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Private and public consumption across generations in Australia
Author(s) -
Rice James M,
Temple Jeromey B,
McDonald Peter F
Publication year - 2017
Publication title -
australasian journal on ageing
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.63
H-Index - 34
eISSN - 1741-6612
pISSN - 1440-6381
DOI - 10.1111/ajag.12489
Subject(s) - consumption (sociology) , private consumption , environmental health , business , economics , medicine , sociology , social science , fiscal policy , macroeconomics
Objective To investigate intergenerational equity in consumption using the Australian National Transfer Accounts ( NTA ). Methods Australian NTA estimates of consumption were used to investigate disparities in consumption between people of different ages and generations in Australia between 1981–1982 and 2009–2010. Results There is a clear patterning of consumption by age, with the distribution by age of consumption funded by the private sector being very different to that of consumption funded by the public sector. Australians have achieved notable equality in total consumption among people between the ages of 20 and 75 years. Substantial disparities exist, however, between different generations, with earlier generations experiencing lower levels of total consumption in real terms at particular ages than later generations. Conclusion An accurate picture of intergenerational equity in consumption requires consideration of both cohorts and cross sections, as well as consumption funded by both the public and the private sectors.