The Structure and Distribution of Household Wealth in Australia

17 Pages Posted: 5 Jul 2005

See all articles by Bruce Headey

Bruce Headey

University of Melbourne - Melbourne Institute of Applied Economic and Social Research

Gary N. Marks

affiliation not provided to SSRN

Mark Wooden

University of Melbourne - Melbourne Institute of Applied Economic and Social Research; IZA Institute of Labor Economics

Abstract

This article uses data from the second wave of the Household, Income and Labour Dynamics in Australia (or HILDA) Survey to provide an overview of the structure and distribution of household wealth in Australia. The data confirm that wealth is very unequally distributed, with the bottom half of the distribution owning less than 10 per cent of total household net worth, while the wealthiest 10 per cent account for 45 per cent. The article also includes an analysis of the factors associated with household wealth that indicates that wealth is significantly related to a range of factors including age, country of birth, parental occupational status, education, marital status, working hours, income, self-reported savings behaviour, a willingness to take risks and even various lifestyle behaviours, such as smoking and alcohol consumption.

Suggested Citation

Headey, Bruce and Marks, Gary N. and Wooden, Mark, The Structure and Distribution of Household Wealth in Australia. Australian Economic Review, Vol. 38, No. 2, pp. 159-175, June 2005. Available at SSRN: https://ssrn.com/abstract=745569

Bruce Headey (Contact Author)

University of Melbourne - Melbourne Institute of Applied Economic and Social Research ( email )

Level 5, FBE Building, 111 Barry Street
Parkville, Victoria 3010
Australia

Gary N. Marks

affiliation not provided to SSRN

Mark Wooden

University of Melbourne - Melbourne Institute of Applied Economic and Social Research ( email )

Level 5, FBE Building, 111 Barry Street
Parkville, Victoria 3010
Australia

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

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