2019:i:5:p:859-881
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