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INTEGRATED HOUSEHOLD SURVEYS: AN ASSESSMENT OF U.S. METHODS AND AN INNOVATION
Author(s) -
Samphantharak Krislert,
Schuh Scott,
Townsend Robert M.
Publication year - 2018
Publication title -
economic inquiry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.823
H-Index - 72
eISSN - 1465-7295
pISSN - 0095-2583
DOI - 10.1111/ecin.12489
Subject(s) - cash flow statement , balance sheet , market liquidity , payment , income statement , economics , currency , cash flow , financial statement , cash , financial analysis , actuarial science , business , finance , accounting , monetary economics , audit
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 flow measures and the other financial accounts. ( JEL D12, D14, E41, E42)