PT  - JOURNAL ARTICLE
AU  - Hurd, Michael
AU  - Juster, F. Thomas
AU  - Smith, James P.
TI  - Enhancing the Quality of Data on Income
AID  - 10.3368/jhr.XXXVIII.3.758
DP  - 2003 Jul 01
TA  - Journal of Human Resources
PG  - 758--772
VI  - XXXVIII
IP  - 3
4099  - http://jhr.uwpress.org/content/XXXVIII/3/758.short
4100  - http://jhr.uwpress.org/content/XXXVIII/3/758.full
SO  - J Hum Resour2003 Jul 01; XXXVIII
AB  - 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.