EconPapers    
Economics at your fingertips  
 

Rank correction: a new approach to differential nonresponse in wealth survey data

Rafael Wildauer () and Jakob Kapeller ()

No PKWP1921, Working Papers from Post Keynesian Economics Society (PKES)

Abstract: This paper is concerned with the problem of modelling the tail of the wealth distribution with survey data in the context of differential nonresponse. In order to deal with the problem post data collection, it is standard practice to combine wealth survey data with observations from rich lists and then fit a Pareto tail. In contrast, our approach does not require information about individual wealth holdings from rich lists and is thus applicable in situations where such information is not available. Applying the procedure to wealth survey data (HFCS, SCF, WAS) yields estimates of top wealth shares, which are closely in line with estimates from the World Inequality Database and thus represent a likely improvement over the raw survey data.

Keywords: differential nonresponse; Pareto tail; post data collection; survey data; wealth distribution (search for similar items in EconPapers)
JEL-codes: C46 C81 D31 (search for similar items in EconPapers)
Pages: 24
Date: 2019-11
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed

Downloads: (external link)
http://www.postkeynesian.net/downloads/working-papers/PKWP1921.pdf First version, 2019 (application/pdf)

Related works:
Working Paper: Rank Correction: A New Approach to Differential Nonresponse in Wealth Survey Data (2019) Downloads
Working Paper: Rank Correction: A New Approach to Differential Non-Response in Wealth Survey Data (2019) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pke:wpaper:pkwp1921

Access Statistics for this paper

More papers in Working Papers from Post Keynesian Economics Society (PKES) Contact information at EDIRC.
Bibliographic data for series maintained by Jo Michell ().

 
Page updated 2020-09-16
Handle: RePEc:pke:wpaper:pkwp1921