NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Publications by Roine Vestman

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July 2014Judging the Quality of Survey Data by Comparison with “Truth” as Measured by Administrative Records: Evidence From Sweden
with Ralph Koijen, Stijn Van Nieuwerburgh
in Improving the Measurement of Consumer Expenditures, Christopher Carroll, Thomas Crossley, and John Sabelhaus, editors
We construct a new consumption measure as a residual from the budget constraint. Consumption is that part of income that is not used to increase assets. Our measurement relies on detailed Swedish registry data on the various sources of income and the composition of households' asset portfolio, collected as part of the tax assessment process. The richness of the data allows us to impute a household-specific portfolio return, which is important to arrive at an accurate consumption measure with our method. We match the Swedish households that are surveyed with a standard European Household Budget Survey to our data set, allowing a detailed comparison of the two consumption measures. We find that the survey-based measures understate consumption for home-owners, high-income, and high-wealth hou...

Contact and additional information for this authorAll NBER papers and publicationsNBER Working Papers only

 
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