To misreport or not to report? The measurement of household financial wealth
The objective of the paper is to adjust for the bias due to unit non-response and measurement error in survey estimates of total household financial wealth. Sample surveys are a useful source of information on household wealth. Yet, survey estimates are affected by non-sampling errors. In particular, in the case of household wealth, unit non-response and measurement error can severely bias the estimates. Using the Italian Survey on Household Income and Wealth (SHIW), we exploit the available auxiliary information in order to assess the magnitude of this bias. We find evidence that for this kind of survey, non-sampling errors are a major issue, possibly more serious than sampling errors. Moreover, in the case of SHIW the potential bias due to measurement error seems to outweigh that induced by non-response.
|Date of creation:||Jul 2012|
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- Leandro Dï¿½Aurizio & Ivan Faiella & Stefano Iezzi & Andrea Neri, 2006. "The under-reporting of financial wealth in the Survey on Household income and Wealth," Temi di discussione (Economic working papers) 610, Bank of Italy, Economic Research and International Relations Area.
- Emilia Bonaccorsi di Patti & Enrico Sette, 2012. "Bank balance sheets and the transmission of financial shocks to borrowers: evidence from the 2007-2008 crisis," Temi di discussione (Economic working papers) 848, Bank of Italy, Economic Research and International Relations Area.
- Ruppert,David & Wand,M. P. & Carroll,R. J., 2003. "Semiparametric Regression," Cambridge Books, Cambridge University Press, number 9780521780506.
- Ruppert,David & Wand,M. P. & Carroll,R. J., 2003. "Semiparametric Regression," Cambridge Books, Cambridge University Press, number 9780521785167.
- Claudia Biancotti & Giovanni D'Alessio & Andrea Neri, 2008. "Measurement Error In The Bank Of Italy'S Survey Of Household Income And Wealth," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 54(3), pages 466-493, 09.
- Giovanni D'Alessio & Ivan Faiella, 2002. "Non-response behaviour in the Bank of Italyï¿½s Survey of Household Income and Wealth," Temi di discussione (Economic working papers) 462, Bank of Italy, Economic Research and International Relations Area.
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