Integrated Household Surveys: An Assessment of U.S. Methods and an Innovation

65 Pages Posted: 29 Sep 2017

See all articles by Krislert Samphantharak

Krislert Samphantharak

University of California, San Diego - School of Global Policy and Strategy

Scott D. Schuh

Federal Reserve Bank of Boston - Research Department

Robert M. Townsend

Massachusetts Institute of Technology (MIT)

Date Written: 2017-05-22

Abstract

We present a vision for improving household financial surveys by integrating responses from questionnaires more completely with financial statements and combining them with payments data from diaries. Integrated household financial accounts—-balance sheet, income statement, and statement of cash flows—-are used to assess the degree of integration in leading U.S. household surveys, focusing on inconsistencies in measures of the change in cash. Diaries of consumer payment choice can improve dynamic integration. Using payments data, we construct a statement of liquidity flows: a detailed analysis of currency, checking accounts, prepaid cards, credit cards, and other payment instruments, consistent with conventional cash-flows measures and the other financial accounts.

Keywords: surveys, diaries, payments, financial statements, cash flows

JEL Classification: D12, D14, E41, E42

Suggested Citation

Samphantharak, Krislert and Schuh, Scott and Townsend, Robert M., Integrated Household Surveys: An Assessment of U.S. Methods and an Innovation (2017-05-22). FRB of Boston Working Paper No. 17-7. Available at SSRN: https://ssrn.com/abstract=3044345

Krislert Samphantharak (Contact Author)

University of California, San Diego - School of Global Policy and Strategy ( email )

9500 Gilman Drive
La Jolla, CA 92093-0519
United States
858-534-3939 (Fax)

Scott Schuh

Federal Reserve Bank of Boston - Research Department ( email )

600 Atlantic Ave.
Boston, MA 02210
United States
617-973-3941 (Phone)
617-619-7541 (Fax)

Robert M. Townsend

Massachusetts Institute of Technology (MIT) ( email )

77 Massachusetts Avenue
50 Memorial Drive
Cambridge, MA 02139-4307
United States

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