|Title||Reducing cross-wave variability in survey measures of household wealth|
|Publication Type||Journal Article|
|Year of Publication||2020|
|Authors||Hurd, MD, Meijer, E, Moldoff, M, Rohwedder, S|
|Journal||Journal of Economic and Social Measurement|
|Keywords||household income, Panel data, social structure, survey design, United States|
Survey measures of household wealth often incorporate measurement error. The resulting excess variability in the first difference in wealth makes meaningful statistical inference difficult on changes in household-level wealth. We study the effects of two methods intended to reduce this problem: Asset verification confronts respondents with large discrepancies between wealth reports from the current wave and from the previous wave. Cross-wave imputation uses adjacent wave information in the imputation procedures for missing data. In the U.S. Health and Retirement Study, the corrections from asset verification substantially reduced wave-To-wave changes in wealth. The cross-wave imputations also reduced variation, but to a lesser extent. © 2019-IOS Press and the authors. All rights reserved.
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