Australian Trends in Wealth Inequality: Household Projections Using Microsimulation

The distribution of economic wellbeing is a keyindicator of a society and is a function ofinequalities in income, wealth and consumption. However, almost all studies have relied upon incomeas the sole measure of economic wellbeing. Theomission of wealth overlooks that wealth providessecurity, freedom and power. These features are notcaptured by income alone. This book attempts to enhance our understanding ofthe distribution of economic wellbeing and inequalityin Australia by using wealth as the measure. Itprovides trends and estimates of the level andinequality of wealth in Australia at the currenttime. It estimates future wealth inequality. Finally, it provides some insights into a number ofwealth-related social policy questions. The author is able to these very detailed projectionsthrough the use of a technique not previouslyemployed in Australia to estimate wealth - dynamicmicrosimulation. This book should be especially useful tomicrosimulation modellers, social policy researchers,those with an interest in the economic impact of anageing population, or anyone interested in trends inwealth inequality.