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Computing population weights for the EFH survey

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  • Carlos Madeira

Abstract

This paper shows the trade-off between bias and variance in the choice of expansion factors for the Chilean Financial Household Survey (EFH) using the 2007 wave. The alternatives are based on a full poststratification procedure using as strata different groups of Chilean geographical regions, the wealth of each town, and the income level of each household. I find that expansion factors based on a small number of strata can accurately represent the age, education and income distribution of Chile with little bias and variance involved. The best alternative also served as basis for the population weights of the EFH waves in 2008, 2009, 2010 and 2011.

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  • Carlos Madeira, 2019. "Computing population weights for the EFH survey," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 22(1), pages 004-026, April.
    • Handle: RePEc:chb:bcchec:v:22:y:2019:i:1:p:004-026
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    References listed on IDEAS

    as
    1. Madeira, Carlos, 2019. "The impact of interest rate ceilings on households’ credit access: Evidence from a 2013 Chilean legislation," Journal of Banking & Finance, Elsevier, vol. 106(C), pages 166-179.
    2. Ivan Faiella & Romina Gambacorta, 2007. "The Weighting Process in the SHIW," Temi di discussione (Economic working papers) 636, Bank of Italy, Economic Research and International Relations Area.
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    6. Jaime Ruiz‐Tagle & Francis Vella, 2016. "Borrowing Constraints and Credit Demand in a Developing Economy," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 31(5), pages 865-891, August.
    7. Carlos Madeira, 2014. "El Impacto del Endeudamiento y Riesgo de Desempleo en la Morosidad de las Familias Chilenas," Notas de Investigación Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 17(1), pages 88-102, April.
    8. Jaime Ruiz-Tagle & Francis Vella, 2010. "Borrowing Constraints and Credit Demand," Working Papers Central Bank of Chile 578, Central Bank of Chile.
    9. David Bravo & Jere R. Behrman & Olivia s. Mitchell & Petra E. Todd. & Javiera Vásquez, 2008. "Encuesta de protección social 2006: Presentación general y principales resultados," Working Papers wp273, University of Chile, Department of Economics.
    10. repec:mpr:mprres:4780 is not listed on IDEAS
    11. Carlos Madeira, 2018. "Priorización de pago de deudas de consumo en Chile: el caso de bancos y casas comerciales," Notas de Investigación Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 21(1), pages 118-132, April.
    12. Brownstone, David, 1997. "Multiple Imputation Methodology for Missing Data, Non-Random Response, and Panel Attrition," University of California Transportation Center, Working Papers qt2zd6w6hh, University of California Transportation Center.
    13. Andrés Sagner, 2009. "Determinantes del Precio de Viviendas en Chile," Working Papers Central Bank of Chile 549, Central Bank of Chile.
    14. Carlos Madeira, 2015. "Motivaciones del Endeudamiento en las Familias Chilenas," Notas de Investigación Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 18(1), pages 90-106, April.
    15. Madeira, Carlos, 2018. "Explaining the cyclical volatility of consumer debt risk using a heterogeneous agents model: The case of Chile," Journal of Financial Stability, Elsevier, vol. 39(C), pages 209-220.
    16. Jeffrey M. Wooldridge, 1999. "Asymptotic Properties of Weighted M-Estimators for Variable Probability Samples," Econometrica, Econometric Society, vol. 67(6), pages 1385-1406, November.
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    Cited by:

    1. Sofía Bauducco & Gonzalo Castex & Andrew Davis, 2019. "The wealth distribution in developed and developing economies: comparing the United States to Chile using survey data from 2007," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 22(3), pages 154-203, December.
    2. Alvaro Aguirre, 2017. "Contracting Institutions and Economic Growth," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 24, pages 192-217, March.
    3. Alfredo Schclarek & Mauricio Caggia, 2017. "Household saving and labor informality: the case of Chile," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 20(3), pages 052-080, December.
    4. Fernando Borraz & Leandro Zipitría & Enrique López Enciso, 2013. "Price Setting in Retailing: the Case of Uruguay," Investigación Conjunta-Joint Research, in: Laura Inés D'Amato & Enrique López Enciso & María Teresa Ramírez Giraldo (ed.), Inflationary Dynamics, Persistence, and Prices and Wages Formation, edition 1, volume 1, chapter 9, pages 193-220, Centro de Estudios Monetarios Latinoamericanos, CEMLA.
    5. Madeira, Carlos, 2019. "The impact of interest rate ceilings on households’ credit access: Evidence from a 2013 Chilean legislation," Journal of Banking & Finance, Elsevier, vol. 106(C), pages 166-179.
    6. Carlos Madeira, 2012. "Tasas de Crédito Ajustadas por Riesgo e Implicancias para Políticas de Tasa Máxima Convencional," Working Papers Central Bank of Chile 654, Central Bank of Chile.
    7. Sofía Bauducco & Gonzalo Castex, 2013. "The Wealth Distribution in Developing Economies: Comparing the United States to Chile," Working Papers Central Bank of Chile 702, Central Bank of Chile.
    8. Kochen Federico, 2016. "Price-Setting in Mexico and the Real Effects of Monetary Shocks," Working Papers 2016-21, Banco de México.
    9. Carlos Madeira, 2014. "El Impacto del Endeudamiento y Riesgo de Desempleo en la Morosidad de las Familias Chilenas," Notas de Investigación Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 17(1), pages 88-102, April.
    10. Carlos Madeira, 2018. "Priorización de pago de deudas de consumo en Chile: el caso de bancos y casas comerciales," Notas de Investigación Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 21(1), pages 118-132, April.
    11. Fernando Borraz & Joaquín Saldain, 2017. "Variance Decomposition of Prices in an Emerging Economy," Monetaria, Centro de Estudios Monetarios Latinoamericanos, CEMLA, vol. 0(2), pages 243-269, July-Dece.

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