Measuring wealth and wealth inequality: Comparing two U.S. surveys
| Autor: | Patricia M. Andreski, Fabian T. Pfeffer, Arthur B. Kennickell, Robert F. Schoeni |
|---|---|
| Rok vydání: | 2016 |
| Předmět: |
Labour economics
030505 public health Inequality business.industry media_common.quotation_subject 05 social sciences Net worth Public debate General Social Sciences Distribution (economics) Relative strength Article 03 medical and health sciences Panel Study of Income Dynamics Income inequality metrics 0502 economics and business Economics Demographic economics 050207 economics 0305 other medical science business Wealth concentration media_common |
| Zdroj: | Journal of Economic and Social Measurement. 41:103-120 |
| ISSN: | 1875-8932 0747-9662 |
| DOI: | 10.3233/jem-160421 |
| Popis: | Household wealth and its distribution are topics of broad public debate and increasing scholarly interest. We compare the relative strength of two of the main data sources used in research on the wealth holdings of U.S. households, the Survey of Consumer Finances (SCF) and the Panel Study of Income Dynamics (PSID), by providing a description and explanation of differences in the level and distribution of wealth captured in these two surveys. We identify the factors that account for differences in average net worth but also show that estimates of net worth are similar throughout most of the distribution. Median net worth in the SCF is 6% higher than in the PSID and the largest differences between the two surveys are concentrated in the 1-2 percent wealthiest households, leading to a different view of wealth concentration at the very top but similar results for wealth inequality across most of the distribution. |
| Databáze: | OpenAIRE |
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