Illuminate the unknown : evaluation of imputation procedures based on the save survey

Ziegelmeyer, Michael

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URN: urn:nbn:de:bsz:180-madoc-30807
Document Type: Working paper
Year of publication: 2011
The title of a journal, publication series: None
Publication language: English
Institution: School of Law and Economics > Sonstige - Fakultät für Rechtswissenschaft und Volkswirtschaftslehre
MADOC publication series: Veröffentlichungen des MEA (Mannheim Research Institute For the Economics of Aging) > MEA Discussion Papers
Subject: 330 Economics
Classification: JEL: C49 C81 C01 ,
Subject headings (SWD): Privatvermögen , Umfrage , Monte-Carlo-Simulation
Keywords (English): Imputation methods , Monte-Carlo simulation , imputation evaluatin , item-nonresponse , missing data , imputation , retransformation , sample surveys
Abstract: Questions about monetary variables (such as income, wealth or savings) are key components of questionnaires on household finances. However, missing information on such sensitive topics is a well-known phenomenon which can seriously bias any inference based only on complete cases analysis. Many imputation techniques have been developed and implemented in several surveys. Using the Germna SAVE data, this paper evaluates different techniques for the imputation on monetary variabels implementing a simulation study, where a random pattern of missingness is imposed on the obeserved values of the variables of interest. New estimation techniques are necessary to overcome the upward bias of monetary variables caused by the initially implemented imputation procedure. A Monte-Carlo simulation based on the observed data shows the superiority of the newly impelemented smearing estimate to construct the missing data structure. All waves are constistently imputed using the new method.
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