Using Expectations Data to Study Subjective Income Expectations / Jeff Dominitz, Charles F. Manski.

Format:

Book

Author/Creator:

Dominitz, Jeff.

Contributor:

National Bureau of Economic Research.

Manski, Charles F.

Series:

Working Paper Series (National Bureau of Economic Research) no. w4937.

NBER working paper series no. w4937

Language:

English

Subjects (All):

Income forecasting.

Interest rates--Mathematical models.

Interest rates.

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1994.

Cambridge, Massachusetts : National Bureau of Economic Research, 1994.

Summary:

We have collected data on the one-year-ahead income expectations of members of American households in our Survey of Economic Expectations (SEE), a module of a national continuous telephone survey conducted at the University of Wisconsin. The income-expectations questions take this form: `What do you think is the percent chance (or what are the chances out of 100) that your total household income, before taxes, will be less than Y over the next 12 months?' We use the responses to a sequence of such questions posed for different income thresholds Y to estimate each respondent's subjective probability distribution for next year's household income. We use the estimates to study the cross-sectional variation in income expectations for one year into the future.

Notes:

Print version record

November 1994.