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Exploring recent increases in the gender wealth gap among Australia’s single households

Author

Listed:
  • Siobhan Austen
  • Rachel Ong
  • Sherry Bawa
  • Therese Jefferson

Abstract

This study uses three wealth modules from the Household, Income and Labour Dynamics in Australia Survey to explore the gender wealth gap for single Australian households between 2002 and 2010. The findings indicate a significant gender wealth gap, which has increased over the 8 years explored. Most of the increase in the wealth gap was associated with a relatively rapid increase in the value of housing assets by single men over the study period. The findings of this study challenge a wider literature that tends to emphasise that men are more prepared to invest in ‘risky’ assets such as shares and that their higher wealth is due to these investment strategies. Instead, this study emphasises how, in the Australian context at least, it was higher growth rates in the value of housing assets owned by single men that improved their wealth position relative to single women over the last decade.

Suggested Citation

  • Siobhan Austen & Rachel Ong & Sherry Bawa & Therese Jefferson, 2015. "Exploring recent increases in the gender wealth gap among Australia’s single households," The Economic and Labour Relations Review, , vol. 26(1), pages 3-28, March.
    • Handle: RePEc:sae:ecolab:v:26:y:2015:i:1:p:3-28
    DOI: 10.1177/1035304614556040
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    References listed on IDEAS

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    1. Lucie Schmidt & Purvi Sevak, 2006. "Gender, Marriage, And Asset Accumulation In The United States," Feminist Economics, Taylor & Francis Journals, vol. 12(1-2), pages 139-166.
    2. Sierminska, Eva M. & Frick, Joachim R. & Grabka, Markus M., 2010. "Examining the gender wealth gap," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 62(4), pages 669-690.
    3. Siobhan Austen & Therese Jefferson & Rachel Ong, 2014. "The Gender Gap in Financial Security: What We Know and Don't Know about Australian Households," Feminist Economics, Taylor & Francis Journals, vol. 20(3), pages 25-52, July.
    4. Nick Parr & Shauna Ferris & Stéphane Mahuteau, 2007. "The Impact of Children on Australian Women's and Men's Superannuation," The Economic and Labour Relations Review, , vol. 18(1), pages 3-26, November.
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    6. Carmen Diana Deere & Cheryl Doss, 2006. "The Gender Asset Gap: What Do We Know And Why Does It Matter?," Feminist Economics, Taylor & Francis Journals, vol. 12(1-2), pages 1-50.
    7. Alexis Yamokoski & Lisa Keister, 2006. "The Wealth Of Single Women: Marital Status And Parenthood In The Asset Accumulation Of Young Baby Boomers In The United States," Feminist Economics, Taylor & Francis Journals, vol. 12(1-2), pages 167-194.
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    9. Therese Jefferson, 2005. "Women and Retirement Incomes in Australia: A Review," The Economic Record, The Economic Society of Australia, vol. 81(254), pages 273-291, September.
    10. Tracey Warren, 2006. "Moving Beyond The Gender Wealth Gap: On Gender, Class, Ethnicity, And Wealth Inequalities In The United Kingdom," Feminist Economics, Taylor & Francis Journals, vol. 12(1-2), pages 195-219.
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    Cited by:

    1. Rohan Best & Noura Saba, 2021. "Quantifying Australia’s Gender Superannuation Gap," The Economic Record, The Economic Society of Australia, vol. 97(318), pages 410-423, September.
    2. Veronica Sheen, 2017. "The implications of Australian women’s precarious employment for the later pension age," The Economic and Labour Relations Review, , vol. 28(1), pages 3-19, March.
    3. Roger Wilkins, 2021. "Economic Wellbeing," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 54(4), pages 469-481, December.
    4. Duc Hong Vo & Phuong Doan Ho & Chi Minh Ho & Michael McAleer, 2019. "The Gender Wealth Gap by Household Head in Vietnam," Advances in Decision Sciences, Asia University, Taiwan, vol. 23(3), pages 122-153, September.

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    More about this item

    Keywords

    Assets; Australia; gender; portfolio composition; wealth;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution

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