Retrospective Reporting of Household Wealth: Evidence From the 1983–1989 Survey of Consumer Finances
利用1983-1989年消费者金融调查数据,检验家庭回顾性报告资产变化的可靠性,发现报告的投资与实测变动存在显著不一致,对房产等突出交易误差较小,对金融资产等汇总项目误差较大。
One way to obtain panel-like information on household wealth is to ask households about changes in their asset holdings. Yet the reliability of retrospective data is unclear, considering the potential for recall error. This article examines the reliability of retrospective reporting, using data from the 1983–1989 Survey of Consumer Finances. We find substantial inconsistencies between reported net investments in assets with measured changes in holdings. Inconsistencies are less severe for salient transactions like home sales and more severe for aggregated items like financial assets.