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Research ArticleArticles

Enhancing the Quality of Data on Income

Recent Innovations from the HRS

Michael Hurd, F. Thomas Juster and James P. Smith
Journal of Human Resources, July 2003, XXXVIII (3) 758-772; DOI: https://doi.org/10.3368/jhr.XXXVIII.3.758
Michael Hurd
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F. Thomas Juster
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James P. Smith
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Abstract

This paper evaluates two survey innovations introduced in the HRS that aimed to improve income measurement. The innovations are (1) the integration of questions for income and wealth and (2) matching the periodicity over which income questions are asked to the typical way such income is received. Both innovations had significant impacts in improving the quality of income reports. For example, the integration of income questions into the asset module produced in HRS an across-wave 63 percent increase in the amount of income derived from financial assets, real estate investments and farm and business equity. Similarly, asking respondents to answer using a time interval consistent with how income is received substantially improved the quality of reports on social security income. Fortunately, we also suggest ways that these innovations can be introduced into other major social science surveys.

  • Received September 2000.
  • Accepted October 2001.

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Journal of Human Resources
Vol. XXXVIII, Issue 3
1 Jul 2003
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Enhancing the Quality of Data on Income
Michael Hurd, F. Thomas Juster, James P. Smith
Journal of Human Resources Jul 2003, XXXVIII (3) 758-772; DOI: 10.3368/jhr.XXXVIII.3.758

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Enhancing the Quality of Data on Income
Michael Hurd, F. Thomas Juster, James P. Smith
Journal of Human Resources Jul 2003, XXXVIII (3) 758-772; DOI: 10.3368/jhr.XXXVIII.3.758
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