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The Relationship between Income, Wealth and Age in Australia

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  • Alan Tapper
  • Alan Fenna

Abstract

This article analyses the relationship between income, wealth, wealth‐adjusted income and age in Australia using a 2009–10 cross‐sectional data set. The main findings are: (i) wealth and wealth‐adjusted income generally rise with age, while income is constant across the life cycle; (ii) both income inequality and wealth inequality rise until mid‐life and fall thereafter, while wealth‐adjusted income inequality depends on the method of calculation used, one showing a fall in later life and another showing no fall; and (iii) after income, wealth and wealth‐adjusted income inequalities are adjusted for age, underlying inequality is lower in all three cases.

Suggested Citation

  • Alan Tapper & Alan Fenna, 2019. "The Relationship between Income, Wealth and Age in Australia," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 52(4), pages 393-405, December.
    • Handle: RePEc:bla:ausecr:v:52:y:2019:i:4:p:393-405
    DOI: 10.1111/1467-8462.12326
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    Cited by:

    1. Mara Hammerle & Paul J. Burke, 2022. "Solar PV and energy poverty in Australia's residential sector," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 66(4), pages 822-841, October.

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