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Inequality and Market Concentration: New Evidence from Australia

Author

Listed:
  • Lachlan Hotchin

    (Monash university)

  • Andrew Leigh

    (Parliament of Australia)

Abstract

Are excessively concentrated markets inequitable as well as inefficient? We explore this issue by analyzing the degree of market concentration in the industries where Australia's wealthiest made their fortunes. Compared with the economy at large, we find that top wealth holders have tended to make their fortunes in industries with a higher-than-average degree of market concentration. Top wealth shares have grown substantially, and from 1990 to 2020, there appears to have been an increase in the propensity of top wealth holders to make their fortunes in highly concentrated industries.

Suggested Citation

  • Lachlan Hotchin & Andrew Leigh, 2024. "Inequality and Market Concentration: New Evidence from Australia," World Inequality Lab Working Papers halshs-04753385, HAL.
    • Handle: RePEc:hal:wilwps:halshs-04753385
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-04753385v1
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    Keywords

    income distribution; competition; market power;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • L12 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Monopoly; Monopolization Strategies
    • L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices

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