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Improving the Quality of Economic Data: Lessons from the HRS and AHEAD

Author

Listed:
  • F. Thomas Juster

    (University of Michigan)

  • James P. Smith

    (RAND)

Abstract

Missing data are an increasingly important problem in economic surveys, especially when trying to measure household wealth. However, some relatively simple new survey methods such as follow-up brackets appear to appreciably improve the quality of household economic data. Brackets represent partial responses to asset questions and apparently significantly reduce item nonresponse. Brackets also provide a remedy to deal with nonignorable nonresponse bias, a critical problem with economic survey data.

Suggested Citation

  • F. Thomas Juster & James P. Smith, 2004. "Improving the Quality of Economic Data: Lessons from the HRS and AHEAD," Labor and Demography 0402010, University Library of Munich, Germany.
  • Handle: RePEc:wpa:wuwpla:0402010
    Note: Type of Document - pdf; pages: 11. Journal of the American Statistical Association, Vol. 92, No. 440, 1997, pp. 1268-1278.
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/lab/papers/0402/0402010.pdf
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    References listed on IDEAS

    as
    1. Richard T. Curtin & Thomas Juster & James N. Morgan, 1989. "Survey Estimates of Wealth: An Assessment of Quality," NBER Chapters, in: The Measurement of Saving, Investment, and Wealth, pages 473-552, National Bureau of Economic Research, Inc.
    2. Hurd, Michael D, 1990. "Research on the Elderly: Economic Status, Retirement, and Consumption and Saving," Journal of Economic Literature, American Economic Association, vol. 28(2), pages 565-637, June.
    3. F. Thomas Juster & Kathleen A. Kuester, 1991. "Differences In The Measurement Of Wealth, Wealth Inequality And Wealth Composition Obtained From Alternative U.S. Wealth Surveys," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 37(1), pages 33-62, March.
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