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Income and wealth sample estimates consistent with macro aggregates: some experiments

Author

Listed:
  • Giovanni D'Alessio

    () (Bank of Italy)

  • Andrea Neri

    () (Bank of Italy)

Abstract

The Bank of Italy�s Survey of Household Income and Wealth (SHIW) is widely used to study the economic behavior of Italian households. Like most similar surveys, the SHIW is biased downward in its estimates by the lesser propensity of wealthy families to participate and by the tendency to underreport income and wealth. This work assesses the various techniques for correct the bias, applying them to the period 1995-2012. Calibration techniques, which produce estimates consistent with the macro-economic information available from other sources, are also employed.

Suggested Citation

  • Giovanni D'Alessio & Andrea Neri, 2015. "Income and wealth sample estimates consistent with macro aggregates: some experiments," Questioni di Economia e Finanza (Occasional Papers) 272, Bank of Italy, Economic Research and International Relations Area.
  • Handle: RePEc:bdi:opques:qef_272_15
    as

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    File URL: http://www.bancaditalia.it/pubblicazioni/qef/2015-0272/QEF_272.pdf?language_id=1
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    References listed on IDEAS

    as
    1. Andrea Brandolini, 1999. "The Distribution of Personal Income in Post-War Italy: Source Description, Data Quality, and the Time Pattern of Income Inequality," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 58(2), pages 183-239, September.
    2. Kott, Phillip S. & Chang, Ted, 2010. "Using Calibration Weighting to Adjust for Nonignorable Unit Nonresponse," Journal of the American Statistical Association, American Statistical Association, vol. 105(491), pages 1265-1275.
    3. Luigi Cannari & G. D'Alessio, 2002. "La distribuzione del reddito e della ricchezza nelle regioni italiane," Rivista economica del Mezzogiorno, Società editrice il Mulino, issue 4, pages 809-848.
    4. repec:mpr:mprres:4780 is not listed on IDEAS
    5. Andrea Neri & Maria Giovanna Ranalli, 2012. "To misreport or not to report? The measurement of household financial wealth," Temi di discussione (Economic working papers) 870, Bank of Italy, Economic Research and International Relations Area.
    6. repec:mpr:mprres:4937 is not listed on IDEAS
    7. Andrea Neri & Roberta Zizza, 2010. "Income reporting behaviour in sample surveys," Temi di discussione (Economic working papers) 777, Bank of Italy, Economic Research and International Relations Area.
    8. Giovanni D�Alessio & Stefano Iezzi, 2015. "How the time of interviews affects estimates of income and wealth," Questioni di Economia e Finanza (Occasional Papers) 273, Bank of Italy, Economic Research and International Relations Area.
    9. Erik Hurst & Geng Li & Benjamin Pugsley, 2014. "Are Household Surveys Like Tax Forms? Evidence from Income Underreporting of the Self-Employed," The Review of Economics and Statistics, MIT Press, vol. 96(1), pages 19-33, March.
    10. Giovanni D'Alessio & Ivan Faiella, 2002. "Non-response behaviour in the Bank of Italy�s Survey of Household Income and Wealth," Temi di discussione (Economic working papers) 462, Bank of Italy, Economic Research and International Relations Area.
    11. Pissarides, Christopher A. & Weber, Guglielmo, 1989. "An expenditure-based estimate of Britain's black economy," Journal of Public Economics, Elsevier, vol. 39(1), pages 17-32, June.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. repec:ijm:journl:v10:y:2017:i:1:p:39-72 is not listed on IDEAS
    2. repec:eee:jimfin:v:85:y:2018:i:c:p:215-235 is not listed on IDEAS
    3. repec:jid:journl:y:2017:v:25:i:1:p:1-27 is not listed on IDEAS
    4. Luigi Cannari & Giovanni D’Alessio, 2018. "Wealth inequality in Italy: reconstruction of 1968-75 data and comparison with recent estimates," Questioni di Economia e Finanza (Occasional Papers) 428, Bank of Italy, Economic Research and International Relations Area.
    5. Casiraghi, Marco & Gaiotti, Eugenio & Rodano, Lisa & Secchi, Alessandro, 2018. "A “reverse Robin Hood”? The distributional implications of non-standard monetary policy for Italian households," Journal of International Money and Finance, Elsevier, vol. 85(C), pages 215-235.
    6. Giovanni D'Alessio & Stefano Iezzi, 2016. "Over-indebtedness in Italy: how widespread and persistent is it?," Questioni di Economia e Finanza (Occasional Papers) 319, Bank of Italy, Economic Research and International Relations Area.

    More about this item

    Keywords

    income; wealth; household; calibration;

    JEL classification:

    • D10 - Microeconomics - - Household Behavior - - - General
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution

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