RT Journal Article
SR Electronic
T1 Enhancing the Quality of Data on Income
JF Journal of Human Resources
JO J Hum Resour
FD University of Wisconsin Press
SP 758
OP 772
DO 10.3368/jhr.XXXVIII.3.758
VO XXXVIII
IS 3
A1 Michael Hurd
A1 F. Thomas Juster
A1 James P. Smith
YR 2003
UL http://jhr.uwpress.org/content/XXXVIII/3/758.abstract
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.