12 This increased specialisation is consistent with issuers addressing the needs of different types of investors. All of these developments point to the evolution of the Australian securitisation market over the past few years, with non-bank issuers playing an increasingly important role and non-resident investors taking an increasing share of issuance.
in the automobile and financial sector), or through depreciation of human capital in case of an increase in structural unemployment. In addition, there is no guarantee that the economy will return to its pre-crisis long-run trend potential output growth rate.