Fair crack of the whip? The distribution of augmented wealth in Australia from 2002 to 2018

Maximilian Longmuir

The Journal of Economic Inequality, 2023, vol. 21, issue 4, No 4, 835-866

Abstract: Abstract The omission of pension wealth potentially distorts the international comparison of wealth distributions. Private pension wealth is often included in households’ wealth portfolios, while public pension claims are not. Augmented wealth, the sum of net worth and pension wealth, resolves this limitation by including the present value of social security pension wealth. This article provides a detailed analysis of augmented wealth in Australia between 2002 and 2018, capturing the establishment of the compulsory private pension scheme, Superannuation, which was introduced in 1992. Augmented wealth is slightly less equally distributed in Australia than in Germany or Switzerland but more equal than in the United States. The article also explores the relationship between Superannuation dissaving rates and the means-tested public pension scheme, Age Pension, and its distributional implications.

Keywords: Augmented wealth; Net worth; Pension wealth; Inequality; Household income and labour dynamics in Australia survey; D31; H55; J32 (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s10888-023-09575-9 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
Working Paper: Fair Crack of the Whip? The Distribution of Augmented Wealth in Australia from 2002 to 2018 (2021)
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: https://EconPapers.repec.org/RePEc:spr:joecin:v:21:y:2023:i:4:d:10.1007_s10888-023-09575-9

Ordering information: This journal article can be ordered from
http://www.springer.com/journal/10888

DOI: 10.1007/s10888-023-09575-9

Access Statistics for this article

The Journal of Economic Inequality is currently edited by Stephen Jenkins

More articles in The Journal of Economic Inequality from Springer, Society for the Study of Economic Inequality Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().