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Longitudinal Study: HILDA
Title: The impact of children on Australian couples' wealth accumulation
Authors: Bawa, Sherry 
Dockery, Alfred Michael 
Institution: Curtin University
Publication Date: May-2013
Publisher: Bankwest Curtin Economic Centre, Curtin Business School
Pages: 24
Keywords: wealth
lifecycle model
Abstract: Existing estimates of the cost of raising children mainly focus on what parents spend on their children. This paper challenges the conceptual basis for this approach, and instead investigates how the presence of children impacts upon couples’ wealth accumulation using the life-cycle approach and Australian household panel data. Both the results presented here for Australia and those contained in the existing literature suggest that raising a family has a very small impact upon wealth accumulation relative to the ‘cost’ implied from expenditure based estimates. In reconciling these highly divergent estimates, we argue the estimates from the wealth approach make more intuitive sense on a number of fronts, with implications for families and policy.
ISBN: 978-1-925083-01-9/2202-2791
Keywords: Children; Income & Finance -- Financial Management (inc Budgeting); Income & Finance -- Wealth; Families; Activities -- Leisure and lifestyle
Research collection: Reports and technical papers
Appears in Collections:Reports

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