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Financial Well-Being in an Urban Area: An Application of Multiple Imputation

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  • David A. Penn

Abstract

A growing number of studies investigate the determinants of happiness, or subjective well-being. Few, however, specifically examine the financial aspects of subjective well-being. This study estimates the determinants of subjective financial wellbeing (SWB) for a city in the American Southwest. The results show that income, health insurance, home ownership, and children at home have significant impacts on financial well-being. Missing survey values are estimated using multiple imputation; model results with and without imputed data are compared. Estimates from the complete case model show bias compared with the multiple imputation model. Home ownership and children at home are important predictors of financial well-being in the multiple imputation model but not the complete cases model.

Suggested Citation

  • David A. Penn, 2007. "Financial Well-Being in an Urban Area: An Application of Multiple Imputation," Working Papers 200708, Middle Tennessee State University, Department of Economics and Finance.
    • Handle: RePEc:mts:wpaper:200708
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    File URL: http://capone.mtsu.edu/berc/working/appliedeconomics4.pdf
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    Cited by:

    1. Junji Kageyama & Tsukasa Matsuura, 2018. "The Financial Burden of Having Children and Fertility Differentials Across Development and Life Stages: Evidence from Satisfaction Data," Journal of Happiness Studies, Springer, vol. 19(1), pages 1-26, January.
    2. Maksim Belitski & Julia Korosteleva, 2011. "Entrepreneurial activity across European cities," ERSA conference papers ersa10p1646, European Regional Science Association.
    3. Amany A. El Anshasy & Mrittika Shamsuddin & Marina-Selini Katsaiti, 2023. "Financial Wellbeing and International Migration Intentions: Evidence from Global Surveys," Journal of Happiness Studies, Springer, vol. 24(7), pages 2261-2289, October.
    4. Ifra Bashir & Ishtiaq Hussain Qureshi, 2023. "A Systematic Literature Review on Personal Financial Well-Being: The Link to Key Sustainable Development Goals 2030," FIIB Business Review, , vol. 12(1), pages 31-48, March.
    5. Vieira, Kelmara Mendes & Potrich, Ani Caroline Grigion & Bressan, Aureliano Angel & Klein, Leander Luiz, 2021. "Loss of financial well-being in the COVID-19 pandemic: Does job stability make a difference?," Journal of Behavioral and Experimental Finance, Elsevier, vol. 31(C).
    6. Mahendru, Mandeep & Sharma, Gagan Deep & Pereira, Vijay & Gupta, Mansi & Mundi, Hardeep Singh, 2022. "Is it all about money honey? Analyzing and mapping financial well-being research and identifying future research agenda," Journal of Business Research, Elsevier, vol. 150(C), pages 417-436.

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    Keywords

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    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • C42 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Survey Methods

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