IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

The under-reporting of financial wealth in the Survey on Household income and Wealth

  • Leandro D�Aurizio

    ()

    (Bank of Italy)

  • Ivan Faiella

    ()

    (Bank of Italy)

  • Stefano Iezzi

    ()

    (Bank of Italy)

  • Andrea Neri

    ()

    (Bank of Italy)

The sample estimates are uniformly below those of the Financial Accounts, even after harmonising all the definitions and the evaluation criteria. Such a problem can stem from the interviewee�s unwillingness to disclose the actual value of the asset (under-reporting). The paper presents a method to correct this potential source of bias in order to improve Survey of Household Income and Wealth financial assets. We use a sample survey of customers of the Unicredit group, coupled with administrative data on the assets actually owned, as external sources of information. The adjustment procedure enables to account for a large share of the gap between the figures derived from the sample and from the Financial accounts, significantly increasing the average value of the financial assets (inflating the unadjusted figure of 22.000 euros to 59.000 euros, amounting to about 85 percent of the Financial account estimates). The adjustment produces a larger correction for private bonds and mutual funds. The intensity of the correction is higher for one-person households, when the head of household is less educated or not employed, and it raises with his/her age.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.bancaditalia.it/pubblicazioni/temi-discussione/2006/2006-0610/tema_610.pdf
Download Restriction: no

Paper provided by Bank of Italy, Economic Research and International Relations Area in its series Temi di discussione (Economic working papers) with number 610.

as
in new window

Length:
Date of creation: Dec 2006
Date of revision:
Handle: RePEc:bdi:wptemi:td_610_06
Contact details of provider: Postal: Via Nazionale, 91 - 00184 Roma
Web page: http://www.bancaditalia.it

More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:bdi:wptemi:td_610_06. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.