Methodological issues in the estimation of the size distribution of household wealth

Edward Wolff

    Research output: Contribution to journalArticle

    Abstract

    Two issues are addressed. First, in regard to the proper measure of wealth,current marketable wealth, expected lifetime resources, financial wealth, family wealth, per capita wealth, and equivalence-adjusted wealth can all be appropriate for different purposes. Time trends are found to differ considerably among alternative wealth indices. Second, in regard to the construction of a reliable time-series from different sources, estimates of the size distribution of household wealth are found to be quite sensitive to the sampling frame (because of the skewness of the distribution), to the accounting framework, to patterns of response error (because of portfolio variation with wealth class), and to observational unit.

    Original languageEnglish (US)
    Pages (from-to)179-195
    Number of pages17
    JournalJournal of Econometrics
    Volume43
    Issue number1-2
    DOIs
    StatePublished - 1990

    Fingerprint

    Skewness
    Time series
    Lifetime
    Equivalence
    Sampling
    Resources
    Unit
    Alternatives
    Estimate
    Family
    Class
    Framework
    Trends
    Wealth
    Household wealth
    Household

    ASJC Scopus subject areas

    • Economics and Econometrics
    • Applied Mathematics
    • History and Philosophy of Science

    Cite this

    Methodological issues in the estimation of the size distribution of household wealth. / Wolff, Edward.

    In: Journal of Econometrics, Vol. 43, No. 1-2, 1990, p. 179-195.

    Research output: Contribution to journalArticle

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