Using Expectations Data to Study Subjective Income Expectations

Jeff Dominitz and Charles Manski

Econometrics from University Library of Munich, Germany

Abstract: We have collected data on the one-year-ahead income expectations of members of American households in our Survey of Economic Expectations (SEE), a module of a national continuous telephone survey conducted at the University of Wisconsin. The income- expectations questions take this form: "What do you think is the percent chance (or what are the chances out of 100) that your total household income, before taxes, will be less than Y over the next 12 months?" We use the responses to a sequence of such questions posed for different income thresholds Y to estimate each respondent's subjective probability distribution for next year's household income. We use the estimates to study the cross-sectional variation in income expectations one year into the future.

JEL-codes: C1 C2 C3 C4 C5 C8 (search for similar items in EconPapers)
Date: 1994-11-16
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Citations: View citations in EconPapers (32)

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Related works:
Working Paper: Using Expectations Data to Study Subjective Income Expectations (1994)
Working Paper: Using expectations data to study subjective income expectations
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpem:9411003

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