Please use this identifier to cite or link to this item: https://hdl.handle.net/10620/18272
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dc.contributor.authorLa Cava, Gen
dc.contributor.authorLa Cava, Giannien
dc.contributor.authorStone, Tahleeen
dc.contributor.authorDollman, Rosettaen
dc.contributor.authorKaplan, Gregen
dc.date.accessioned2019-04-13T03:42:38Zen
dc.date.accessioned2017-03-07T04:38:24Zen
dc.date.available2017-03-07T04:38:24Zen
dc.date.issued2015-12en
dc.identifier.urihttps://hdl.handle.net/10620/18272en
dc.identifier.urihttp://hdl.handle.net/10620/4336en
dc.description.abstractWe document some new stylised facts about consumption and income inequality (or ‘economic inequality’) among households in Australia. Based on household-level information from the Household Expenditure Survey we find that consumption inequality is lower on average than income inequality, but that income and consumption inequality have both increased a little since the early 1990s, with income inequality increasing by more. These findings are broadly similar to the changes in income and consumption inequality documented in other developed economies. We provide insight into the welfare implications of these changes using panel data from the Household, Income and Labour Dynamics in Australia Survey. We decompose the broad trends in income inequality into four statistical components: (i) changes in observed household characteristics; (ii) changes in the returns to unobserved skills; (iii) changes in the size of persistent income shocks (reflecting events such as promotions and long-term unemployment); and (iv) changes in the size of transitory income shocks (reflecting events such as bonuses, short-term unemployment and short-term illness). The reported trends in income inequality do not appear to be due to changes in observed household characteristics, but rather to changes in the size of persistent and transitory income shocks. Since the middle of the 2000s, at least some of the increase in income inequality has been due to persistent factors, a conclusion that is consistent with the rise in consumption inequality over the corresponding period.en
dc.publisherReserve Bank of Australiaen
dc.subjectFinance -- Income (Salary and Wages)en
dc.subjectHousing -- Rentalen
dc.subjectCulture -- Inequalityen
dc.titleHousehold Economic Inequality in Australiaen
dc.typeReports and technical papersen
dc.identifier.urlhttp://www.rba.gov.au/publications/rdp/2015/2015-15/en
dc.identifier.surveyHILDAen
dc.description.institutionReserve Bank of Australiaen
dc.title.reportResearch Discussion Papersen
dc.description.keywordsinequalityen
dc.description.keywordsconsumptionen
dc.description.keywordsimputed renten
dc.description.keywordsincomeen
dc.description.pages57en
local.identifier.id4911en
dc.publisher.citySydneyen
dc.subject.dssIncome, wealth and financesen
dc.subject.dssmaincategoryCultureen
dc.subject.dssmaincategoryHousingen
dc.subject.dssmaincategoryFinanceen
dc.subject.dsssubcategoryIncome (Salary and Wages)en
dc.subject.dsssubcategoryRentalen
dc.subject.dsssubcategoryInequalityen
dc.subject.flosseIncome, wealth and financesen
dc.relation.surveyHILDAen
dc.old.surveyvalueHILDAen
item.openairetypeReports and technical papers-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
item.cerifentitytypePublications-
item.grantfulltextnone-
item.fulltextNo Fulltext-
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