Economic RecordPub Date : 2024-10-20DOI: 10.1111/1475-4932.12838
Alessio Rebechi, Nicholas Rohde, Gordon Anderson
{"title":"Inequality of Opportunity and the Probability of Being Very Rich or Very Poor","authors":"Alessio Rebechi, Nicholas Rohde, Gordon Anderson","doi":"10.1111/1475-4932.12838","DOIUrl":"https://doi.org/10.1111/1475-4932.12838","url":null,"abstract":"<p>This paper models the effects of individuals' background variables on the chances they end up in the extremes of the income distribution. Taking high-quality Australian panel data, we show that factors like the education of one's father have a much stronger impact on belonging to the top 1 per cent than they have on the conditional mean. Similarly, individuals from immigrant families are more likely to belong to both the left and the right tails of income distribution. Identifying the drivers of extreme incomes is important as individuals with very high incomes exert disproportionate political power, while those with very low incomes may drive prejudice and perceptions of disadvantage.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"101 332","pages":"76-100"},"PeriodicalIF":1.1,"publicationDate":"2024-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143612372","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic RecordPub Date : 2024-10-17DOI: 10.1111/1475-4932.12842
Adam Triggs
{"title":"Unexpected Revolutionaries: How Central Banks Made and Unmade Economic Orthodoxy, by Manuela Moschella (Cornell University Press)","authors":"Adam Triggs","doi":"10.1111/1475-4932.12842","DOIUrl":"https://doi.org/10.1111/1475-4932.12842","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"101 332","pages":"130-132"},"PeriodicalIF":1.1,"publicationDate":"2024-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143612496","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic RecordPub Date : 2024-10-14DOI: 10.1111/1475-4932.12841
Nga Pham
{"title":"Work, Retire, Repeat: The Uncertainty of Retirement in the New Economy, by Teresa Ghilarducci (University of Chicago Press, Chicago, 2024), pp. 260","authors":"Nga Pham","doi":"10.1111/1475-4932.12841","DOIUrl":"https://doi.org/10.1111/1475-4932.12841","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"100 331","pages":"573-575"},"PeriodicalIF":1.1,"publicationDate":"2024-10-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142868547","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic RecordPub Date : 2024-10-13DOI: 10.1111/1475-4932.12837
Alexander Emile D'Aloia
{"title":"Circular Economies in an Unequal World: Waste, Renewal, and the Effects of Global Circularity, by Patrick O'Hare and Dagna Rams (Editors) (Bloomsbury Academic, London, 2024), 240 pages + viii front matter","authors":"Alexander Emile D'Aloia","doi":"10.1111/1475-4932.12837","DOIUrl":"https://doi.org/10.1111/1475-4932.12837","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"100 331","pages":"583-585"},"PeriodicalIF":1.1,"publicationDate":"2024-10-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142868556","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic RecordPub Date : 2024-10-07DOI: 10.1111/1475-4932.12832
Wenqi Ai, Adam Butt, Gaurav Khemka
{"title":"Interaction Between Age Pension Means Testing and Innovative Income Streams in Australia*","authors":"Wenqi Ai, Adam Butt, Gaurav Khemka","doi":"10.1111/1475-4932.12832","DOIUrl":"https://doi.org/10.1111/1475-4932.12832","url":null,"abstract":"<p>We investigate the interaction between Age Pension means testing and innovative income streams in Australia, considering the use of an investment-linked annuity that allows a choice of drawdown level. We find that current means testing arrangements incentivise a very specific usage of investment-linked annuities that is not materially impacted by individual characteristics or fees, due to incoherencies across the income test and assets test. We investigate alternative means test structures, including a structure that includes only an income test and incorporates capital consumption by adjusting taper rates with age according to an annuitisation schedule. This structure removes the distortions impacting annuity usage, generates the most stable Age Pension over lifetime, encourages drawdown of assets over retirement and more accurately reflects the means of retirees to generate an income at each age.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"100 331","pages":"533-567"},"PeriodicalIF":1.1,"publicationDate":"2024-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12832","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142868405","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Children and the Gender Earnings Gap: Evidence for Australia*","authors":"Elif Bahar, Natasha Bradshaw, Nathan Deutscher, Maxine Montaigne","doi":"10.1111/1475-4932.12834","DOIUrl":"https://doi.org/10.1111/1475-4932.12834","url":null,"abstract":"<p>We estimate the impact of children on the gender earnings gap in Australia using an event study approach. We show that the arrival of children has a large and persistent impact on the gender earnings gap, reducing female annual earnings by 53 per cent, on average, in the first 5 years of parenthood. We attribute the gap in earnings to lower participation rates and reduced working hours among mothers, including a shift to part-time work. Although the decline in earnings for women is similar regardless of their breadwinner status prior to children, women with greater access to workplace flexibility are more likely to remain employed after having children.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"101 332","pages":"41-75"},"PeriodicalIF":1.1,"publicationDate":"2024-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12834","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143612435","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic RecordPub Date : 2024-09-27DOI: 10.1111/1475-4932.12833
Leigh Moran
{"title":"Trade-Offs: An Introduction to Economic Reasoning, Third Edition, by Harold Winter (The University of Chicago Press, Chicago and London, 2023), pp. 193","authors":"Leigh Moran","doi":"10.1111/1475-4932.12833","DOIUrl":"https://doi.org/10.1111/1475-4932.12833","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"100 331","pages":"575-576"},"PeriodicalIF":1.1,"publicationDate":"2024-09-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142869141","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic RecordPub Date : 2024-09-26DOI: 10.1111/1475-4932.12835
Mark Badger, Björn Dressel
{"title":"Statistics for Public Policy: A Practical Guide to Being Mostly Right (or At Least Respectably Wrong), by Jeremy G. Weber (University of Chicago Press, Chicago, IL, 2024), pp. 1–185","authors":"Mark Badger, Björn Dressel","doi":"10.1111/1475-4932.12835","DOIUrl":"https://doi.org/10.1111/1475-4932.12835","url":null,"abstract":"","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"100 331","pages":"578-581"},"PeriodicalIF":1.1,"publicationDate":"2024-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142869217","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic RecordPub Date : 2024-09-10DOI: 10.1111/1475-4932.12831
Kadir Atalay, Rebecca Edwards, Fang Han
{"title":"Lost in Transition: A Cohort Analysis of Catch-Up in Homeownership in Australia*","authors":"Kadir Atalay, Rebecca Edwards, Fang Han","doi":"10.1111/1475-4932.12831","DOIUrl":"10.1111/1475-4932.12831","url":null,"abstract":"<p>We study how housing market conditions shape the housing careers of Australians. Utilising data from the Australian Census spanning from 1991 to 2021, we observe significant differences in ownership rates at age 30 across birth cohorts. Moreover, these differences widen significantly as housing affordability falls. Using synthetic cohort techniques, we evaluate the persistence of these differences. Our results reveal that while the homeownership rates of younger cohorts ‘catch up’ somewhat with those of their older counterparts, a substantial gap remains at age 50. Early access to homeownership is also linked to the ownership of larger homes by middle age. Our study underscores the long-term consequences of housing market conditions on homeownership trajectories.</p>","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":"100 331","pages":"513-532"},"PeriodicalIF":1.1,"publicationDate":"2024-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1475-4932.12831","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142227058","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}