Journal
OXFORD BULLETIN OF ECONOMICS AND STATISTICS
Volume 72, Issue 5, Pages 687-695Publisher
WILEY-BLACKWELL
DOI: 10.1111/j.1468-0084.2010.00599.x
Keywords
C33; J64
Funding
- Marsden Fund [UOW0504]
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Applied microeconomic researchers are beginning to use long-term retrospective survey data in settings where conventional longitudinal survey data are unavailable. However, inaccurate long-term recall could induce non-classical measurement error, for which conventional statistical corrections are less effective. In this article, we use the unique Panel Study of Income Dynamics Validation Study to assess the accuracy of long-term retrospective recall data. We find underreporting of transitory variation which creates a non-classical measurement error problem.
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