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Household Inequality and Risk Sharing in Australia

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  • Youjin Hahn
  • Stephen Matteo Miller
  • Hee-Seung Yang

Abstract

This study presents estimates of multidimensional household inequality in Australia from 2001 to 2017. Earnings inequality declines through the sample, while disposable income, non-durable consumption expenditures, food expenditures and net worth inequality exhibit relatively flat trends. The relatively flat trend for non-durable expenditures inequality, even over the life cycle, suggests households insure consumption against idiosyncratic shocks. Standard regression estimates of consumption growth against income shocks confirm this finding. Quantile regression estimates indicate households experiencing negative (positive) consumption growth have more sensitivity to negative (positive) income shocks than households with positive (negative) consumption growth, but coefficient estimates have small magnitudes, confirming standard tests.

Suggested Citation

  • Youjin Hahn & Stephen Matteo Miller & Hee-Seung Yang, 2021. "Household Inequality and Risk Sharing in Australia," Global Economic Review, Taylor & Francis Journals, vol. 50(2), pages 169-191, April.
    • Handle: RePEc:taf:glecrv:v:50:y:2021:i:2:p:169-191
    DOI: 10.1080/1226508X.2020.1862692
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