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Activity Number: 376 - Challenges in Measuring Consumption
Type: Topic Contributed
Date/Time: Wednesday, August 10, 2022 : 8:30 AM to 10:20 AM
Sponsor: Committee on Energy Statistics
Abstract #322340
Title: Getting Time and Expenditure Together: Evaluating Imputation Methods for the Creation of Synthetic Data
Author(s): Fernando Rios-Avila and Thomas Masterson*
Companies: Levy Economics Institute and Levy Economics Institute
Keywords: Time use; Expenditure; Imputation; Data Fusion
Abstract:

There is an increasing need for the creation of comprehensive measures of household consumption for the U.S., especially measures that consider how families allocate their time into household production.

While there is access to high-quality data on expenditures (Consumer Expenditure Survey – CE) and time data (American Time Use Survey - ATUS), the availability of joint time and expenditure data is limited.

This motivates the need for the creation of synthetic datasets that combine information from the CE and ATUS. This synthetic dataset could be used to construct comprehensive consumption measures, and to analyze the interaction between expenditure and time spent on household production.

In this paper, we use data from the PSID to evaluate the potential benefits and limitations of three imputation approaches for the creation of this type of synthetic dataset: a) Statistical matching, where individuals are linked to statistically similar observations, b) conditional mean imputation, where imputations are obtained based on the predictions from parametric modeling, and c) stochastic imputation, which aims to account for the error component in the imputation process.


Authors who are presenting talks have a * after their name.

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