Financial Well-Being in an Urban Area: An Application of Multiple Imputation
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.
|Date of creation:||Jun 2007|
|Contact details of provider:|| Web page: http://www.mtsu.edu/~berc/working/Economics_Working_Papers.html|
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