Economics at your fingertips  

The Correlation of Wealth Between Parents and Children in Australia

Peter Siminski and Sin Hung (Timothy) Yu

Australian Economic Review, 2022, vol. 55, issue 2, 195-214

Abstract: We present the first estimates of intergenerational wealth mobility for Australia. The rank correlation is 0.253, compared to 0.306 for the United States using comparable methods. This correlation varies greatly by child age when wealth is observed, from 0.1 before age 30, to 0.5 after age 40. This sharp increase with age is stronger than for other countries, is not explained by sample selection bias and is not specific to particular types of wealth. We also argue that neither income mobility nor wealth mobility, as operationalised in empirical work, align neatly with the wealth concept in the Becker & Tomes framework.

Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)

Related works:
Working Paper: The Correlation of Wealth between Parents and Children in Australia (2021) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0004-9018

Access Statistics for this article

Australian Economic Review is currently edited by Ross Williams, Ian McDonald and Mark Wooden

More articles in Australian Economic Review from The University of Melbourne, Melbourne Institute of Applied Economic and Social Research Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().

Page updated 2023-03-26
Handle: RePEc:bla:ausecr:v:55:y:2022:i:2:p:195-214