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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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    References listed on IDEAS

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    1. Keith A. Bender, 2004. "The Well-Being of Retirees: Evidence Using Subjective Data," Working Papers, Center for Retirement Research at Boston College wp2004-24, Center for Retirement Research.
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    Cited by:

    1. repec:spr:jhappi:v:19:y:2018:i:1:d:10.1007_s10902-016-9799-9 is not listed on IDEAS
    2. Maksim Belitski & Julia Korosteleva, 2011. "Entrepreneurial activity across European cities," ERSA conference papers ersa10p1646, European Regional Science Association.

    More about this item

    Keywords

    subjective well-being; financial well-being; multiple imputation;

    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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