Literature and Perspective of Macro-Economic Characteristics Introduction In the era of global revolution , there is an upscaling attention given to the growth of the revenues of a business. On a...

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Literature and Perspective of Macro-Economic Characteristics
Introduction
In the era of global revolution , there is an upscaling attention given to the growth of the revenues of a business. On a
oader note, the shareholders and future investors are more intrigued in the accurate forecasting of the business growth models. The purpose of this literature and perspective is to analyze the macroeconomic model and the interlink of the impact of macroeconomic in the variable factors – Financial Management, Financial Literacy and Wealth Management. The resulting inference of this literature research is the inference drawn from the multi-domain models of financial growth as a result of the macroeconomic factors.
Attributes
The Macroeconomic factors involved in the study were inflation rates, exchange rates, interest rates and GDP. The features of the Macro-economic model includes the following as depicted in the graph by OECD.
Savings Ability
According to Maddison XXXXXXXXXXand Bosworth (1993), GDP has constructive equation with the savings rate and the economic growth. If we consider the propensity of a defined population to save have a co
elation with the economic factors enlisted above with the composition of the savings, we will realize that savings has a relation with the security sense, profitability expectations and the long term future plans. The key pattern is the greater the rate of income differentiation in the society, the greater is the savings pattern distortion.
Financial Literacy
The significance of the Financial Literacy after the global financial crisis due to the ignorance of the individuals ( Mainly households) has a sheer effect on the paucity of the Macroeconomic risks. According to Habschick et al. (2007), the key driving forces of the financial literacy is : i) the changes in the individual needs ii) the changes occu
ing in the financial sector. The impact of macroeconomic is strongly vi
ant in the segments of social part transfers and income composition of the households and the savings habit development is the most profound indicator for the measurement of financial literacy.
The impact of the core concepts of Financial literacy can be
oadly classified into the four segments :
· Financial Knowledge
· Familiarity with finance
· Financial Skills and Awareness
Financial Management
The Financial Management is linked with the macroeconomic factors like cu
ent income scenario, financial wealth and the demographics of a population. The present income scenario linked with the average income composition of a household in the economy and the crucial management of consumption and savings propensity of the household in the diversified segments. The financial wealth defines the net worth of the entity/individual based on the service lines, agri-business or sole-proprietorship revenue generation. This helps in drawing a pre-estimated analysis on the health of the sectors both public and private and calculate the GDP and National Income of the Country. The Demographics of a population, literacy rate and taste and preference patter also determines the management efficiency of financial assets of a household.
Impact on Wealth Management
Economics and Finance go hand-in-hand from the business point of view. When the fluctuations in the interest rates have a strong co
elation with inflation of a global economy, that is where the wealth management and the Macroeconomics crosses paths.
As per HBS review, the points of impact of wealth management :
1) Interest Rates and Investments – The higher the interest rates , the higher is the return stakes to the investor in a blue-chip business.
2) Money Supply and Interest Rates – The higher the money supply due to fiscal measures , the lower is the interest rates.
3) Economic Growth and Unemployment – The higher the economic growth ( higher flow of money in the market), the lesser is the unemployment and wealth-centric behavior.
Conclusion
The literature perspective states that Macroeconomics and finance are intertwined to analyze the business prospects by predictive analysis and financial management. The savings factor is related to the economic growth and income differentiation segments of macro-economics, while the investment decisions of a wealth manager are linked with the interest rates of a global cu
ency. This concludes that today’s macroeconomics have merged with the finance decisions on a
oader to come up with the better outcome in the long run. As per the HBR review, the macroeconomics facet are profoundly accepted in every field/profession as it deals with the core financial links to smarter investment decisions, better understanding of the profitability and policy formulation.
Citations & References
· https:
www.ccsenet.org/journal/index.php/ijef/article/view/14247
· https:
jwm.pm-research.com/content/12/1/41/tab-pdf-disaabled
· https:
www.emerald.com/insight/content/doi/10.1108/AJAR XXXXXXXXXX/full/html
· https:
www.penzugyiszemle.hu/upload/pdf/penzugyi_szemle_angol/volume_LVII_2012_3/a_298_312_beres_huzdik.pdf
Characteristics of Macroeconomics-OECD Report
1998    Population(Thousands)    GDP ( growth %)     Inflation Rate     Wage Level     Investments     National Savings     24100    0    26    0    2000    Population(Thousands)    GDP ( growth %)     Inflation Rate     Wage Level     Investments     National Savings     24700    0    28    0    2002    Population(Thousands)    GDP ( growth %)     Inflation Rate     Wage Level     Investments     National Savings     25100    0    0    0    
Answered 8 days AfterJan 06, 2022

Answer To : Literature and Perspective of Macro-Economic Characteristics Introduction In the era of global...

Parul answered on Jan 09 2022
38 Votes
Literature and Perspective of Personal Characteristics on financial well-being and wealth Management
Literature and Perspective of Personal Characteristics on financial well-being and wealth Management
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Introduct
ion
In this fast-paced dynamic era, where everyone is running a chase, it is imperative to maintain strong financial health to thrive in market. There is lot of focus given on upskilling and learning since it can help gauge constant source of income for an individual. Essentially, if an individual doesn’t have financial independence, then s/he is vulnerable to lot of uncertainty. By the virtue of this report, I have performed extensive research on how the individual characteristics like gender, age, level of employment, ethnicity, culture, religion, educational level, social aspects and living standards impact on individual economic activities as well as management of wealth. This report also explains the relationship between the personal characteristics with the ability to save, financial literacy and management (Mandell, 2009).
Attributes
The personal characteristic that are involved in this research are gender, age, level of employment, ethnicity, culture, religion, educational level, social aspects and living standards. There are some key features that overlap other characteristics like age and gender (Hastings, Madrian & Skimmyhorn, 2013).
· If an individual is educated then she or he has more inclination towards management of wealth and financial planning
· If individual belongs to Western Culture where there is less planning towards future relative to Eastern Culture where people are practically condition to save their money for future. Therefore, religion also is a crucial factor that impact financial planning and wealth management. Hence, religion and ethnicity actually shape the behaviour and mindset of the individuals since culture plays a crucial role in up
inging of any individual.
· Gender also is an important personal characteristic that determine the capacity of saving as well as earning ability. Majority of time, men are the ones who get the opportunity to pursue higher education that boost their ability to earn. However, women on the other hand might got the same opportunity for higher education. In many cultures, women are conditioned to stay back at home and take care of non-productive operations....
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