Illuminate the unknown: Evaluation of imputation procedures based on the SAVE Survey
AbstractQuestions about monetary variables (such as income, wealth or savings) are key components of questionnaires on household finances. However, missing information on such sensitive topics is a well-known phenomenon which can seriously bias any inference based only on complete cases analysis. Many imputation techniques have been developed and implemented in several surveys. Using the German SAVE data, this paper evaluates different techniques for the imputation of monetary variables implementing a simulation study, where a random pattern of missingness is imposed on the observed values of the variables of interest. New estimation techniques are necessary to overcome the upward bias of monetary variables caused by the initially implemented imputation procedure. A Monte-Carlo simulation based on the observed data shows the superiority of the newly implemented smearing estimate to construct the missing data structure. All waves are consistently imputed using the new method.
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Bibliographic InfoPaper provided by Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy in its series MEA discussion paper series with number 11235.
Date of creation: 22 Feb 2011
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Postal: Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy, Amalienstraße 33, 80799 München, Germany
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Other versions of this item:
- Michael Ziegelmeyer, 2013. "Illuminate the unknown: evaluation of imputation procedures based on the SAVE survey," AStA Advances in Statistical Analysis, Springer, vol. 97(1), pages 49-76, January.
- C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
- C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data
- C49 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Other
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-02-26 (All new papers)
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- Michael Ziegelmeyer & Julius Nick, 2012.
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