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Wealth, pensions, debt, and savings: Considerations for a panel survey

Author

Listed:
  • Brian Bucks

    (Consumer Financial Protection Bureau)

  • Karen Pence

    (Federal Reserve Board)

Abstract

Several U.S. panel surveys measure household wealth. At the same time, our understanding of many important aspects of household wealth accumulation remains incomplete. We argue that measurement error is one factor that limits the usefulness of the existing longitudinal surveys for research on wealth and savings. We review the features of wealth data that make it difficult to collect and assess which assets and debts households are more likely to report accurately. An examination of data from the Survey of Consumer Finances suggests that households find it particularly difficult to report the values of their pensions and businesses. We suggest several considerations in choosing between improving existing surveys and starting a new one.

Suggested Citation

  • Brian Bucks & Karen Pence, 2015. "Wealth, pensions, debt, and savings: Considerations for a panel survey," Journal of Economic and Social Measurement, IOS Press, issue 1-4, pages 151-175.
  • Handle: RePEc:ris:iosjes:0031
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    Cited by:

    1. Cristian Badarinza & John Y. Campbell & Tarun Ramadorai, 2016. "International Comparative Household Finance," Annual Review of Economics, Annual Reviews, vol. 8(1), pages 111-144, October.
    2. C. Badarinza & V. Balasubramaniam & T. Ramadorai, 2019. "The Household Finance Landscape in Emerging Economies," Annual Review of Financial Economics, Annual Reviews, vol. 11(1), pages 109-129, December.
    3. Marcin Wroński, 2023. "The Displacement Effects of Social Security Wealth in a Transition Economy: The Case of Poland," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 1, pages 19-40.
    4. Wroński, Marcin, . "Czy uprawnienia w publicznym systemie emerytalnym wypierają oszczędności w gospodarce okresu transformacji? Przypadek Polski," Gospodarka Narodowa-The Polish Journal of Economics, Szkoła Główna Handlowa w Warszawie / SGH Warsaw School of Economics, vol. 2023(1).

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    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values

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