Working Paper Revision
What Do Survey Data Tell Us about US Businesses?
Abstract: This paper examines the reliability of survey data on business incomes, valuations, and rates of return, which are key inputs for studies of wealth inequality and entrepreneurial choice. We compare survey responses of business owners with available data from administrative tax records, brokered private business sales, and publicly traded company filings and document problems due to nonrepresentative samples and measurement errors across several surveys, subsamples, and years. We find that the discrepancies are economically relevant for the statistics of interest. We investigate reasons for these discrepancies and propose corrections for future survey designs.
Keywords: Survey data; business incomes; valuations; taxes; intangibles;
JEL Classification: C83; E22; H25;
https://doi.org/10.20955/wp.2019.021
Status: Published in American Economic Review: Insights
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Bibliographic Information
Provider: Federal Reserve Bank of St. Louis
Part of Series: Working Papers
Publication Date: 2020-01
Number: 2019-021
Related Works
- Publisher Article (2020-12) : What Do Survey Data Tell Us about US Businesses?
- Working Paper Revision (2020-01) : You are here.
- Working Paper Original (2019-07) : What Do Survey Data Tell Us about US Businesses?