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Imputing consumption from income and wealth information

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  • Martin Browning
  • S¯ren Leth-Petersen

Abstract

We investigate the feasibility of deriving a measure of total expenditure at the household level from administrative micro-data on income and wealth. We use Danish administrative data that provides measures of disposable income and the holding of different assets at the end of the year. The ability to link the households in the 1994-6 Danish Expenditure Survey to their administrative data for the years around the survey year offers a unique possibility for constructing a measure of total expenditure and of checking directly on the reliability of the imputation. The results are promising. Copyright 2003 Royal Economic Society.

Suggested Citation

  • Martin Browning & S¯ren Leth-Petersen, 2003. "Imputing consumption from income and wealth information," Economic Journal, Royal Economic Society, vol. 113(488), pages 282-301, June.
  • Handle: RePEc:ecj:econjl:v:113:y:2003:i:488:p:f282-f301
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    Cited by:

    1. Andreas Fagereng & Martin B. Holm & Gisle J. Natvik, 2016. "MPC heterogeneity and household balance sheets," Discussion Papers 852, Statistics Norway, Research Department.
    2. Giavazzi, Francesco & McMahon, Michael, 2008. "Policy Uncertainty and Precautionary Savings," CEPR Discussion Papers 6766, C.E.P.R. Discussion Papers.
    3. Salvador Navarro, 2011. "Using Observed Choices to Infer Agent's Information: Reconsidering the Importance of Borrowing Constraints, Uncertainty and Preferences in College Attendance," University of Western Ontario, Centre for Human Capital and Productivity (CHCP) Working Papers 20118, University of Western Ontario, Centre for Human Capital and Productivity (CHCP).
    4. Khorunzhina, Natalia, 2013. "Structural estimation of stock market participation costs," Journal of Economic Dynamics and Control, Elsevier, vol. 37(12), pages 2928-2942.
    5. repec:bla:obuest:v:79:y:2017:i:5:p:717-746 is not listed on IDEAS
    6. Andersen, Asger Lau & Duus, Charlotte & Jensen, Thais Lærkholm, 2016. "Household debt and spending during the financial crisis: Evidence from Danish micro data," European Economic Review, Elsevier, vol. 89(C), pages 96-115.
    7. Antoine Bozio & Guy Laroque & Cormac O’Dea, 2017. "Discount rate heterogeneity among older households: a puzzle?," Journal of Population Economics, Springer;European Society for Population Economics, vol. 30(2), pages 647-680, April.
    8. Andreas Fagereng & Elin Halvorsen, 2015. "Imputing consumption from Norwegian income and wealth registry data," Discussion Papers 831, Statistics Norway, Research Department.
    9. Paul Bingley & Gauthier Lanot, 2007. "Public Pension Programmes and the Retirement of Married Couples in Denmark," NBER Chapters,in: Public Policy and Retirement, Trans-Atlantic Public Economics Seminar (TAPES), pages 1878-1901 National Bureau of Economic Research, Inc.
    10. George M. Korniotis & Alok Kumar, 2008. "Do behavioral biases adversely affect the macro-economy?," Finance and Economics Discussion Series 2008-49, Board of Governors of the Federal Reserve System (U.S.).
    11. De Giorgi, Giacomo & Frederiksen, Anders & Pistaferri, Luigi, 2016. "Consumption Network Effects," IZA Discussion Papers 9983, Institute for the Study of Labor (IZA).
    12. repec:spr:jbecon:v:87:y:2017:i:5:d:10.1007_s11573-017-0853-9 is not listed on IDEAS
    13. Thomas F. Crossley & Joachim K. Winter, 2014. "Asking Households about Expenditures: What Have We Learned?," NBER Chapters,in: Improving the Measurement of Consumer Expenditures, pages 23-50 National Bureau of Economic Research, Inc.
    14. Martin Wittenberg, 2005. "Testing for a common latent variable in a linear regression: Or how to "fix" a bad variable by adding multiple proxies for it," SALDRU/CSSR Working Papers 132, Southern Africa Labour and Development Research Unit, University of Cape Town.
    15. Roine Vestman & Matilda Kilström & Josef Sigurdsson & Martin Floden, 2016. "Household Debt and Monetary Policy: Revealing the Cash-Flow Channel," 2016 Meeting Papers 1015, Society for Economic Dynamics.
    16. Søren Leth-Petersen, 2010. "Intertemporal Consumption and Credit Constraints: Does Total Expenditure Respond to an Exogenous Shock to Credit?," American Economic Review, American Economic Association, vol. 100(3), pages 1080-1103, June.
    17. Richard Blundell & Luigi Pistaferri & Ian Preston, 2004. "Imputing consumption in the PSID using food demand estimates from the CEX," IFS Working Papers W04/27, Institute for Fiscal Studies.
    18. David Autor & Andreas Ravndal Kostøl & Magne Mogstad & Bradley Setzler, 2017. "Disability benefits, consumption insurance, and household labor supply," Working Paper 2017/16, Norges Bank.
    19. José Casado, 2011. "From income to consumption: measuring households partial insurance," Empirical Economics, Springer, vol. 40(2), pages 471-495, April.
    20. Thomas H. Jørgensen, 2017. "Life-Cycle Consumption and Children: Evidence from a Structural Estimation," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 79(5), pages 717-746, October.
    21. repec:eso:journl:v:48:y:2017:i:2:p:171-205 is not listed on IDEAS

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