Over the last decade or so, a substantial effort has gone into the design of a series of methodological investigations aimed at enhancing the quality of survey data on income and wealth. These investigations have largely been conducted at the Survey Research Center at the University of Michigan,...

Over the last decade or so, a substantial effort has gone into the design of a series of methodological investigations aimed at enhancing the quality of survey data on income and wealth. These investigations have largely been conducted at the Survey Research Center at the University of Michigan,...

Second home equity is an important component of both housing equity and net worth for the old population. It has been covered, implicitly or explicitly, across all waves of HRS and AHEAD surveys. But due to a skip-pattern error, not all households with second homes were asked detailed questions...

A characteristic feature of survey data on household wealth is the high incidence of missing data roughly one in three respondents who report owning an asset are unable or unwilling to provide an estimate of the exact amount of their holding. A partial solution to that problem is to devise a...

Using a unique set of household level panel data, we estimate the effect of capital gains on saving by asset type, controlling for observable and unobservable household specific fixed effects. The results suggest that the decline in the personal saving rate since 1984 is largely due to the...

Focusing on the interconnections between the Basel regulatory capital formula and several well-specified statistical models, this working paper seeks to understand some of the important issues embedded in the Basel Accord. These include: Where does this formula come from? What risks does it try...

Focusing on the interconnections between the Basel regulatory capital formula and several well-specified statistical models, this working paper seeks to understand some of the important issues embedded in the Basel Accord. These include: Where does this formula come from? What risks does it try...

This article models respondent behavior in a financial survey with a framework explicitly integrating a respondent's knowledge of and willingness to reveal his or her financial status. Whether a respondent provides a valid answer, a quot;don't knowquot;, or a quot;refusalquot; to a financial...

This paper explores the relationship between household type and asset accumulation. Householders are distinguished principally along standard demographic lines--whether they marry, divorce, separate, or become widowed. Recently, new data have become available that place far more emphasis on the...