Backward imputation of financial household wealth

  • Lara Evertsen Lara Evertsen

This paper outlines a method to impute previous panel waves of checking and savings accounts and risky assets. The imputations are based on data on tax records, interest incomes and dividend returns for the waves to be imputed. Furthermore, future waves of the panel are used. In the imputation, household specific effects and autocorrelation in the error terms are taken into account. The imputation method is evaluated in two ways. First, the imputation is implemented for a wave where the actual values are known.The imputed values closely follow the actual distribution and the correlations between the imputed and actual variables are high. Next, the imputation is realized for the unknown waves. The distributions in each wave are compared with later known waves and externaldata. Cohort effects and ownerships rates are analyzed as well. The imputation method seems to work quite well.

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