Webinar: Maximilian Longmuir, Freie Universität Berlin - Fair Crack of the Whip? The Distribution of Augmented Wealth in Australia Over Time
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Title: Fair Crack of the Whip? The Distribution of Augmented Wealth in Australia Over Time
Abstract: Pension wealth potentially distorts international comparisons of wealth distributions. Private pension wealth is often included in household's wealth portfolios, while public pension claims are not. Augmented wealth, the sum of net worth and pension wealth, resolves this limitation by including the present value of social security pension wealth. I use five waves of the “Household, Income and Labour Dynamics in Australia” survey from 2002 to 2018 to analyze augmented wealth over time. Augmented wealth inequality is persistent over time. Pension wealth only moderately reduces wealth inequality, as relatively few Australian households hold social security pension wealth, while the Superannuation scheme is proportionate to the net worth distribution. In an international comparison the Gini index of augmented wealth in Australia lies between Germany and the United States.
Presenter: Maximilian Longmuir, Freie Universität Berlin
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