Improving the Measurement of Consumer Expenditures
Christopher D. Carroll, Thomas F. Crossley, John Sabelhaus
University of Chicago Press, Jun 16, 2015 - Business & Economics - 504 pages
Robust and reliable measures of consumer expenditures are essential for analyzing aggregate economic activity and for measuring differences in household circumstances. Many countries, including the United States, are embarking on ambitious projects to redesign surveys of consumer expenditures, with the goal of better capturing economic heterogeneity. This is an appropriate time to examine the way consumer expenditures are currently measured, and the challenges and opportunities that alternative approaches might present.
Improving the Measurement of Consumer Expenditures begins with a comprehensive review of current methodologies for collecting consumer expenditure data. Subsequent chapters highlight the range of different objectives that expenditure surveys may satisfy, compare the data available from consumer expenditure surveys with that available from other sources, and describe how the United States’s current survey practices compare with those in other nations.
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Introduction Christopher D Carroll Thomas F Crossley and John Sabelhaus
I What Do We Already Know about Collecting Household Expenditure Data?
II Goals for the Expenditure Survey Redesign
III Evaluating the Existing CE Survey
IV Alternative Approaches to Data Collection
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active saving adjusted aggregate analysis assets Attanasio average balance edit Battistin budget shares budget survey Bureau of Labor cars chapter collected comparable comparisons Consumer Expenditure Survey Consumer Price Index consumer units consumption inequality consumption measures coverage rates CPI-U Crossley data sets debit cards demand system demographic diary survey distribution Engel curves estimates example expenditure data figure housing imputed income inequality increase interview survey Kantar data kSEK Labor Statistics measurement error median nondurable nonresponse observations panel data participants payments PCE-ADJ percent level percentile PSID purchases questions ratio recall period reconciliation screen reference period registry registry-based consumption regression reported respondents response rates sample scanner data specific standard deviation Statistics Canada Statistics Sweden survey data Table tion total expenditure typical underreporting variables vehicles wealth change week weights zip code