Increases in Wealth Among the Elderly in the Early 1990s: How Much is Due to Survey Design?

24 Pages Posted: 28 Oct 2004 Last revised: 7 Sep 2022

See all articles by Susann Rohwedder

Susann Rohwedder

RAND Corporation

Steven J. Haider

Michigan State University - Department of Economics; IZA Institute of Labor Economics

Michael D. Hurd

RAND Corporation; State University of New York at Stony Brook - College of Arts and Science - Department of Economics; National Bureau of Economic Research (NBER)

Date Written: November 2004

Abstract

The Asset and Health Dynamics Among the Oldest Old (AHEAD) study shows a large increase in reported total wealth between 1993 and 1995. Such an increase is not found in other US household surveys around that period. This paper examines one source of this difference. We find that in AHEAD 1993 ownership rates of stocks, CDs, bonds, and checking and saving accounts were under-reported, resulting in under-measurement of wealth in 1993, and a substantial increase in wealth from 1993 to 1995. The explanation for the under-reporting is a combination of question sequence and wording in the AHEAD survey instrument.

Suggested Citation

Rohwedder, Susann and Haider, Steven J. and Hurd, Michael D., Increases in Wealth Among the Elderly in the Early 1990s: How Much is Due to Survey Design? (November 2004). NBER Working Paper No. w10862, Available at SSRN: https://ssrn.com/abstract=612063

Susann Rohwedder

RAND Corporation ( email )

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Steven J. Haider

Michigan State University - Department of Economics ( email )

East Lansing, MI 48824
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IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

Michael D. Hurd (Contact Author)

RAND Corporation ( email )

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State University of New York at Stony Brook - College of Arts and Science - Department of Economics ( email )

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United States

National Bureau of Economic Research (NBER)

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