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The Distribution of Wealth in Australia — A Survey

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  • JOHN PIGGOTT

Abstract

This paper surveys and analyzes the available evidence on the distribution of wealth in Australia. On the basis of this evidence, it is argued that the cross‐section distribution of personal wealth reveals considerable concentration in the top tail, with the top 1 per cent of adult individuals holding around 25 per cent of private wealth. The inequality of wealth revealed in the cross‐section distribution among the top 10 per cent of wealth holders is not significantly reduced when adjustments are made to correct for life‐cycle influences. Although the proportion of wealth held by the top 1 per cent of adult individuals has decreased sharply since World War I, the second to tenth percentiles have almost the same proportion in the 1960s and 1970s as in 1915.

Suggested Citation

  • John Piggott, 1984. "The Distribution of Wealth in Australia — A Survey," The Economic Record, The Economic Society of Australia, vol. 60(3), pages 252-265, September.
    • Handle: RePEc:bla:ecorec:v:60:y:1984:i:3:p:252-265
    DOI: 10.1111/j.1475-4932.1984.tb00860.x
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    References listed on IDEAS

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    1. Izan, H. Y. & Clements, Kenneth W., 1985. "A cross-sectional analysis of asset holdings," Journal of Business Research, Elsevier, vol. 13(6), pages 473-481, December.
    2. Yates, Judith, 1981. "An Analysis of Asset Holdings in Australia by Income Class," Working Papers 53, University of Sydney, School of Economics.
    3. John Helliwell & Peter Boxall, 1978. "Private Sector Wealth: Quarterly Estimates for use in an Aggregate Model," The Economic Record, The Economic Society of Australia, vol. 54(1), pages 45-64, April.
    4. J. W. Nevile & N. A. Warren, 1984. "How Much Do We Know About Wealth Distribution in Australia?," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 17(4), pages 23-33, December.
    5. Ross A. Williams, 1983. "Ownership of Dwellings and Personal Wealth in Australia," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 16(2), pages 55-62, August.
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    Cited by:

    1. Gavin A. Wood, 1999. "Home-owner Residential Property Taxes and their Burden on Net Personal Wealth: An Empirical Study for Australia," Urban Studies, Urban Studies Journal Limited, vol. 36(2), pages 239-254, February.
    2. John Piggott, 1987. "The Nation's Private Wealth ‐Some New Calculations for Australia," The Economic Record, The Economic Society of Australia, vol. 63(1), pages 61-79, March.

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