1983 SURVEY OF CONSUMER FINANCES: TECHNICAL MANUAL AND CODEBOOK

Robert B. Avery and Gregory E. Elliehausen Board of Governors of the Federal Reserve System

April 1985 Last Revision: February 15, 1990

SURVEY DESCRIPTION AND OVERVIEW INTRODUCTION There have been many changes in financial markets during the last decade. Inflation and interest rates increased sharply in the late 1970s and then fell after recessions in 1980 and 1981-82. Major financial innovations occurred, such as the introduction of money market funds, and the regulation of financial markets altered dramatically after enactment of the Depository Institutions Deregulation and Monetary Control Act of 1980. To assess the effects of these changes on the financial position of households, the Board of Governors of the Federal Reserve System, the U.S. Department of Health and Human Services, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Federal Trade Commission, the U.S. Department of Labor, and the U.S. Treasury, Office of Tax Analysis joined together to sponsor the 1983 Survey of Consumer Finances (SCF). The 1983 SCF collected data on the assets and liabilities of a nationally representative sample of U.S. households. The survey was designed to provide detailed information on the characteristics of different types of assets or liabilities and on the institutional sources of these balance sheet items. Data on reasons for various financial choices and attitudes toward financial risk, liquidity, and credit use were also collected to help explain household behavior. In addition, the 1983 survey provides information that permits estimation of pension and Social Security wealth. Such information is not generally available from other data sources. Interviewing for the 1983 Survey of Consumer Finances was conducted by the Survey Research Center (SRC) of the University of Michigan between February and August of 1983.[1] The survey sample consists of 3,824 randomly selected U.S. households and a supplemental sample of 438 high- income households drawn from federal income tax files. The supplemental high-income sample provides better representation of the upper tail of the wealth distribution than that

provided by most other surveys. In conjunction with the household survey, a survey was conducted with the pension providers of those households reporting pension coverage. The Pension Provider Survey collected the formulas for computing pension benefits for 75 percent of applicable households with pensions (1,421 households). In the Summer of 1986, 2,822 of the 1983 SCF respondents were found and administered a limited telephone reinterview, offering the opportunity to study household savings over the intervening three years. This manual describes the set of "recoded, edited, and imputed" variables developed at the Federal Reserve Board. It documents the procedures used for editing the raw survey responses, the statistical methods used for imputing missing data, the construction of new variables from the original variables, and the addition of new variables which have been created by matching information from other data sources. The manual also presents technical material on the survey's design and weights. It should be used in conjunction with an earlier release of the SRC (dated 7/11/84), which describes the variables representing the raw responses of the survey respondents. The interviewers instruction manual, also released by SRC also provides useful information. For a summary of some of the basic results of the survey, the reader is referred to the following publications: Robert B. Avery, Gregory E. Elliehausen, Glenn B. Canner, and Thomas A. Gustafson, "1983 Survey of Consumer Finances," Federal Reserve Bulletin, 70 (September 1984): pp. 679-92. Robert B. Avery, Gregory E. Elliehausen, Glenn B. Canner, and Thomas A. Gustafson, "1983 Survey of Consumer Finances: A Second Report," Federal Reserve Bulletin, 70 (December 1984): pp. 857-868. Robert B. Avery and Gregory E. Elliehausen, "Financial Characteristics of High-Income Families," Federal Reserve Bulletin, 72 (March 1986): pp. 163-77. Robert B. Avery, Gregory E. Elliehausen, and Arthur B. Kennickell, "Measuring Wealth with Survey Data: An Evaluation of the 1983 Survey of Consumer Finances," Review of Income and Wealth, March 1989. The data from the 1983 SCF, including the high-income sample and the Pension Provider Survey, are available on request from the National Technical Information Service, 5283 Port Royal Road, Springfield, Virginia 22161 (telephone 703-487-4600). DESIGN AND METHODS The 1983 SCF sample consists of a randomly selected, nationally representative, area probability sample of all U.S. households (cross-section sample) and a supplemental sample of high-income households drawn from federal income tax files (high-income sample). The area probability sample used the 1970 SRC National Sample frame. The sample was designed to represent housing units in the coterminous United States (the 48 lower states) exclusive of those on military reservations, nursing and rest homes, college dorms, jails, hotels, missions, convents, monasteries, and other institutional quarters.[2] Housing units were selected by a multi-stage procedure that samples successively smaller geographic areas. Probability selection was

enforced at all stages of sampling. The first stage of the sample selection procedure was that used to draw the 1970 SRC National Sample. The 1970 frame was used because full data from the 1980 Decennial Census were not available at the time of the survey. The frame was adjusted, however, to represent 1980 population values. The 1970 SRC National sample was drawn by assigning all U.S. metropolitan areas (SMSAs) and non-SMSA counties to 74 relatively homogeneous strata, and selecting one SMSA or county (primary sampling unit or PSU) per stratum.[3] Twelve of these strata, representing New York City and the other 11 largest SMSAs, contained only one PSU, and thus, were selected with certainty.[4] From each of the remaining 62 strata, which contained between 2 and 200 PSUs, one primary area was selected with a probability proportionate to population. Thirty-two of these strata were SMSAs and 30 were strata made up of non-SMSA counties or county groups. The sample was stratified by region of the country, so that each of the four major geographic regions -- Northeast, North Central, South, and West -received representation in proportion to their population. In order to reduce variances below those that would be obtained with ordinary stratification, PSUs in each region were selected using a controlled selection method. This method controlled the distribution of sample PSUs by state and degree of urbanization. It results in a more geographically balanced sample and increases the precision of sample estimates relative to a more conventional random design. The PSUs selected for the 1983 SCF were drawn from 37 states and the District of Columbia as shown in figure 1. Figure 1 The SCF Sample (see appendix) PSUs were divided into successively smaller sampling units in subsequent stages: cities, towns, census tracts, minor civil divisions, and rural areas (second stage);[5] urban blocks and rural areas containing 16 to 40 housing units (third stage);[6,7] and individual housing units (fourth stage).[8] All of the housing units selected in the fourth stage were included in the sample.[9] The area probability sample design was targeted to reach 6,057 housing units; which, assuming an occupancy rate of .93 would yield 5,633 sample households, and, with a response rate of .71, 4,000 completed interviews. The high-income sample was drawn from a large sample of 1980 federal income tax returns created by the Statistics of Income Division (SOI) of the Internal Revenue Service (IRS). The procedures for obtaining the high-income sample were designed to shield the identity of survey respondents from the government and to preserve the confidentiality of tax returns. Using multi-faceted sampling criteria, the Internal Revenue Service selected about 5,000 returns of high-income taxpayers that were estimated to have large amounts of wealth.[10] This sample was drawn from the same primary areas that were selected for the area probability sample.[11] The Comptroller of the Currency sent letters to these 5,000 individuals requesting participation in the survey. Four hundred fifty-nine households notified the Comptroller of the Currency that they were willing to participate. This information was forwarded to SRC, which included these households in the survey sample.[12] Under these procedures the IRS never knew the names of the final

respondents. The SRC did not know the names of the high-income individuals who were not willing to participate in the survey, nor did they have access to tax data for survey participants. The Office of the Comptroller of the Currency, which can legally receive such information from the IRS as a fellow member of the Department of the Treasury, only knew that the 5,000 individuals had relatively high incomes; it did not have access to any tax information for these individuals. The same questionnaire was used to interview respondents in both the area probability and high-income samples, and field interviewers were not told which households were part of the high-income sample. The interview was conducted in person. Table 1 shows the response rates, final sample sizes, and average interview length for both the area probability and high-income samples. The area probability sample is somewhat smaller than targeted (4,000). The shortfall is due primarily to a higher than expected vacancy and seasonal residence rate in the selected sample. Table 1 Response Rates Total Area Probability High-income Households Sample Sample _______________________________________________________________________________ Original Sample units -6062 5000 Sample Households 5855 5396 459 Complete Interviews 4262 3824 438 Refusals* 1224 1209 15 Non-interviews** 369 362 6 Response Rate .73 .71 .95 Interview length (minutes) 75 74 87 ______________________________________________________________________________ * Contact with household complete, and eligible respondent refused. ** Interview not obtained for reasons other than respondent refusal (for example, household members on vacation or respondent health problems preclude interview). For both samples, selection of the survey respondent within a household unit (or dwelling), followed a set of pre-determined rules. Survey interviewers first tried to determine the individual within the household who was "most knowledgeable" about the household's financial affairs. If this could not be determined, interviewers tried to determine the household's economically "dominant" or "mainstream" individual, i.e. the individual owning the house, or having significantly more income. This individual was selected as the survey respondent. In the event that such an individual could not be identified, such as the case of unrelated roommates sharing living quarters, the household resident closest to age 45 was selected as respondent. If the selected respondent refused to conduct the interview, survey procedures allowed the substitution of their spouse, but no other household member.[13] Once the survey respondent was ascertained, the survey sampling unit was set as the family of that individual, termed the "primary family" of the household. A family is defined as all individuals residing together in the same household who are related to each other by blood, marriage, or adoption. The

primary family could be a one-person unit (if the respondent did not live with relatives) as well as a unit of two or more individuals. Individuals having "partners" or other common-law relationships were treated as married. The Census Bureau definition of a household is the same as that of the SRC. The Census Bureau, however, distinguishes between families of two or more persons and single person units. The Census defines a family as two or more individuals residing together in the same housing unit who are related to each other by blood, marriage, or adoption. Unrelated individuals are defined as individuals living by themselves or with unrelated persons. For each household, the householder is defined as owner, renter, or economically dominant individual. Any families which do not contain the householder are defined as unrelated subfamilies. Using these definitions, the SRC primary family was virtually always the householder by themselves (if an unrelated individual) or the family of the householder. Since the SRC interviewed one primary family per housing unit, the number of households will be the same as the number of primary families (we use the terms household and family interchangeably in this manual). Interviews were sought with all primary family units; however, no other families or individuals in the household, such as roomers, boarders, servants, or roommates, were interviewed (although their age and sex is noted in the household listing). The excluded individuals would be those in unrelated subfamilies and non-householder, unrelated individuals as defined by the Census. Rough calculations suggest that aggregate wealth totals derived from the survey are only slightly lower (.4 percent) because of the failure to interview all household members. SCF household listings indicate that non-interviewed individuals represent about 4,818,000 people. For the March 1983 Current Population Survey (CPS), the Bureau of the Census estimated that there were a total of 6,678,000 such persons living in 4,600,000 families, and that they earned 3.8 percent of total household income. About one-half of the survey respondents were women including about 40 percent of the cases of married households (the high-income sample respondents, though, were virtually all male). Both spouses were present during about 40 percent of the married household interviews, however, and callbacks were used in a significant portion of the remaining cases to solicit information about a spouse not present at the interview. Information on the ownership of assets and liabilities was solicited only at the family level, and thus cannot be allocated to specific individuals. Income on earnings, pensions, education, and work history was solicited for both the respondent and their spouse. Interviewing for the survey was carried out by the Survey Research Center from February through July 1983. A complete, detailed inventory of household assets and debts including businesses, pensions, properties, and financial items was collected. In addition, a comprehensive work history and demographic data were collected for primary family members. Additional questions focused on the use of financial services, specific income sources, savings and borrowing attitudes, health, and inheritance. Particular attention was paid to pension assets, including detailed questions on types of plans, expected benefits, structure of vesting, contributions, and current values of identifiable accounts. The manual itself provides a detailed list of the questions asked as part of the survey. DATA CLEANING AND IMPUTATION The actual responses given by respondents may contain missing or

inconsistent information due to respondents' misunderstanding, lack of knowledge, or unwillingness to answer certain questions. These problems make analysis of the raw data difficult and, depending on the pattern of errors, may bias conclusions. A series of consistency checks and imputation procedures was developed at the Federal Reserve Board to clean the raw data and to estimate values for the missing data. The computer code to implement these data cleaning and imputation procedures is over 40,000 lines long. Specific information is given for each variable listed in this manual. The general procedures are described below. Overview: Three basic methods were used to impute missing data. The first method computed missing values by formulas based on respondent information that was closely related to the missing items. For example, missing earned income could be imputed from reported wage rates, hours worked, and work history. Asset income could be inferred using average rates of return if asset values were given. Similarly, asset values could be estimated from reported asset income. Length of unemployment coupled with the appropriate state benefit formula could be used to impute unemployment income; and work history and Social Security benefit formulas could be used to impute Social Security income. Where appropriate, random disturbances were added in making imputations. The detailed data were also useful for resolving inconsistencies in reported values. The second method assigned missing values on the basis of random draws from conditional frequency distributions. This method was used primarily to impute missing values for variables with discrete values. It was also used to estimate dollar amounts in a few cases in which a very small number of missing values were present. A variant of this method involved using a conditional mean together with information reported by the respondent to estimate the value of a missing item. The amount borrowed for a first mortgage, for example, was sometimes estimated by multiplying the purchase price of the house by the average loan-to-price ratio in the year of purchase. The third method estimated missing values by regression. Missing values were assigned the value predicted by the regression plus a random disturbance term, which was generally assumed to be a truncated log-normal variable with the same variance as the residual term of the regression. This method was used to estimate most missing dollar amounts. Income and asset regression imputations were done simultaneously, using an iterative technique, in order to preserve all second moments. Much more was involved in the process of preparing the dataset than imputation of missing values. In many instances respondents gave inconsistent answers to similar questions, which had to be resolved. There were other instances where assets and/or debts appeared to be reported twice. A more common type of problem involved the categories to which assets were assigned. For example, many elderly respondents appeared to confuse Social Security and SSI. The assignment of assets to money market accounts or SUPER NOW checking accounts was done inconsistently by respondents. Many of these kinds of problems and inconsistencies resulted in data being changed or moved. The area probability and high-income samples were handled separately. Missing values for all observations in the high-income sample were imputed. In the area probability sample, however, 159 of the original 3824 observations were discarded because virtually all dollar amounts for income and assets were missing (this procedure is described in the next section). All missing values for the remaining 3665 observations were imputed.

Most of the imputations for the 1983 survey were made entirely on the basis of 1983 data. In order to preserve the appropriate inter-temporal correlations, however, some use was made of 1986 responses for those households responding to the 1986 SCF. Specifically, some 1983 values were reimputed where respondents gave "hard data" in 1986 for an item which was missing in 1983. Wages and Income: Dollar amounts for each missing income source were imputed separately, and total family income was obtained by summing income sources. Missing earned income was estimated using a wage index to deflate the current wages of the respondent and their spouse to 1982 levels. If the current wages were missing as well, they were estimated using conditional mean tables constructed from the March 1983 CPS. Missing values were assigned average log-wages for persons of the same sex, race, age, and three-digit occupation code plus a random error term. The random error term was chosen so that the correlation in wages between an individual's current and past jobs was the same as that observed for the part of the sample with complete information. Missing wage and business income of self-employed individuals were imputed separately using CPS data for self-employed individuals. For the high-income sample, a similar procedure was used to impute wage and business income. Missing values were assigned on the basis of occupation and age, with random error terms added to the conditional means. The conditional means were obtained from the high-income sample itself, however, not the CPS. Unemployment compensation was imputed using state benefit rules and job information reported in the employment section. Some pension and Social Security income was estimated using information from the employment section, but most was imputed by regression. Welfare was imputed by regression using state benefit formulas. Interest and dividend income was estimated by multiplying dollar amounts of various types of assets held by the appropriate average yields for those assets in 1982. Average yields were obtained from the Federal Reserve Bulletin and other publications. Assets: Missing values for most financial assets were estimated either by capitalizing interest and dividend income or by regression if these income sources were not reported. The procedure used when both income and financial asset values were missing was an iterative one that imputes income and asset values simultaneously. It builds maximum likelihood estimates of the covariance matrix of the set of imputed variables conditioned on demographic and other variables under the assumption that they are jointly log-normal and that given such information observations are missing randomly. Imputed values are conditional expectations plus a random error. Missing house values were imputed by inflating reported purchase prices by regional housing price indices. Some house values, and all other missing real estate, life insurance, net equity of businesses, and some land contracts were imputed by regression. Automobile values were imputed by matching the year and make of the vehicle to the National Association of Automobile Dealers "blue book" listing of used car values at the time of the survey. Debts: Respondents were asked to report dollar amounts outstanding for open-end and non-installment closed-end debts. Missing dollar amounts were estimated by regression. Asset values, income, and other demographic characteristics of the family were used as predictor variables. Random errors were added to the predicted amounts outstanding. Respondents reported credit terms -- payment size, frequency, amount borrowed, due date, and interest rate -- for mortgages, land

contracts, and other real estate loans. Some payments had to be adjusted because the reported amount included taxes and insurance. The amount outstanding on each loan could then be obtained by calculating the present value of remaining payments of principal and interest. Missing credit terms were estimated using appropriate average interest rates, maturities, and loan-to-price ratios published in the Federal Reserve Bulletin (the amount outstanding could actually be computed even if one term was not reported, because of a redundancy). Similar information was collected for closed-end installment debt, although interest rates were not reported. Sufficient information was available if all other terms were reported to solve for the implied interest rate. The amount outstanding for each loan could then be computed in the same fashion as used for mortgages. When one of the terms was missing or the computed interest was implausible, an appropriate interest rate from the Federal Reserve Bulletin was assumed for area probability sample observations. For high-income sample observations, missing values were assigned on the basis of matches to other comparable loans in the high-income sample. Summary Data on Imputation: The impact of the imputation process used for the SCF is apparent from the non-response rates given for selected assets and liabilities in table 2. Non-response rates for ownership ("do you have a .. .?") and dollar amounts ("what is its value?") were computed for three subsamples -- the high-income sample, the 3665 edited area probability observations, and the 159 discarded area probability observations. The non-response rate for each item was computed by dividing the number of missing responses by the number of times that a question was asked. Dollar amounts were asked only if a respondent acknowledged ownership; and for closed-end installment debts, where amount outstanding was computed rather than reported, refer to the amount borrowed or payment size. For other debts, dollar amounts refer to amount outstanding. There are no non-response rates for automobile value because this value was calculated from reported make and model and was not solicited from respondents. Table 2 NON-RESPONSE RATES FOR SELECTED ASSETS AND LIABILITIES, 1983 SCF EDITED CROSS-SECTION ASSETS Principal residence Other real estate (gross) Public stock Bonds and trusts Checking accounts Savings accounts Money market accounts Certificates of deposit IRA and Keogh accounts Savings bonds Life insurance cash value Business assets (net) Automobiles OWNRSHP .1 .1 1.3 .7 .1 .2 .2 1.3 .3 .1 2.4 .1 .0 $ AMT 7.8 9.2 25.4 24.7 9.6 14.1 18.3 25.6 11.9 17.4 71.7 37.2 -HIGH-INCOME OWNRSHP .0 .0 1.7 2.4 .5 .7 .3 .9 .3 .2 .5 .5 .0 $ AMT 1.4 3.0 6.7 6.2 4.7 4.8 9.3 9.0 2.1 4.6 33.5 17.6 -DISCARDED CROSS-SECTION OWNRSHP .6 2.5 15.8 8.5 5.0 8.2 5.0 15.2 4.4 6.3 9.4 4.4 .1 $ AMT 32.8 35.3 97.8 82.9 71.7 89.6 93.1 97.4 79.6 71.4 91.8 96.9 --

DEBT Automobile debt Consumer debt Principal residence debt Other real estate debt .7 .2 .3 1.0 4.6 5.6 9.6 8.2 .0 .4 .5 .0 1.7 3.7 3.6 3.9 2.2 .6 1.6 7.7 36.4 59.1 50.8 40.0

Note that few respondents failed to acknowledge ownership of specific items. Non-response rates for dollar amounts, however, are significantly larger.[14] The high-income sample has lower non-response rates than the area probability sample for virtually every item, despite the fact that the survey lasted longer on average for the high-income sample and respondents had more complex finances. This may reflect the fact that high-income respondents had to agree to participate before they were even approached by an interviewer. The effects of missing value imputations on asset totals are shown in table 3. The first and third columns show the percentage of the final weighted total of each asset that stems from dollar values given by respondents. The difference between this number and 100 is the percentage of each asset's dollar total that was imputed. Percentages are given separately for the edited area probability and the high-income group. Imputations accounted for less than 10 percent of total asset values in ten of the twelve asset categories in the high-income sample but in only four of the twelve categories in the area probability sample. For every asset category, the proportion of total assets accounted for by imputations is lower in the high-income sample than in the area probability sample. Cash value of life insurance is the lowest quality item -- imputations account for 41 percent of total cash value in the high-income sample and 76 percent of the cash value in the area probability sample. Table 3 IMPUTATION PERCENTAGES AND IMPLIED MEAN IMPUTATIONS, 1983 SCF* HIGH-INCOME RESPONDENT DATA AS % OF TOTAL Principal residence Other real estate (gross) Public stock Bonds and trusts Checking accounts Savings, CDs, money mkt. Savings accounts Money market accounts Certificates of deposit IRA and Keogh accounts Savings bonds Life insurance cash value Business assets (net) 99.2 98.8 95.6 93.7 96.5 96.7 95.7 91.8 98.5 99.0 58.8 80.1 IMPUTATION BY MEANS IMPLIED % OF TOTAL 100.3 101.1 100.2 100.3 101.1 101.1 100.9 97.5 101.2 100.7 80.7 101.1 EDITED CROSS-SECTION RESPONDENT DATA AS % OF TOTAL 95.6 90.1 88.4 74.9 92.6 86.3 84.3 76.4 91.3 89.9 24.1 82.4 IMPUTATION BY MEANS IMPLIED % OF TOTAL 102.9 97.5 104.7 94.3 101.1 99.9 98.1 98.9 102.6 106.9 70.4 118.9

* Full sample weights are used for each subgroup To examine the robustness of the imputation procedures each sample was "re-imputed" by assigning the sample mean to each missing dollar value instead of the more complex imputations actually used.[15] The figures in columns 2 and 4 of table 3 are the aggregate percentages of each sample including the original imputations accounted for by samples including the more crude mean-based imputations. Most percentages are quite close to 100. The poor data on the cash value of life insurance, however, is again reflected by the fact that its overall total is quite sensitive to the imputation procedures used. The life insurance percentages of less than 100 suggest that observations with missing data were those with higher than average values (at least as predicted by our more complex imputations). Conversely the 118 percent figure for the area probability sample business assets suggests that cross-sectional observations with missing business data were smaller than average. These figures suggest that the patterns of nonresponse are complex, and that simplistic imputation procedures are likely to be flawed. SAMPLE WEIGHTS For a variety of reasons, final household survey data will rarely represent a random draw from the U.S. population. Even if the original survey design were random, different types of households will have different likelihoods of completing interviews. Very high and very low income households, for example, are thought to be less likely to participate in surveys. The 1983 SCF had an additional source of non-randomness because of the inclusion of the high-income supplement. These factors necessitated the construction of weighting variables to compensate for known or estimable sources of stratification in the final data set. Several different weights were constructed. Inclusion of households in the final "cleaned" data set described in this manual results from a series of implicit stratified selection criteria. There are four major sources of implicit stratification. First, there are different response rates for different household types. This occurs because households cannot be reached (up to six attempts to contact participants were made) or because they refuse to participate when contacted. Second, the sample may not fully reflect U.S. population due to sampling error in the survey itself (in the sense that any random sample will not have exactly the same average characteristics as the population from which it is drawn). Third, as mentioned above, not all survey observations were usable for analysis because of significant missing information due to deliberate or inadvertent actions. Of the 3,824 area probability sample survey households included in the original SRC data tape, 159 observations were dropped in the cleaned file. Finally, the SCF sample is drawn from both the area probability and high-income sampling frames. If both samples are used, it is necessary to properly mix them to have a representative national sample. There are a number of ways which can be used to compensate for these types of sample stratification. The method employed here is to construct sample weights, which can be used to adjust the final sample. Briefly, the weights were calculated as follows. Area Probability sample weights: The original SRC sampling frame called for sampling 6,062 housing units in the cross-section. If each housing unit had yielded an interview, each observation would

represent 13,333 housing units. In fact as shown earlier in table 1, only about 89 percent of the housing units were occupied, and of these, only about 71 percent (3824) contained households who were willing to participate in the survey. Obviously, the exact characteristics of the non-responding households are unknown; however, the response and occupancy rate differed significantly across the survey's 75 PSUs. The "non-response" weight adjusts for this differential non-response. This weight is equal to the reciprocal of the household response rate for the PSU for which the household belongs. This weight should compensate for some location-related characteristics associated with non-response and occupancy. The second type of stratification cited above can be adjusted for by taking into account how the final area probability sample (weighted for "non-response") compares with the population according to certain select characteristics. Obviously the sample could be adjusted for any one of a number of characteristics (age, income, size of household, region, etc.). SRC elected to compensate for regional sampling error by computing a "post-stratification" weight which adjusts the sample to have the same relative population as the 1980 census in the four major sample regions (Northeast, South, North Central, and West) further subdivided into urban and rural. We computed a similar weight, but post-stratified to the population and urban/rural definitions represented by the March 1983 CPS. The third type of stratification cited above can be adjusted for in two different ways. The criteria for inclusion in the cleaned area probability sample was as follows. Any observation with any dollar values given for earnings or income was automatically included. Remaining observations were excluded only if there were virtually no dollar values given for housing value (or rent), other property values, business, and financial assets. Information on debts was not used in this section. Specific rules were employed to exclude observations whose ratio of missing data to relevant questions exceeded a certain level. In practice those observations that were dropped were missing values for virtually all dollar value questions they were asked.[16] None of the high-income sample observations were dropped. In fact, these observations were remarkably clean, with comparatively little missing information. To compensate for these exclusions, a probit model was fit to model the probability that an observation in the complete 3824 area probability sample file would be included in the cleaned 3665-observation data set. Variables used in this model were selected as follows. Most asset questions consisted of two parts. An initial screen question which asked if the respondent had an asset, and a follow-up for those acknowledging ownership, asking how much they had. In virtually every instance of missing values, it was the second question which was not answered rather than the first. Thus, the probit model predicting inclusion in the cleaned sample used a number of the first type of questions, as well as standard demographic data available for all observations, as predictor variables. The fitted probit equation results can be used in two ways. The inverse of the predicted probability that an observation would have been included in the cleaned sample (conditioned on the predictor variables used), can be used to weight observations in analysis. In practice, this procedure implies higher weights for observations holding a large number of different assets. An alternative way of using the probit results attempts to account explicitly for correlation between inclusion in the sample and the error term of an estimated equation. A variable has been created

which is the expectation of the "error" in the inclusion equation, conditioned on the fact that the observation indeed turned out to be included (the so-called Mills ratio). This variable can be included as a regressor in estimated equations and will account for "sample selection" bias under certain assumptions. High-Income and full sample weights: The weights for the combined sample containing both the area probability and high-income samples were more difficult to compute, and are more subject to question. Unfortunately full information on the high-income sampling procedure is not publicly available. Additional complications stem from the fact that the high-income observations were drawn from a 1980 sampling frame of taxpayers (but were contacted in 1983) and the fact that the reporting basis for tax files (individuals or married couples) is not always the same as the survey (families). Initially, the Office of Tax Analysis used a statistical file set up by the IRS to construct relative weights for the high-income sample (the sample was divided into nine cells each with a separate weight). These weights are supposed to make the high-income sample representative of the unknown full IRS sampling frame. SRC constructed sample distributions for the overlap of the area probability and high-income samples (over $100,000 dollars in household income) to compute a "meshed" combined sample weight. The SRC weight retained the relative weights of the high-income sample and left the weight for area probability observations below $100,000 largely unchanged.[17] Well after the initial SRC full sample weights were computed, information on the upper tail of the distribution of 1982 taxpayers became available. When this was compared to reported 1982 household income in the SCF sample, it appeared that the SRC meshed weight may have given too much weight to the high-income sample. As a consequence, another full-sample weight was constructed at the Federal Reserve Board which used a different approach to combine the two samples. It was decided to construct sampling weights for the high-income sample (and area probability observations with income above a certain level) using a post-stratification scheme based on control totals for an "extended" income measure constructed from the 1982 Tax Model File (TMF) of the IRS. The TMF is a stratified sample of 88,218 individual tax returns with a significant over-sampling of high incomes.[18] This income measure, which was constructed for all survey households using reported 1982 income data, is roughly comparable to the IRS measure of adjusted gross income plus excluded realized capital gains. Despite the fairly detailed income questions in the SCF, it is clear that the survey measure of business income almost surely overstates the TMF measure. It appears likely that survey respondents often report something much closer to a cash-flow concept of income rather than income netted of expenses and depreciation. Unfortunately, there is not sufficient information in either the SCF or the TMF to make a precise compensating adjustment. A gross adjustment for the aggregate difference between the survey and TMF business income totals was made in constructing the survey measure of extended income. Reported business income in the SCF was deflated by about 40 percent so that IRS and adjusted survey aggregates of business income were the same. This adjustment was quite ad hoc, however, and the potential for distortion at the individual level remains, with weights for households with business income particularly suspect. Because the reporting units in the survey and the TMF differ, the

TMF data were adjusted in order to estimate income on a family basis. Most of the high-income returns in the TMF are either joint filings or those of single individuals. However, there are some married couples filing separately, particularly in the $50,000 to $100,000 income range. These observations were "aggregated" into households by assuming that separate filers were all married to people with the same income (weights for such observations were halved). The final weights are only slightly affected by variations in this adjustment. Post-stratification cells were defined by the seven categories of extended income shown in table 4. For each of the top six income cells (above $80,000), weights were determined so that the weighted number of survey observations equaled the TMF totals. High-income observations were assigned the cell average. Area probability sample observations were assigned relative weights based on their cross-section weight, but scaled so that the mean for each of the six cells was the same as that of the high-income observations. The original weights of the area probability observations with income below $80,000 were adjusted so that the weighted number of SCF households equaled the population estimated from the March 1983 CPS. High-income sample observations with income below $80,000 were arbitrarily assigned the same weight as observations in the $80,000 to $90,000 group. Table 4 FRB Full Sample Weight Household Number of Number of TMF control Average extended income Area Prob. High-income totals of weight (dollars) cases cases households assigned ___________________________________________________________________________ under $80,000 3,579 49 82,364,760 22,703 $80,000-89,999 22 11 356,324 10,798 $90,000-99,999 13 16 250,746 8,646 $100,000-124,999 23 40 362,022 5,746 $125,000-199,999 16 92 356,386 3,300 $200,000-499,999 11 148 182,424 1,147 $500,000 and over 1 82 45,338 546 ___________________________________________________________________________ All cases 3,665 438 83,918,000 20,453

Most of the work done to date with the 1983 SCF has used the SRC meshed weights. Subsequent calculations suggest that the two different weighting schemes may not make as much difference as originally expected. Aggregate wealth estimates constructed using the SRC weight are about 5.0% higher than those estimated with the Federal Reserve weight. Aggregate income estimates are 3.6% higher. The importance of the weights is shown by the numbers in table 5. Columns 1 - 3 show the distribution of the unweighted area probability, high-income, and total samples over various demographic items. Columns 4 and 5 show the weighted sample distribution of the same items using the area probability weight (column 4) and the FRB extended income weight (column 5). The unweighted sample clearly

shows an over-representation of elderly, high-income, wealthy, white, and married households relative to all of the weighted samples. Table 5 Weighted and Unweighted Percentages Unweighted Area Probability Age (head) 34 or less married unmarried unmarried 35 to 44 married unmarried unmarried 45 to 54 married unmarried unmarried 55 to 64 married unmarried unmarried 65 or more married unmarried unmarried HighIncome Full Sample Weighted Area Probability FRB Full

male female male female male female male female male female

17.9 6.0 7.4 13.6 1.8 4.1 10.7 1.6 3.2 9.6 1.4 3.7 9.4 1.8 7.8 82.8 17.2 .0 26.8 19.2 19.6 7.4 2.0 25.5 18.3 16.3 17.6 14.3 7.0 1.0 64.1

1.4 .5 .2 12.6 .4 .2 22.8 2.3 .0 28.3 2.5 .5 24.7 1.8 .9 98.6 1.4 22.2 .0 .2 .9 7.8 91.1 .0 .0 .0 1.4 2.3 26.0 70.2 95.4

16.1 5.4 6.7 13.5 1.7 3.7 12.0 1.7 2.9 11.6 1.5 3.3 11.0 1.8 7.1 84.5 15.5 24.1 23.9 17.3 17.5 7.5 11.5 22.8 16.4 14.6 15.8 13.0 9.0 8.4 67.4

17.0 6.2 7.6 13.6 1.9 4.1 10.6 1.7 3.2 9.7 1.5 3.7 9.7 1.8 7.7 82.3 17.7 24.0 26.7 19.2 19.8 8.1 2.2 25.3 18.0 16.0 17.3 15.0 7.3 1.2 63.5

16.9 6.2 7.6 13.6 1.8 4.1 10.5 1.7 3.2 9.7 1.5 3.7 9.9 1.8 7.7 82.2 17.8

Race Caucasian Nonwhite or Hispanic Family Income < $10,000 25.0 $10,000-$19,999 $20,000-$29,999 $30,000-$49,999 $50,000-$99,999 >= $100,000 Family Net Worth < $5,000 $5,000-$24,999 $25,000-$50,000 $50,000-$99,999 $100,000-$249,999 $250,000-$999,999 >= $1,000,000 Homeownership

26.8 19.3 19.7 8.2 2.0 25.3 18.0 16.0 17.2 14.7 7.1 1.7 63.4

Education of the Head 0 to 8 grades 9 to 12 grades some college college graduate Labor Force Participation single, not working single, working married, neither working married, one working married, both working

15.2 46.1 16.9 21.7

.5 5.0 13.0 81.5

13.6 41.7 16.5 28.1

14.4 45.0 17.6 22.9

14.5 44.9 17.7 22.9

17.1 21.7 9.7 23.1 28.4

1.8 8.4 8.0 52.5 29.2

15.5 20.3 9.5 26.2 28.5

16.9 22.4 9.8 22.8 28.1

17.0 22.4 9.8 23.0 27.8

Further evidence on the importance of the high-income sample and the need for proper weighting is shown by the summary statistics for various components of household wealth given in tables 6 and 7. Table 6 shows aggregate estimates using only the area probability sample, weighted with the area probability sample weights. Table 7 gives the same estimates with the full sample weighted with the FRB extended income weights.[19] Note that there is virtually no difference in the estimates of median holdings of owners and the percentage of households owning various asset and debt items between the area probability and full sample. However, for the estimates of mean and aggregate holdings. Despite their being weighted to represent the same population, the area probability and full-sample estimates of a number of aggregates look quite different. Table 6 SAMPLE STATISTICS, 1983 SCF CROSS-SECTION ONLY SUM ($ B) GROSS ASSETS $10,127.2 STD ERR SUM $692.8 87.5 149.4 127.8 57.9 6.9 44.2 16.0 % GROSS ASSETS 100.0% 35.8% 14.0% 6.3% 3.4% 1.2% 9.5% 2.6% OVERALL MEAN $120,678 43,182 16,882 7,660 4,110 1,421 11,430 3,124 PERCNT OWNING 96.0% 63.5% 18.8% 20.2% 7.3% 78.6% 74.0% 33.9% MEAN OWNERS $125,693 68,002 89,699 37,860 56,421 1,808 15,445 9,205 MEDIAN OWNERS* $49,885 52,342 36,000 4,696 11,000 500 3,500 3,428

Principal residence 3,623.8 Other real estate (gross) 1,416.7 Public stock 642.8 Bonds and trusts 344.9 Checking accounts 119.2 Savings, cds, money mkt. 959.2 Life insurance cash value 262.1

Business assets (net) Automobiles Miscellaneous DEBT Automobile debt Consumer debt Principal residence debt Other real estate debt NET WORTH INCOME (GROSS)

2,127.3 372.3 258.8 1,444.6 92.2 178.5 855.3 318.7 8,682.5 2,233.5

567.5 6.7 22.5 69.6 3.6 12.5 29.4 56.4 666.4 46.8

21.0% 3.7% 2.6% 14.3% 0.9% 1.8% 8.4% 3.1% 85.7% --

25,349 4,436 3,084 17,215 1,098 2,127 10,192 3,797 103,463 26,615

13.9% 84.4% 15.5% 69.8% 28.9% 54.9% 37.3% 8.2% ---

181,861 5,255 19,845 24,655 3,797 3,872 27,355 46,291 -------

40,538 4,100 5,575 10,797 3,052 1,120 21,468 18,797 34,537 19,625

* For gross assets, net worth, and income, this is the overall median

Table 7 SAMPLE STATISTICS, FULL SAMPLE 1983 SCF SUM ($ B) GROSS ASSETS $11,572.2 3,751.7 1,689.9 1,033.8 677.4 119.4 1,052.3 285.3 2,276.3 373.7 312.5 1,510.6 90.6 228.8 865.5 STD ERR SUM $504.6 80.2 225.1 180.2 138.1 5.7 44.4 18.9 292.0 6.5 25.4 74.5 3.5 26.8 28.1 % GROSS ASSETS 100.0% 32.4% 14.6% 8.9% 5.9% 1.0% 9.1% 2.5% 19.7% 3.2% 2.7% 13.1% 0.8% 2.0% 7.5% OVERALL MEAN $137,899 44,706 20,137 12,319 8,072 1,423 12,539 3,400 27,125 4,453 3,724 18,001 1,080 2,726 10,314 PERCNT OWNING 96.0% 63.4% 18.8% 20.5% 7.6% 78.6% 74.0% 34.1% 14.3% 84.3% 15.5% 69.6% 28.6% 54.9% 37.0% MEAN OWNERS $143,638 70,465 106,997 60,161 106,365 1,811 16,951 9,978 190,025 5,282 24,073 25,853 3,772 4,969 27,898 MEDIAN OWNERS* $49,588 52,000 37,765 5,000 12,500 500 3,500 3,373 45,768 4,085 5,506 10,787 3,029 1,117 21,673

Principal residence Other real estate (gross) Public stock Bonds and trusts Checking accounts Savings, cds, money mkt. Life insurance cash value Business assets (net) Automobiles Miscellaneous DEBT Automobile debt Consumer debt Principal residence debt Other real

estate debt NET WORTH INCOME (GROSS)

325.6 10,061.6 2,247.4

57.2 479.3 33.8

2.8% 86.9% --

3,880 119,898 26,781

8.2% ---

47,317 -------

18,797 34,466 19,523

* For gross assets, net worth, and income, this is the overall median

COMPARABILITY WITH OTHER SURVEYS The 1983 Survey of Consumer Finances is the most recent survey in a series of surveys of household finances conducted by the Survey Research Center of the University of Michigan. Surveys of Consumer Finances were conducted annually from 1946 and 1970 but were then discontinued.[20] In 1977, the Survey Research Center conducted a comprehensive household finance survey again, under the sponsorship of the Federal Reserve Board and other federal bank regulatory agencies.[21] The same basic methods were used in all these surveys, although changes in sampling and interviewing procedures were introduced from time to time to improve survey results. The content of the surveys also changed over time because of shifts in interest in various aspects of consumer finances. The early surveys, which were sponsored by the Federal Reserve Board, were concerned with the effect of the postwar accumulation of liquid assets on consumer spending. Mortgage and consumer credit received greater attention in later surveys, and a major part of the 1977 survey was concerned with the effect of federal regulations on consumer credit use. Nevertheless, several areas of inquiry were followed through much of the 1946-77 period, and results from the earlier surveys are generally comparable to those from the area probability sample for the 1983 SCF. The Federal Reserve Board also sponsored the Survey of Financial Characteristics of Consumers (SFCC) in 1963, with a followup reinterview in 1964.[22] Methodological work for this survey was conducted by the SRC, and interviewing was performed by the Bureau of the Census. Like the 1983 SCF, the 1963 SFCC collected a more detailed inventory of assets and liabilities than is customary in other consumer surveys. The 1963 survey also used Federal tax information to oversample high- income households. For the 1963 survey, a sample of housing units stratified by income reported in the 1960 Decennial Census was selected to represent households with incomes below $50,000. Households with incomes of $50,000 or more were selected from a sample of 1960 Federal income tax returns. Although this sample selection procedure is not exactly the same as that used for the 1983 survey, it produced a heavy over-sampling of households in the upper end of the income distribution, making the 1963 sample the only household survey sample that is comparable to the full sample from the 1983 SCF. The Federal Reserve has also sponsored several recent surveys on the use of different means of payment for household purchases. The Survey of Currency and Transaction Account Usage, conducted by the SRC in the summer of 1984, solicited detailed information on the use of checking, savings, and money market accounts for about 2,000 households. Data were also collected on the use of currency, credit cards, money orders, and electronic banking services. In 1986, the survey was repeated for a smaller sample.[23] Wealth information is also available from other sources. Data from the Internal Revenue Service for federal estate tax returns have been used to estimate

total household wealth and its percentage distribution. Unfortunately, data from this source are available only in aggregate form, with very limited demographic breakdowns. Another source is the 1979 Income Survey Development Program of the Department of Health and Human Services, which provides information for a sample of households larger than that of most other surveys of wealth. The New York Stock Exchange has also periodically conducted surveys of household stockholders, doing a survey at a time comparable to the SCF in 1983, and more recently, in 1985. Wealth data was also collected for respondents to the Panel Study of Income Dynamics (PSID) in 1984. The most comprehensive recent survey of household wealth was conducted in 1984 (and repeated in 1985) by the Bureau of the Census on participants in the Survey of Income and Program Participation (SIPP). This survey solicited information similar to the SCF for a very large sample of households. Its initial panel was a random cross-section of about 21,000 households selected by procedures similar to those used to select the area probability sample for the 1983 SCF. Net worth information was collected between September and December 1984.[24] Aggregate wealth estimates from the earlier Surveys of Consumer Finances and SIPP are generally comparable to those from the area probability sample of the 1983 SCF in their understatement of aggregate wealth relative estimates from independent sources. Using comparably defined categories, we estimate an aggregate net worth for the SCF area probability sample of $8,277 billion versus a $7,740 billion total for the SIPP sample. The difference derives primarily from a smaller estimate of small business assets in the SIPP. The full-sample SCF estimate of the same net wealth concept is $9,610 billion. Thus, it appears that the major difference between the two surveys arises from the inclusion of the high-income sample in the SCF. The annual March Current Population Survey is perhaps the most comprehensive U.S. household economic survey, soliciting economic information from approximately 59,000 households (U.S. Bureau of the Census (1984)). The representativeness of the SCF is demonstrated by a comparison of the sample distribution of various demographic variables for the SCF and comparable March 1983 CPS survey in table 8. The CPS data are given for "primary families" defined comparably to families in the SCF. As can be seen, the SCF has a very similar distribution for most items. Table 8 A Comparison of the 1983 SCF and CPS SCF Number of cases Age (head) 34 or less married unmarried male unmarried female 35 to 44 married unmarried male CPS Weighted Number share of cases share Weighted

661 223 273 555 71

16.9 6.2 7.6 13.6 1.8

9922 3435 4105 7830 1388

16.4 5.8 7.2 13.0 2.4

unmarried 45 to 54 married unmarried unmarried 55 to 64 married unmarried unmarried 65 or more married unmarried unmarried

female male female male female male female

151 492 70 118 475 62 136 452 74 290 3468 635 912 982 711 717 309 472 2766 560 1713 678 1152 635 833 389 1077 1169 4103

4.1 10.5 1.7 3.2 9.7 1.5 3.7 9.9 1.8 7.7 82.3 17.7 24.0 26.8 19.3 19.7 8.2 2.0 63.4 14.5 44.9 17.7 22.9 17.0 22.4 9.8 23.0 27.8 100.0

2165 6253 912 1735 5967 897 2130 5532 1437 5293 47515 11486 15053 15580 12072 11533 4480 283 38320 9155 27269 10355 12222 11130 12367 7088 14023 14393 59001

3.7 10.3 1.6 3.8 10.3 1.5 3.8 9.5 2.4 9.2 82.4 17.6 25.2 26.0 20.5 19.8 7.9 .5 64.9 14.8 46.4 17.6 21.3 19.2 21.3 12.0 23.4 24.0 100.0

Race Caucasian Nonwhite or Hispanic Family Income less than $10,000 $10,000 to $19,999 $20,000 to $29,999 $30,000 to $49,999 $50,000 to $99,999 $100,000 or more Homeownership Education of the Head 0 to 8 grades 9 to 12 grades some college college graduate Labor Force Participation single not working single, working married, neither working married, one working married, both working Totals

The CPS does not collect wealth data comparable to the SCF. However, detailed household money income, by source, is available from both the CPS and SCF. A comparison of 1982 U.S. household totals for a number of income categories measured by both the SCF and the March 1983 CPS is displayed in Table 9. The CPS totals are adjusted to exclude income for secondary families and unrelated individuals, who would not have been included in the SCF. We also show a comparison of the SCF income data with aggregate 1982 household income compiled by the IRS from tax return data. A selection of cases was made from the SCF to represent the population of households that would normally file tax returns. Non-taxable income was deleted for these calculations.

Table 9 Comparisons of Income Measured in SCF, CPS, and IRS Data 1982 INCOME 1983 SCF ($ B) Salaries and wages Business or farm income Taxable interest income Dividend income Net gains from stocks Rental or trust income Dividends/trust/ rental total Welfare or public assistance Unemployment or workman's comp Alimony or child support Retirement income Category totals 1,393.7 291.3 98.5 ---------102.9 23.2 20.6 35.6 194.6 2,160.4 1982 INCOME CPS ($ B) 1,443.5 110.5 95.1 ---------47.3 17.4 32.8 21.4 204.3 1,972.3 1982 INCOME 1983 SCF ($ B) 1,385.7 290.4 95.9 46.7 50.4 54.8 ------------94.0 2,017.9 1982 INCOME IRS DATA TAXABLE INC ($ B) 1,564.6 53.7 157.2 54.2 24.3 -2.1 ------------59.9 1,911.8

The 1983 SCF overstates comparable CPS income by about 6 percent. Most of this overstatement stems from business income and income from dividends, trusts, and real estate. Interestingly, in a comparison of data with an "independent source" in 1983, the Census Bureau concluded that CPS income data "underreported by about 10 percent" (U.S. Bureau of the Census (1985, p. 218)). The SCF also overstates IRS household income by about 7 percent. Much of the discrepancy can be explained by the SCF's failure to find significant business, rental, and security losses. PENSION PROVIDER SURVEY The sample for the study of Employer Sponsored Pension Benefit Plans was derived in three interdependent stages. The overall research design was based on the use of the 1983 SCF to identify, in turn: which households were covered by employer sponsored pensions; which pension providers and plans covered these employees; and which benefit formulas and requirements governed these pension entitlements. All respondents or spouses with work experience were questioned about pension coverage on their current job, as well as vested pension entitlements from prior employers as part of the SCF. Households that reported pension coverage were asked to identify the provider of the pension -- in most cases, their employer. All the pension providers thus identified were pooled and duplicate references to the same provider were combined. In many instances sufficient information was available from the name of the pension provider to uniquely identify them, and from files available at the Department of labor to identify their Employer Identification Number (EIN). In other instances, a telephone interview was conducted with the pension provider. The provider was

asked for their EIN and for documentation of the pension plans that covered workers in the occupational classification and work location that corresponded to the reference SCF respondent(s) applying to that provider (the names of the SCF respondents were not disclosed to the pension providers who were told that SRC was doing a survey of pensions). Pension Providers were recontacted by mail and telephone as necessary to insure a high response rate. The EIN and plan names and numbers were sufficient in most instances for SRC staff to match to official plan descriptions (SPDs) on file with the Department of Labor for most pension providers. In other instances the providers sent the SPDs or similar material to SRC. The details of the plans were then coded from the SPDs using a coding instrument developed by Mathematica Policy Research and SRC. Coders were hired by SRC specifically for the project, which required more skill than is generally necessary for coding (the final instrument has about 2,700 variables). Information was compiled separately for defined benefit and defined contribution plans. 1886 households (2262 individuals) were eligible for potential inclusion in the Pension Provider Survey. Of this total 1421 households (1641 individuals) were represented in the Pension Plan Survey for a 75 percent completion rate. These span 845 pension providers and 1011 pension plans. Data for the Pension Provider Survey is currently being distributed as part of the 1983 SCF package. A description of the survey is found in "Survey of Consumer Finances: Employer Sponsored Pension Benefits Plans," the Survey Research Center, 1986, by Richard T. Curtin.[25] 1986 SURVEY OF CONSUMER FINANCES The 1986 Survey re-interviewed respondents to the 1983 SCF. If the respondent had been divorced or separated since the 1983 interview, both the 1983 respondent and their 1983 spouse were included in the 1986 sample. Other members who left the family to form new households were not included. A total of 2,822 interviews were conducted, by telephone, between June and September 1986. Interviews lasted an average of 27 minutes. The survey was conducted by the SRC under the direction of Richard T. Curtin. The 1986 interview was primarily designed to update essential information in the 1983 SCF on the household balance sheet (needed to calculate savings) and employment data. However, additional lines of inquiry were also opened. Questions were asked about health and educational expenses, insurance coverage, more detailed data on family and family change (including marriage, divorce, death of a spouse, children outside the home, and ages of parents), charitable gifts of money and time, shared living arrangements, intra-family transfers and the financial details of divorce settlements. A limited amount of analysis has been performed on the data. See: Robert B. Avery, Gregory E. Elliehausen, and Arthur B. Kennickell, "Changes in Consumer Installment Debt: Evidence from the 1983 and 1986 Surveys of Consumer Finances," Federal Reserve Bulletin, Vol. 73, No. 10 (October 1987), pp. 761-778. Robert B. Avery and Arthur B. Kennickell, "Savings and Wealth: Evidence from the 1986 Survey of Consumer Finances," presented at the May 1988 NBER Conference on Research in Income and Wealth. MANUAL INSTRUCTIONS In the remainder of the manual, information is given on all the

variables included in the final dataset. A brief description is given for each variable along with information on imputation and a listing of the values that the variable takes on. The question number corresponding to the actual survey questionnaire (e.g. R9) is also given for all variables except recodes. Variables are listed by number, with the numeric code used as the basis of the variable's internal name in the survey's SAS data set. All variables listed here have a "B" prefix followed by a four digit number ranging from 3001 to 5749. The original uncleaned survey responses are contained in variables with a "V" prefix. These variables range from V1 to V2613. The codes for the "V" variables are described in the original survey codebook released by the SRC. We note, though, that the "B" variables contain all the same types of information as those contained in the "V" variables. Thus, for most analyses, it is possible to use the "B" variables without reference to the "V" variables. The range of allowable values of the variables is also given. The symbol xxxx is used for continuous variables with a statement of the units used and the sample range. For discrete variables with a small number of allowable codes, all possible values and their meanings are listed. The number of sample cases (out of the 4103 "cleaned" observations) taking on each value of discrete variables is also given. If the listing is for several variables (such as the 1st, 2nd, and 3rd automobiles), then the case totals are given for the listed variables, in order, separated by slashes (e.g. 123/45/87 cases). Although useful in giving a flavor of the distribution of responses to questions, the case listings should not be used for statistical purposes, as they are unweighted distributions. Most of the information collected for the 1983 SCF applies to the full family unit. Some information, however, such as employment, education, health, and pension income, was collected individually for the survey respondent and their spouse (if they had one). For married couples, the respondent could have been either the husband or the wife. For ease of use in analysis most of the person-specific variables in the cleaned dataset have been arranged as "head" and "spouse," (where head is always the husband for married couples), instead of "respondent" and "spouse." It is easy to switch data back, if desired, by using the variable B3122 which indicates whether the respondent was the head or the spouse. Several different codes are used in the dataset, including: (1) (2) (3) (4) (5) (6) The code "1" is almost always used for the answer "yes" to a question; The code "3" is generally used for the answer "sometimes" or "maybe"; The code "5" is almost always used for the answer "no" to a question; The code "-4" is used to denote a "small negative number"; The code "-6" is used to denote the answer "none" which is sometimes differentiated from zero; The code "-7" is used to denote a special "other" response which does not fit into existing codes. SRC has cards indicating what the actual response is. "-7" is also sometimes used to denote answers like "forever" or "never"

when used for continuous variables; (7) The code "-8" is used to denote the answer "don't know" (DK). Most DKs have been imputed, but some still exist for selected variables where imputation is not appropriate (e.g. attitudinal variables). In a few instances "8" is used for DK; The code "-9" is used to denote "not answered" (NA). This indicates either that the interviewer inadvertently did not ask a question or that a respondent refused to answer. Most NAs have been imputed, but a few remain. In a few instances "9" is used for NA; The code "0" is generally used to denote cases where a variable is inappropriate for a particular observation because the question which underlies the variable was not asked. For example, questions on spouses would be inappropriate for single households. Note that sometimes a question is asked, but the answer given is none or zero (such as "my business is worth nothing"). These answers are generally coded as -6 not 0. There are some instances, particularly with recoded variables, where 0 does denote none or nothing.

(8)

(9)

All variables on the tape are integers. All dollar amounts are given in whole dollars (although in answering the questions respondents may have rounded). Some variables had to be rescaled so that information would not be lost (such as percentage answers which are generally multiplied by 100). ACKNOWLEDGEMENTS Many people contributed to the 1983 Survey of Consumer Finances. Sampling, field work, editing, and coding were conducted by the Survey Research Center of the University of Michigan under the direction of Richard T. Curtin. Mr. Curtin also oversaw the cleaning and processing of the Pension Provider Survey data. Other SRC staff also made substantial contributions. Mary Grace Moore and Lisa Poole coordinated much of the questionnaire development and data processing and editing procedures. Steve G. Heeringa supervised the sample design and drawing of the SRC sample. Field work was supervised by Nancy Gebler. Coding and editing staff were supervised by Joan Scheffler. Much of the field work, and the development of the coding instrument for the Pension Provider Survey was done by Mathematica Policy Research. Miles Maxfield and Tim Carr supervised these activities. Thomas A. Gustafson, of the Department of Health and Human Services co-authored the questionnaire, taking primary responsibility for the pension questions and overseeing the development of the Pension Provider Survey. Arthur Kennickell, of the Federal Reserve Board, developed the Federal Reserve Board weights, helped in writing this manual, and played a critical role in the later stages of data cleaning and imputation. He also co-authored the 1986 Survey of Consumer Finances. Many individuals helped in the development of the survey instrument. Particularly noteworthy contributions were made by Glenn B. Canner and James T. Fergus (Federal Reserve Board); Janet Gordon, Melanie Quinn, Peter Struck (Office of the Comptroller of the

Currency); Daniel J. Villegas (Federal Trade Commission); Walter Kolodrubetz (Department of Labor); and Nelson McClung (Office of Tax Analysis). Comments and helpful suggestions were also received from Emily S. Andrews, Stuart B. Avery, Marshall E. Blume, Thomas A. Durkin, Robert M. Fisher, Gary Gilbert, Arnold A. Heggestad, Malcolm Jensen, F. Thomas Juster, Robert W. Johnson, Myron Kwast, Barbara R. Lowrey, Charles A. Luckett, Olivia S. Mitchell, Dorothy S. Projector, Lawrence H. Summers, Cameron Whiteman, and John D. Wolken. Tom Petska, Fritz Scheuren, and Dan Skelly, of the Statistics of Income Division of the Internal Revenue Service, provided the high-income sample and weights. Research assistance for data cleaning and imputation at the Federal Reserve Board was provided by Aliki Antonatos, Oscar Barnhardt, Phoebe Roaf, Julie Rochlin and Julia Springer. Additional assistance was provided by Neil Briskman, William Carbaugh, M. Elizabeth Crowell, Charlotte Jackson, Scott Hedges, Pat Ma, Elaine Peterson, Missi Reinkemeyer, Bob Schmitt, Paul Hughes- Cromwick, and Sharon Ward. WEIGHTS AND I.D. CODES Inclusion of households in the final "cleaned" survey sample results from a series of implicit stratified selection criteria. There are three major sources of implicit stratification: (1) within the area probability sample, certain types of households turned out to be less likely to participate in the survey when selected; (2) the sample is unlikely to fully reflect the U.S. population due to sampling error in the survey itself; and, (3) not all observations turned out to be usable for analysis because of significant missing information due to deliberate or inadvertent actions. Another relevant issue is the fact that two different sampling frames, area probability and IRS tax files, were used to draw observations. Methods used to construct weights to compensate for these sources of stratification and mix the area probability sample and high-income observations are described fully in the summary. This section presents information on specific weighting variables. We should note, that throughout this section, case totals reflect the entire 4,262 observation sample. In all other sections of the manual, case totals reflect the 4,103 observation "cleaned" sample. ENDNOTES 1. The interview questionnaire for the household survey was prepared by Robert B. Avery and Gregory E. Elliehausen, of the Federal Reserve Board, and Thomas A. Gustafson, of the Department of Health and Human Services, with assistance from staffs of the sponsoring agencies. Field work and editing and coding of survey responses was performed under the direction of Richard T. Curtin of the SRC. Mr. Curtin and Timothy Carr and Miles Maxfield, of Mathematica Policy Research, administered the Pension Provider Survey. The Statistics of Income Division of the Internal Revenue Service, provided the high-income sample. 2. A household consists of all the persons who occupy a housing unit or dwelling. Persons missed by the survey will be disproportionately young, because they are college or the military, and old, because they are in nursing homes. The later omission, effecting an estimated 1.4 million people, is the most serious in terms of wealth measurement. However, the failure to include a large number of younger persons is likely to effect the long run

representativeness of the SCF when used as a panel. 3.Non-SMSA counties with less than 2,000 population were linked with adjacent counties to form multi-county PSUs. The SCF sample used the 1970 SRC sampling frame which was selected from a national population of 2,700 PSUs, of which 12 were self-representing. In addition to SMSA status, the 62 nonself-representing strata were designed to take into account the location (Census Region), the population, size of the largest city, and percent manufacturing (urban) or agricultural (rural) employment of each area. In the South Region, the percent black population and a special domain distinction labeled "the Deep South" (South Carolina, Georgia, Alabama, Mississippi, and Louisiana) was also used. By design, the nonselfrepresenting strata are of approximately equal size each totaling between 1.7 and 2.5 million population in 1970. 4. Because New York City is so large, it is treated as though it is made up of two PSUs. Thus, we treat the sample as having 75 PSUs, not 74. 5. The sampling of the second stage units (SSU's) was performed with probability proportionate to size as measured by the 1970 Census count of year-round housing units. In most areas, the largest or "central" city of each sample PSU was included with certainty. The second stage was dropped from the 1980 SRC National Sample design. 6. The units selected in the third stage are termed "chunks." In urbanized areas chunks are defined to be housing units within the land area given by a Census Block. However, Blocks with less than 16 yearround housing units were combined with adjacent Blocks to meet a minimum 16 unit size. In rural areas, chunks were defined to be compact parcels of land with clearly recognizable physical boundaries (roads, rivers, rail lines, etc.) selected with an expected count of 24 year-round housing units. Within SSU's the sample of chunks were selected with probability proportionate to their number of year-round housing units. 7. Once the third stage of selection was complete, SRC personnel performed a complete listing of all housing units within the physical boundaries of each chunk. For the 1983 SCF about three-fourths of the chunks has been previously listed for other surveys; thus only updating of the listings were necessary. These lists formed the basis of selection for the fourth stage of sampling. 8. Housing units were selected randomly within each chunk. The sampling rate was set inversely proportional to the number of yearround housing units within the chunk as determined by the listings. 9. These procedures followed fairly standard SRC methods. For a more detailed description of these methods, see Irene Hess, Sampling for Social Research Surveys: 1947-1980, Ann Arbor: Institute for Social Research, 1985. 10. Unfortunately, because of legal restrictions, knowledge of the exact sampling procedures is restricted to employees of the SOI. The

sample drawn appears to roughly coincide with individuals having an "adjusted gross income," modified for full capital gains and other exclusions, of $100,000 or more in 1980. 11. Actually only the 12 self-representing and 31 of the 62 nonselfrepresenting PSUs were used for the high-income sample list. The decision to exclude high-income households in the remaining nonselfrepresenting PSUs was based on a joint consideration of survey costs and the relatively small expected size of the high-income sample. Because the SOI listings were by address, and the area probability PSUs were defined by county, some slight approximations were used in defining the SOI sample. The actual SOI sample was defined by the ZIP codes corresponding to the SRC sample counties, with the county location of the main post office in a ZIP code used when county and ZIP code boundaries did not correspond exactly. 12. The overall response rate of the high-income mailing (9 percent) may not be quite as bad as it appears. SOI typically has response rates of no more than 20 to 30 percent even for mailings extremely favorable to the respondent. The low 1983 SCF response rate was also caused by the failure to send a followup letter. 13. These procedures differ slightly from the procedures normally used for the selection of household respondent by SRC. Generally, only the economic dominance and age closest to 45 criteria are used. 14. Rates for income non-response were much higher. 1.8 percent of the high-income sample gave no income data, and an additional 4.6 percent gave only partial data. Comparable figures for the edited area probability sample were 5.5 percent and 7.1 percent. Only 2 percent of the discarded area probability sample respondents gave any income data, and these respondents gave only partial data. 15. Means were computed separately for the high-income and crosssection sample on an item-by-item basis and were based only on respondents who gave dollar values. 16. One household was discarded which did not meet these criteria because it reported more than a billion dollars in assets and appeared to be an insincere interview. 17. See Steven G. Heeringa and Richard T. Curtin, "Household Income and Wealth: Sample Design and Estimation for the 1983 Survey of Consumer Finances," Statistics of Income and Related Record Research 1986-1987, Internal Revenue Service 1987. 18. See Michael Strudler, General Descriptive Booklet for the 1982 Individual Tax Model File, Statistics of Income Division, Internal Revenue Service, 1983. 19. An estimate of the standard error due to sampling of the estimated aggregate of each asset and liability category is given in column 2. These figures were computed by calculating the sample variance of each item within each sampling unit (75 area probability PSUs and nine high-income categories). Assuming independence of sample draws across each of these cells, the variance of an asset or debt category total was then calculated as the sum of the variances of each item included in that category weighted by the cell populations.

Because these estimates take the sampling weights as fixed they are likely to understate the true sampling variance of the weighted sums. 20. See, for example, George Katona, Louis Mandell, and Jay Schmeideskamp, 1970 Survey of Consumer Finances, Ann Arbor: Institute for Social Research: 1971. 21. See Thomas A. Durkin and Gregory E. Elliehausen, 1977 Consumer Credit Survey, Washington D.C. :, Board of Governors of the Federal Reserve System, 1978. 22. See Dorothy S. Projector and Gertrude S. Weiss, Survey of Financial Characteristics of Consumers, Washington D.C.: Board of Governors of the Federal Reserve System, 1966. 23. See Robert B. Avery, Gregory E. Elliehausen, Arthur B. Kennickell, and Paul A. Spindt, "The Use of Cash and Transaction Accounts by American Families," Federal Reserve Bulletin 72 (February 1986): pp. 87-108; and Robert B. Avery, Gregory E. Elliehausen, Arthur B. Kennickell, and Paul A. Spindt, "Changes in the Use of Transaction Accounts and Cash from 1984 to 1986," Federal Reserve Bulletin 73 (March 1987): pp. 179-196. 24. Detailed discussion of the survey findings can be found in "Household Wealth and Asset Ownership: 1984," Household Economic Studies Series P-70, No. 7 (July 1986), Bureau of the Census; and John M. McNeil and Enrique J. Lamas, "Year-Apart Estimates of Household Net Worth from the Survey of Income and Program Participation," NBER Conference on Research in Income and Wealth, Baltimore, 1987. Richard T. Curtin, F. Thomas Juster, and James N. Morgan, "Survey Estimates of Wealth: An Assessment of Quality," NBER Conference on Research in Income and Wealth, Baltimore, 1987, provide a detailed comparison of the PSID, SIPP, and 1983 SCF wealth data. 25. The 1986 SCF was co-sponsored by the Federal Reserve Board, the Department of Health and Human Services, The Office of the Comptroller of the Currency, and the General Accounting Office.

VARIABLE LISTING AND DEFINITIONS Observation Code V1 OBSERVATION CODE. This is a unique observation identifier. It corresponds to the case I.D. on the actual interview facesheet. It was assigned chronologically in the order the interviews were processed. xxxx. code (1 to 4288) B3001 SAMPLE CODE. This code indicates which sample the observation is in.

1. high-income sample (438 cases) 2. area probability sample "cleaned" sample (3665 cases) 3. area probability sample excluded observations (159 cases) Full Area Probability Sample weights B3002 NON-RESPONSE ADJUSTMENT FACTOR. This variable adjusts the area probability sample for the first type of stratification cited above. The non-response adjustment factor is computed as the reciprocal of the household response rate of the primary sampling unit (PSU) to which the household belongs (see variable B3013). There are 75 different PSUs in the sample (although there are only 64 unique values for B3002). The range of this variable is 1.055 to 2.924 with a mean of 1.41013 for the full area probability sample. xxxxx. weight times 10000 (10,550 to 29,240) 0. high-income sample (438 cases) B3003 1980 POST-STRATIFICATION WEIGHT. This variable provides one adjustment for the second factor cited above. It adjusts the full area probability sample (weighted by B3002) to have the same total number of households as the 1980 census (excluding Alaska and Hawaii). It separately weights the sample for the four regions of the country (see B3117) further divided by urban (center city and suburbs, B3118 = 1-4) and rural (adjacent and outlying divisions, B3118 = 5-6). Urban/rural distinctions are determined for each observation according to the treatment of its area in the 1970 Census (although population figures are given as of 1980). B3003 takes on only seven possible values, with a mean of 14840.1. 13733. 14133. 14133. 15280. 15400. 15613. 15680. 16319. 0. B3004 urban south (622 cases) urban northeast (562 cases) urban north central (625 cases) rural north central (435 cases) rural northeast (211 cases) urban west (482 cases) rural south (729 cases) rural west (158 cases) high-income sample (438 cases)

1983 POST-STRATIFICATION WEIGHT. This variable is identical to B3003 except that a different post-stratification scheme is used. Observations were grouped into five geographic areas within each U.S. region: (1) central cities of SMSAs with more than 1,000,000 persons (B3119 = 1,2); (2) other areas within SMSAs with more than 1,000,000 persons (B3119 = 4,5); (3) central cities of SMSAs with less than 1,000,000 (B3119 = 3); (4) other areas within SMSAs with less than 1,000,000 (B3119 = 6); and (5) non-SMSA areas (B3119 = 7). SMSA and central city distinctions were made according to 1970 Census definitions, because these were used in the basic sampling frame. The one million person

cutoff, however, was made according to the 1983 estimated population of each 1970-defined SMSA. Post-stratification weights were computed for each of the 20 U.S. areas to blow-up the full area probability sample (adjusted for non-response) into the estimated 1983 U.S. total of 83,918,000 households (and the 20 sub-groups as well). Unlike B3003, the post-stratification for the western region in B3004 includes Alaska and Hawaii. This ex-post weighting scheme is essentially the same as that used by the Census Bureau in reporting the March 1983 CPS survey, which used a similar sampling strategy as that of the SCF. 9235. northeast, suburban, less than 1,000,000 in the SMSA (215 cases) 10801. north central, suburban, less than 1,000,000 in the SMSA (188 cases) 13123. south, suburban, less than 1,000,000 in the SMSA (265 cases) 14112. north central, non-SMSA (404 cases) 14274. north central, center city, less than 1,000,000 in the SMSA (150 cases) 14958. south, non-SMSA (652 cases) 15191. west, center city, more than 1,000,000 in the SMSA (131 cases) 15533. north central, center city, more than 1,000,000 in the SMSA (144 cases) 15833. south, suburban, more than 1,000,000 in the SMSA (153 cases) 16081. west, non-SMSA (158 cases) 16500. northest, center city, more than 1,000,000 in the SMSA (144 cases) 16665. northeast, suburban, more than 1,000,000 in the SMSA (192 cases) 17077. northeast, non-SMSA (149 cases) 17202. south, center city, more than 1,000,000 in the SMSA (92 cases) 18123. west, suburban, less than 1,000,000 in the SMSA (106 cases) 18427. west, suburban, more than 1,000,000 in the SMSA (163 cases) 18439. northeast, center city, less than 1,000,000 in the SMSA (73 cases) 19621. west, center city, less than 1,000,000 in the SMSA (82 cases) 19973. south, center city, less than 1,000,000 in the SMSA (189 cases) 21608. northeast, suburban, more than 1,000,000 in the SMSA (174 cases) 0. high-income sample (438 cases) B3005 FULL SAMPLE 1983 COMPOSITE WEIGHT. This variable is equal to the non-response adjustment factor weight (B3002) times the 1983 post-stratification weight (B3004). THIS IS THE RECOMMENDED WEIGHT TO USE WITH THE FULL AREA PROBABILITY SAMPLE. This weight will "blow up" the 3,824 observation full area probability sample into the aggregate U.S. household population (including Alaska and Hawaii) as measured by the 1983 CPS. The average value of B3005 is 21,945.3 and it totals 83,918,807. xxxxx. weight (10,860 to 50,299) 0. high-income sample (438 cases)

"Cleaned" Area Probability Sample Weights B3006 INCLUSION PROBIT PREDICTED VALUE. This variable is the "y-hat" of the "cleaned" area probability sample inclusion probit model. xxxxx. "y hat" times 10000 (2,111 to 48,565) 0. high-income sample (438 cases) B3007 CLEANED SAMPLE INCLUSION WEIGHT. This variable is the inverse of the estimated probability that an observation would be included in the cleaned area probability sample, given it is in the full area probability sample. Its average is 1.04313. This variable will blow the cleaned sample up into the full sample. xxxxx. weight times 10000 (10,000 to 17,135) 0. high-income sample or excluded area probability sample (597 cases) B3008 CLEANED AREA PROBABILITY 1980 POST-STRATIFICATION WEIGHT. This variable will post-stratify the cleaned area probability sample to the household totals and regional distribution of the 1980 Census. It is approximately equal to B3003 times B3007 (the post-stratification was changed slightly). This variable times B3002 (divided by 10,000) is the variable used to weight the data presented in the September 1984 and December 1984 Federal Reserve Bulletin articles on the 1983 SCF. The average value of this weight is 15,496.5 for the 3,665 observations in the cleaned sample. xxxxx. weight (13,958 to 25,536) 0. high-income or excluded area probability sample (597 cases) B3009 CLEANED AREA PROBABILITY 1983 POST-STRATIFICATION WEIGHT. This variable will post-stratify the cleaned area probability sample to the household totals by region in the 1983 CPS. It is approximately equal to B3004 times B3007. The average value of this weight is 16,217.9 for the 3,665 observations in the cleaned sample. xxxxx. weight (9,276 to 35,950) 0. high-income or excluded area probability sample (597 cases) B3010 CLEANED-SAMPLE 1983 COMPOSITE WEIGHT. This variable is equal to the non-response adjustment factor weight (B3002) times the post-stratification weight (B3009). THIS IS THE RECOMMENDED WEIGHT TO USE WITH THE CLEANED AREA PROBABILITY SAMPLE. This weight will blow the 3,665 observation area probability sample up into the aggregate (including Alaska and Hawaii) U.S. household population as

measured by the 1983 CPS. The average value of B3010 is 22,897.4 and it totals 83,919,054. xxxxx. weight (10,974 to 56,337) 0. high-income or excluded area probability sample (597 cases) B3011 INCLUSION ERROR EXPECTATION. This variable is the expectation of the underlying latent variable error in the cleaned area probability sample probit inclusion equation conditioned on an observation appearing in the cleaned sample (the Mills ratio). Use of this variable as an independent regressor in estimating analytic models may at least partially correct for sample selection bias. xxxxx. error expectation times 10000 (9,370 to 50,409) 0. high-income or excluded area probability sample (597 cases) High-income and Total Sample Weights B3012 HIGH-INCOME SAMPLE WEIGHTS. This variable is given only for the high-income sample and gives relative sampling weights within that sample as computed by the IRS and the Office of Tax Analysis. This weight should generally be the one used when performing analysis using only the high-income sample. B3012 takes on only nine different values ranging from 60 to 2,533. The nine different classes reflect the original sampling frame and are based primarily on income. The mean of B3010 is 1,280.34. 60. 121. 201. 261. 442. 1528. 2191. 2472. 2533. 0. B3013 (19 cases) (100 cases) (48 cases) (16 cases) (21 cases) (58 cases) (21 cases) (46 cases) (109 cases) area probability sample (3824 cases)

FULL SAMPLE PSU CODE. This variable gives a unique sampling cell number to all observations in the sample. This variable can be used in forming weights. Values 1 through 9 are the nine cells in B3012 for the high-income observations. The remainder indicate area probability sample PSUs. Values 10 through 22 are self-representing PSUs. Values 23 through 54 are PSUs primarily in SMSAs and urban areas. Values 55 through 84 imply PSUs primarily in rural counties. xx. cell number (1 to 84)

B3014

FULL SAMPLE SRC COMPOSITE WEIGHT. This weight combines the non-response weight (B3002), the 1980

post-stratification weight (B3003), high-income weights (B3010), and an income-based adjustment to mesh the full area probability sample with the high-income sample. The income adjustment is very slight for those area probability sample observations with incomes below $50,000. Area probability sample observations in higher income strata will have a much more significant reduction in their weight. The high-income sample weights are essentially the same as B3012 times 2, with a slight population adjustment. B3014 will blow the full sample up into the aggregate 1980 U.S. household population. xxxxx. weight (173 to 40,069) B3015 FULL CLEANED SAMPLE SRC COMPOSITE WEIGHT. This variable is identical to B3014 except that it applies to the cleaned area probability sample and uses the 1983 post-stratification weight B3009. This is the weight that was used for the March 1986 Federal Reserve Bulletin article. xxxxx. weight (182 to 56,264) 0. excluded area probability sample observations (159 cases) B3016 EXTENDED INCOME FRB WEIGHT. This is a full sample weight which should be similar to B3015 in use. It was constructed by post-stratification to the 1982 IRS tables using extended income (see the summary for a description). THIS IS THE RECOMMENDED FULL SAMPLE WEIGHT. The total number of implied households is 83,917,975, with a mean weight of 20452.8 No missing values. xxxxx. weight (546 to 56,473) 0. excluded area probability sample observations (159 cases) B3017 REVISED SRC AREA PROBABILITY WEIGHT. This variable is the revised SRC weight as of 1987. It takes into account the removal of the 159 excluded area probability cases, and post-stratifies to July 1, 1983 Census population figures. xxxxx. weight (16,529 to 44,471) 0. high-income and excluded area probability sample observations (597 cases) B3018 REVISED SRC HIGH-INCOME WEIGHT. This variable is the revised SRC high-income sample weight as of 1987. This weight takes into account different response rates from the self-representing and other PSUs for the initial SOI sampling. xxxx. weight (59 to 11,783) 0. area probability sample (3824 cases) B3019 REVISED SRC COMPOSITE WEIGHT.

This variable is the revised SRC composite weight as of 1987. It combines B3017 and B3018 and is designed to be used with the full 4103 sample. xxxxx. weight (60 to 43,601) 0. excluded area probability sample observations (159 cases) Pension Provider Survey (H) Head (husband if Married) (S) Spouse (wife) B3031 (H) B3053 (S) COMPLETION CODE. This variable is a constructed variable indicating whether or not the Pension Provider Survey was successfully completed. 1. the Pension Provider Survey completed and coded (1181/460 cases) 2. the Pension Provider Survey contact made, but the survey could not be coded (288/67 cases) 3. permission for the Pension Provider Survey given, but could not contact the pension provider (18/3 cases) 4. permission for the Pension Provider Survey given and contact made; however, respondent/spouse actually not eligible for pension and should not have been asked for pension information (38/6 cases) 5. eligible for the Pension Provider Survey, but permission and/or the name of the pension provider not given (147/53 cases) 6. not eligible for Pension Provider Survey (2590/2147 cases) 0. INAP, no spouse (0/1526 cases) B3032 (H) B3054 (S) PENSION CORRESPONDENCE. This variable indicates which job identified at the interview as appropriate for the Pension Provider Survey. If the Pension Provider Survey was completed, this variable indicates which job it applies to. 1. Pension Provider Survey corresponds to current job (1537/544 cases) 2. Pension Provider Survey corresponds to the job before retired/disabled or the last paid job if a student or housewife (44/28 cases) 3. Pension Provider Survey corresponds to longest prior job (83/16 cases) 4. Pension Provider Survey corresponds to the job from which respondent expects to or now receives a pension (8/1 cases) 0. INAP, no Pension Provider job information given or no spouse (2590/3673 cases) question: X14/X15

B3033 B3038 B3043 B3048 B3055 B3060 B3065 B3070

(H,#1) (H,#2) (H,#3) (H,#4) (S,#1) (S,#2) (S,#3) (S,#4)

PENSION PROVIDER SURVEY PENSION PROVIDER ID NUMBER. This variable indicates the four digit number assigned to the pension provider sought for this observation. Answered Answered only if contact with the pension provider was sought (B3031 or B3053 coded 1 to 4). Normally only one provider was sought per person. In about ten cases, however, it turned out that an individual had two providers (usually with two plans). In these instances B3033 may be different than B3038 etc. It was common, though, for the person to be in multiple plans provided by the same provider. This will be indicated in the file by the variable B3035 etc. The variable B3033 etc. corresponds to the variable V3 (PPID) in the Provider Survey file.

xxxx. code (5001-8033) 0. INAP not in Pension Provider Survey, no spouse, or not that many plans (2737/4132/4239/4261 3726/4219/4258/4262 cases) B3034 B3039 B3044 B3049 B3056 B3061 B3066 B3071 (H,#1) PENSION PROVIDER SURVEY RESULT CODE. (H,#2) This variable indicates the result of the Pension Provider (H,#3) Survey inquiry for this observation and this plan. Answered (H,#4) only if contact with the pension provider was sought (B3031 (S,#1) or B3053 coded 1 to 4). Except in a few instances this (S,#2) variable will have the same value for all plans of a person. (S,#3) (S,#4) 1. complete interview (1181/125/22/1/460/42/4/0 cases) 2. partial interview -- no SPD (129/1/0/31/0/0/0 cases) 3. complete interview but incomplete SPD (72/4/1/0/10/1/0/0 cases) 4. refusal by provider to complete interview (87/0/0/0/26/0/0/0 cases) 5. no pension plan at provider (28/0/0/0/4/0/0/0 cases) 6. pension plan at provider but respondent/spouse job not covered (10/0/0/0/2/0/0/0 cases) 7. inadequate or incorrect name/address of provider given (4/0/0/0/1/0/0/0 cases) 8. could not locate provider (14/0/0/0/2/0/0/0/0 cases) 0. INAP not in Pension Provider Survey, no spouse, or not that many plans (2737/4132/4239/4261 3726/4219/4258/4262 cases) (H,#1) (H,#2) (H,#3) (H,#4) (S,#1) (S,#2) (S,#3) (S,#4) xxx. -8. -9. 0. PENSION PROVIDER SURVEY PENSION PLAN NUMBER. This variable indicates the three digit pension plan number assigned to this particular observation in the Pension Provider Survey. Answered only if the Pension Provider Survey was successfully coded (B3031 or B3053 coded 1). This number is should be used in combination with the Provider ID for a unique identification of the plan/provider. It corresponds to to variable V4 (PLAN #) in the Provider Survey file. code (1-997) plan number not assigned (30/0/0/0/31/1/0/0 cases) NA, no official plan number (270/11/1/0/151/9/0/0 cases) INAP not in Pension Provider Survey, no spouse, or not that many plans (3081/4137/4240/4261

B3035 B3040 B3045 B3050 B3057 B3062 B3067 B3072

3802/4220/4258/4262 cases) B3036 B3041 B3046 B3051 B3058 B3063 B3068 B3073 (H,#1) (H,#2) (H,#3) (H,#4) (S,#1) (S,#2) (S,#3) (S,#4) PENSION PROVIDER SURVEY PENSION PLAN SEQUENCE NUMBER. This variable indicates the sequence code number of the Pension Provider Survey plan which corresponds to the observation. Answered only if the Pension Provider Survey was successfully coded (B3031 or B3053 coded 1). Both head and spouse could have up to four different pension plan sequence IDs. This variable corresponds to the variable V2 (SEQ #) in the Provider Survey file.

xxxx. code (1-1132) 0. INAP not in Pension Provider Survey, no spouse, or not that many plans (3081/4137/4240/4261 3802/4220/4258/4262 cases) B3037 B3042 B3047 B3052 B3059 B3064 B3069 B3074 (H,#1) (H,#2) (H,#3) (H,#4) (S,#1) (S,#2) (S,#3) (S,#4) PENSION PROVIDER SURVEY PENSION INTERVIEW CODING ID. This variable indicates the code number of the Pension Provider Survey plan which corresponds to the observation. Answered only if the Pension Provider Survey was successfully coded (B3031 or B3053 coded 1). Both Head and Spouse could have up to four different Pension Plans IDs, although only one pension provider contact was made for each individual. This occurred because some pensions had multiple plans and parts. This variable correspondes to the variable V1 (CODING ID) in the Provider Survey file. If the code is between 1 and 2,999 then it indicates that the plan is a defined benefit plan. If the code is between 3,000 and 4,999 then the plan is a defined benefit plan. If the code is 5,000 or over then it signifies a mixed defined benefit/contribution plan.

xxxx. code (1-5043) 0. INAP not in Pension Provider Survey, no spouse, or not that many plans (3081/4137/4240/4261 3802/4220/4258/4262 cases)

1986 Survey of Consumer Finances B3075 1986 SURVEY OF CONSUMER FINANCES CONTACT STATUS. This variable indicates the status of the household in the 1986 Survey of Consumer Finances. 1. excluded area probability observation, not used for either 1983 or 1986 samples (159 cases) 2. household interviewed in 1983 but not in 1986 (1322 cases) 3. household interviewed in 1986 as an intact unit (2612 cases) 4. household split in 1986, both respondent and spouse interviewed separately (41 cases, thus 82 cases in 1986) 5. household split in 1986, only one part (respondent or spouse) interviewed (128 cases) B3076 (H) 1986 SURVEY OF CONSUMER FINANCES LOCATION CODE.

B3078 (S)

This variable indicates whether the 1983 head (and/or spouse) participated in the 1986 Survey of Consumer Finances. No missing values. 1. head/spouse married in 1983, still married in 1986 and interviewed in 1986 (counted as one 1986 observation) (1748/1748 cases) 3. head/spouse married in 1983, still married in 1986 and couple found but refused interview in 1986 (284/284 cases) 4. head/spouse married in 1983, still married in 1986 and couple could not complete interview because of physical inability of respondent in 1986 (8/8 cases) 5. head/spouse married in 1983, still married in 1986 and couple could not complete interview because of language problem in 1986 (7/7 cases) 6. head/spouse married in 1983, still married in 1986 and couple could not complete interview because household was overseas during entire study period in 1986 (7/7 cases) 7. head/spouse married in 1983, 1986 marital status unknown, neither respondent nor spouse could be located in 1986 (229/229 cases) 8. head/spouse married in 1983, 1986 marital status unknown, household not included for 1986 survey because it refused to give either address or phone recontact information in 1983 (46/46 cases) 9. head/spouse married in 1983, 1986 marital status unknown, household not included for 1986 survey because excluded by SRC randomly (109/109 cases) 10. head/spouse married in 1983, 1986 marital status unknown, household not included for 1986 survey because it was in the excluded area probability sample in 1983 (it did give recontact information, however) (93/93 cases) 11. head/spouse married in 1983, no longer together in 1986 and head (or spouse) interviewed in 1986 (thus if both B3040 and B3042 are coded 11 the household counts as two 1986 observations, if only one is coded 11 then it counts as one 1986 observation) (88/112 cases) 12. head/spouse married in 1983, no longer together in 1986 and head (or spouse) gave a partial interview in 1986 (not treated as a 1986 observation) (9/9 cases) 13. head/spouse married in 1983, no longer together in 1986 and head (or spouse) found but refused interview in 1986 (5/12 cases) 14. head/spouse married in 1983, no longer together in 1986 and head (or spouse) could not complete interview because of physical inability in 1986 (3/3 cases) 16. head/spouse married in 1983, no longer together in 1986 and head (or spouse) could not complete interview because household was overseas during entire study period in 1986 (0/1 cases) 17. head/spouse married in 1983, head (or spouse) deceased in 1986 (73/36 cases) 18. head/spouse married in 1983, no longer together in 1986 and head (or spouse) could not be located in

1986 (23/20 cases) 19. head/spouse living as partners in 1983, no longer together in 1986 and head (or spouse) was not pursued for an interview in 1986 (4/2 cases) 21. respondent not married in 1983, interviewed in 1986 (counted as one 1986 observation) (864/0 cases) 23. respondent not married in 1983, respondent found but refused interview in 1986 (131/0 cases) 24. respondent not married in 1983, respondent could not complete interview because of physical inability in 1986 (14/0 cases) 25. respondent not married in 1983, respndent could not complete interview because of language problem in 1986 (3/0 cases) 26. respondent not married in 1983, could not complete interview because respndent was overseas during entire study period in 1986 (4/0 cases) 27. respondent not married in 1983, respondent deceased in 1986 (45/0 cases) 28. respondent not married in 1983, respondent could not be located in 1986 (253/0 cases) 29. respondent not married in 1983, household not included for 1986 survey because it refused to give address or phone recontact information in 1983 (35/0 cases) 30. respondent not married in 1983, household not included for 1986 survey because it was excluded by SRC randomly (126/0 cases) 31. respondent not married in 1983, household not included for 1986 survey because it was in the excluded area probability sample in 1983 (it did give recontact information, however) (51/0 cases) 0. INAP, no spouse (0/1526 cases) B3077 (H) B3079 (S) 1986 SURVEY OF CONSUMER FINANCES ID CODE. This variable is the 1986 ID code (V1 number) corresponding to the head (and spouse in B3043 if interviewed separately). xxxx. ID number (17-7340) 0. INAP, household excluded from 1986 survey or no spouse (460/1774 cases) HOUSEHOLD DEMOGRAPHICS Persons in Household B3101 TOTAL NUMBER OF PERSONS IN HOUSEHOLD (PRIMARY FAMILY). This is the total number of people in the household (or primary family) referred to throughout the questionnaire. It excludes all non-related persons who live in the household unit (dwelling) but are not in the primary family. This variable corresponds to the Census Bureau's terms "family" or "non-family householder" and SRC's term "family unit." As indicated in the summary, for household units with multiple families, only the primary family was interviewed. Household composition is taken from the interviewer coding sheet. No

missing values. 1. 2. 3. 4. 5. 6. 7. 8. 9. 11. 13. B3102 one (938 cases) two (1272 cases) three (717 cases) four (683 cases) five (307 cases) six (115 cases) seven (40 cases) eight (21 cases) nine (7 cases) eleven (2 cases) thirteen (1 case)

TOTAL NUMBER OF PERSONS IN HOUSEHOLD 18 OR OLDER. This total excludes any non-related persons who live in the household structure but are not in the primary family. Age is determined from the interviewer coding sheet. Even if the respondent or spouse are under 18 he/she will be included here. No missing values. 1. 2. 3. 4. 5. 6. 7. 8. one (1169 cases) two (2232 cases) three (482 cases) four (169 cases) five (34 cases) six (15 cases) seven (1 case) eight (1 case)

B3103

TOTAL NUMBER OF PERSONS IN HOUSEHOLD 65 OR OLDER. This total excludes any non-related persons who live in the household structure but are not in the primary family. Age is determined from the interviewer coding sheet. No missing values. 1. 2. 3. 4. 0. one (588 cases) two (320 cases) three (6 cases) four (1 case) no household members 65 or older (3188 cases)

B3104

TOTAL NUMBER OF PERSONS IN HOUSEHOLD UNDER 18. This total excludes any non-related persons who live in the household structure but are not in the primary family. Age is determined from the interviewer coding sheet. Respondent or spouse are not included here even if under 18 (B3104 plus B3102 will equal B3101). No missing values. 1. 2. 3. 4. 5. 6. 7. 8. one (667 cases) two (624 cases) three (228 cases) four (71 cases) five (27 cases) six (5 cases) seven (6 cases) eight (2 cases)

0. no household members under 18 (2473 cases) B3105 AGE OF YOUNGEST CHILD UNDER 18. Excludes any non-related persons who live in the household structure but are not in the primary family. It includes all children under 18, not just the children of the respondent and/or spouse. Age is determined from the interviewer coding sheet. Respondent or spouse are not listed here even if under 18. No missing values. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 0. B3106 one (288 cases) two (158 cases) three (88 cases) four (92 cases) five (84 cases) six (82 cases) seven (76 cases) eight (79 cases) nine (75 cases) ten (76 cases) eleven (73 cases) twelve (77 cases) thirteen (82 cases) fourteen (66 cases) fifteen (64 cases) sixteen (84 cases) seventeen (86 cases) no household members under 18 (2473 cases)

AGE OF OLDEST CHILD UNDER 18. Excludes any non-related persons who live in the household structure but are not in the primary family. Age is determined from the interviewer coding sheet. Respondent or spouse are not listed here even if under 18. No missing values. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 0. one (114 cases) two (81 cases) three (69 cases) four (64 cases) five (67 cases) six (70 cases) seven (64 cases) eight (75 cases) nine (77 cases) ten (79 cases) eleven (81 cases) twelve (89 cases) thirteen (95 cases) fourteen (104 cases) fifteen (112 cases) sixteen (175 cases) seventeen (214 cases) no household members under 18 (2473 cases) NUMBER OF CHILDREN OF RESPONDENT/SPOUSE NOT LIVING WITH THEM.

B3107

Indicates the number of children of either the respondent or spouse not living in the household (thus not included in totals above). This should include children of previous marriages living with former spouses or older children in college or on their own. No persons listed on the interviewer coding sheet (see B3125 - B3154) are included here. No missing values. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 16. 17. 0. one (565 cases) two (628 cases) three (421 cases) four (257 cases) five (121 cases) six (73 cases) seven (34 cases) eight (17 cases) nine (13 cases) ten (5 cases) eleven (5 cases) twelve (4 cases) thirteen (1 case) sixteen (1 case) seventeen (1 case) none (1957 cases)

question: R63/R63a B3108 TOTAL NUMBER OF CHILDREN OF RESPONDENT AND/OR SPOUSE. The total number of living children of respondent and/or spouse including those not living in the household (B3107 plus children of respondent and/or spouse included in B3104). No missing values. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 17. B3109 one (633 cases) two (1071 cases) three (672 cases) four (418 cases) five (233 cases) six (117 cases) seven (69 cases) eight (45 cases) nine (22 cases) ten (15 cases) eleven (10 cases) twelve (4 cases) thirteen (4 cases) fourteen (2 case) seventeen (2 case) 0. none (786 cases)

HOUSEHOLD UNIT COMPOSITION CODE. Type of household unit. Describes residents of the household unit or dwelling. 1. nuclear family -- single persons living by themselves or only with spouse and/or children (3634 cases) 2. extended family -- nuclear family plus other related persons living in the household (brother, parent, etc.) (296 cases)

3. unrelated persons only -- household dwelling includes only respondent plus other unrelated individuals (roommates etc.) These individuals would be termed unrelated individuals or residents of group quarters by the Census Bureau (133 cases) 4. nuclear family plus -- household dwelling includes nuclear family (respondent plus spouse and/or children) plus at least one unrelated individual (a Census defined unrelated subfamily, formerly called a secondary family, or an unrelated individual) (31 cases) 5. extended family plus -- household dwelling includes extended family (respondent plus other relatives) plus at least one unrelated individual (a Census defined unrelated subfamily or unrelated individual) (9 cases) Household Characteristics B4503 AGE OF HEAD BY DATE OF BIRTH. The head is the respondent for single persons and the husband for married couples. No missing values. xx. years (15-98) B3110 AGE OF HEAD BY DATE OF BIRTH -- RECODE. A recode of B4503. 1. 2. 3. 4. 5. 6. 7. B3126 under 25 (295 cases) 25-34 (862 cases) 35-44 (777 cases) 45-54 (680 cases) 55-64 (673 cases) 65-74 (527 cases) 75 and over (289 cases)

SEX OF HEAD. The head is the respondent for single persons and the husband for married couples. No missing values. 1. male (3135 cases) 2. female (968 cases)

B3111

RACE OF HOUSEHOLD. Variable is the observed race of the survey respondent. All missing values were imputed using census data and other sources. 1. 2. 3. 4. 5. caucasion except hispanic (3468 cases) black except hispanic (478 cases) hispanic (111 cases) American indian or Alaskan native (9 cases) Asian or pacific islander (37 cases)

question: X3

B3112

MARITAL STATUS OF RESPONDENT. No missing values (no imputations were needed). 1. married (includes common-law marriage or couples living together as "partners") (2635 cases) 2. separated (144 cases) 3. divorced (431 cases) 4. widowed (442 cases) 5. never married (451 cases) question: R59

B3113

EDUCATION OF HEAD -- RECODE. A recode of B4505 through B4507. The head is the respondent for single persons and the husband for married couples. 1. 2. 3. 4. 5. 0-8 grades (560 cases) 9-12 grades, no high school diploma (511 cases) high school diploma or equivalent, no college (1201 cases) some college, no college degree (678 cases) college degree (1153 cases)

B3114

OCCUPATION OF HEAD -- RECODE. Recode of current job if working, or previous job if retired, disabled, or unemployed. The head is the respondent for single persons and the husband for married couples. 1. 2. 3. 4. 5. 6. 7. 8. professional, technical, and kindred workers (640 cases) managers and administrators (except farm) (642 cases) self-employed managers (234 cases) sales, clerical, and kindred workers (518 cases) craftsmen, protective service, and kindred workers (675 cases) operatives, laborers, and service workers (1167 cases) farmers and farm managers (92 cases) miscellaneous (members of armed services, housewives, students, never worked, and other occupations) (135 cases) LABOR FORCE PARTICIPATION -- RECODE 1. 2. 3. 4. 5. single household, not in labor force (635 cases) single household, in labor force (833 cases) respondent and spouse household, neither in labor force (389 cases) respondent and spouse household, one in labor force (1077 cases) respondent and spouse household, both in labor force (1169 cases)

B3115

B3116

LIFE-CYCLE STAGE OF HOUSEHOLD. The head is the respondent for single persons and the husband for married couples. No missing values. 1. neither respondent or spouse 65 or over, with some relative of respondent or spouse, over age 18, living in household, but no relatives under 18 (1040 cases) 2. neither respondent or spouse 65 or over, no other relatives living in household (623 cases)

3. either respondent or spouse 65 or over, with some relative of respondent or spouse, over age 18, living in household, but no relatives under 18 (495 cases) 4. either respondent or spouse 65 or over, no other relatives living in household (315 cases) 5. head married, relatives 18 or under living in household (1238 cases) 6. female-headed household (must be single), relatives 18 or under living in the household, but no relative over 18 (270 cases) 7. unmarried head, relatives 18 or under in the household, and either male-headed or female-headed with other relatives over 18 present (122 cases) B3201 TOTAL 1982 HOUSEHOLD INCOME. Total reported income. No missing values. xxxxxxx. dollars (-24,062 to 3,425,887) B3203 TOTAL 1982 HOUSEHOLD INCOME -- RECODED. A recode of B3201. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. less than $5,000 (351 cases) $5,000-7,499 (298 cases) $7,500-9,999 (263 cases) $10,000-14,999 (525 cases) $15,000-19,999 (457 cases) $20,000-24,999 (385 cases) $25,000-29,999 (326 cases) $30,000-39,999 (462 cases) $40,000-49,999 (255 cases) $50,000 and more (781 cases) Geographic Location B3117 REGION OF THE COUNTRY. Not given for the high-income sample. 1. northeast (Maine, Massachusetts, Connecticut, New York, New Jersey, Pennsylvania) (737 cases) 2. north central (Ohio, Indiana, Illinois, Michigan, Wisconsin, Minnesota, Missouri, Nebraska, Iowa, South Dakota) (1016 cases) 3. south (Virginia, North Carolina, South Carolina, Georgia, Florida, Alabama, Mississippi, Louisiana, Arkansas, Tennessee, Texas, Oklahoma, Kentucky, Maryland, District of Columbia, West Virginia) (1289 cases) 4. west (Colorado, Utah, Arizona, California, Oregon, Washington) (623 cases) 0. high-income sample (438 cases) B3118 BELT CODE. This variable was coded according to the 1970 Census with additions from census population reports. It was used for the 1980 post-stratification weight (B3003). Not given for the high-income sample.

1. central cities of the two Standard Consolidated Areas (SCA's) plus the ten largest SMSA's -- New York, Los Angeles, Chicago, Philadelphia, Boston, Washington, Baltimore, Detroit, San Francisco, St Louis, Cleveland, Pittsburgh. These are the self-representing PSUs (316 cases) 2. central cities of other SMSA's (648 cases) 3. suburbs of the two SCA's or ten largest SMSA's. Suburbs are defined as all urbanized areas within the SMSA exclusive of the central city plus the remainder of any county containing a central city or part of a central city (516 cases) 4. suburbs of other SMSA's (714 cases) 5. adjacent areas. An adjacent area includes all territory beyond the outer boundary of the suburban belt, but within fifty miles of the central business district of a central city. This can still be in the SMSA (844 cases) 6. outlying areas. An outlying area includes all territory more than fifty miles from the central business district of a central city. This can still be in the SMSA (627 cases) 0. high-income sample (438 cases) B3119 1970 SMSA CODE. This variable was coded according to SMSA territorial definitions defined as of 1970 (although the population cutoff was made using 1983 population figures). This variable was used for the 1983 post-stratification weights (B3004). Not given for the high-income sample. 1. central cities of SMSAs with more than 1,000,000 in 1983 (488 cases) 2. central cities of SMSAs with less than 1,000,000 in 1983 (476 cases) 3. other, non-central city, areas within SMSAs with 1,000,000 population in 1983 (648 cases) 4. other, non-central city, areas within SMSAs with 1,000,000 population in 1983 (743 cases) 5. areas not in an SMSA (1310 cases) 0. high-income sample (438 cases) B3120 population population more than less than

1983 SMSA CODE. This variable was coded according to SMSA territorial definitions as of March 1983. Not given for the high-income sample. 1. central cities of SMSAs with more than 1,000,000 in 1983 (494 cases) 2. central cities of SMSAs with less than 1,000,000 in 1983 (548 cases) 3. other, non-central city, areas within SMSAs with 1,000,000 population in 1983 (642 cases) 4. other, non-central city, areas within SMSAs with 1,000,000 population in 1983 (850 cases) 5. areas not in an SMSA (1131 cases) 0. high-income sample (438 cases) population population more than less than

B3121

STATE. Observations from only 37 states (plus D.C.) are included in the survey. This code is given to help facilitate data matches. The individual state data, however, are not representative and should not be used to represent the state. The SCF was designed to be representative for a unit no smaller the four census regions of the country subdivided into urban and rural. Use of individual state data, therefore, may lead to very misleading results. Some states, for example, are represented only by rural sampling units, and others by only urban sampling units. The code given is the same as the census FIPS code. Derived from actual location of sample address. Not given for the high-income sample. 1. 4. 5. 6. 8. 9. 11. 12. 13. 17. 18. 19. 21. 22. 23. 24. 25. 26. 27. 28. 29. 31. 34. 36. 37. 39. 40. 41. 42. 45. 46. 47. 48. 49. 51. 53. 54. 55. 0. Alabama (35 cases) Arizona (39 cases) Arkansas (166 cases) California (325 cases) Colorado (46 cases) Connecticut (66 cases) District of Columbia (6 cases) Florida (152 cases) Georgia (109 cases) Illinois (194 cases) Indiana (50 cases) Iowa (87 cases) Kentucky (79 cases) Louisiana (82 cases) Maine (33 cases) Maryland (38 cases) Massachusetts (101 cases) Michigan (169 cases) Minnesota (59 cases) Mississippi (46 cases) Missouri (98 cases) Nebraska (47 cases) New Jersey (131 cases) New York (213 cases) North Carolina (159 cases) Ohio (214 cases) Oklahoma (55 cases) Oregon (71 cases) Pennsylvania (193 cases) South Carolina (76 cases) South Dakota (63 cases) Tennessee (66 cases) Texas (107 cases) Utah (66 cases) Virginia (70 cases) Washington (76 cases) West Virginia (43 cases) Wisconsin (35 cases) high-income sample (438 cases) Respondent

B3122

SURVEY RESPONDENT.

This is the individual with whom the survey was conducted (though others may have been present at the interview and also supplied answers). For dwelling units with multiple individuals the selection of the survey respondent followed the procedures described in the summary. Briefly, the interviewer determined the "economically dominant" household member. This was the person that owned or rented the home, or provided the most income. Economic dominance was sometimes difficult to determine, but generally implied the main breadwinner or the most economically active. In the case of ties, the household member closest to age 45 was selected. The family of the economically dominant individual (all household members related to them by blood, marriage, or adoption) was the survey unit (primary family). The survey respondent was the economically dominant individual or their spouse, whichever was determined to be the "most knowledgeable about family finances". The variable coded here indicates whether the head (husband, if married) or spouse (wife) was the actual respondent. 1. head (3040 cases) 2. spouse (1063 cases) B3123 SEX OF RESPONDENT 1. male (2072 cases) 2. female (2031 cases) question: X1 Household Unit (Dwelling) Residents B3124 TOTAL NUMBER OF PERSONS LIVING IN THE HOUSEHOLD UNIT/DWELLING. This includes all persons in the primary family, plus any other unrelated non-family household members who share the same dwelling unit. Persons listed here thus correspond to members of what the Census Bureau refers to as the household (or group quarters) and SRC calls residents of the household unit. Individuals are included as residents of the household unit if: (1) it wa their usual and only place of residence (even if absent at the time of the interview); or (2), he/she was physically living in the household unit at the time of the interview and a place of residence was maintained for them there (thus he/she could have other residences). A listing of the individuals living in the household unit is given in the variables (B3125 - B3154). Information is available for each individual on their age, sex, membership in the survey household, and relationship to the head (husband, if married) of the primary family. 1. 2. 3. 4. 5. 6. 7. one (805 cases) two (1360 cases) three (738 cases) four (697 cases) five (313 cases) six (118 cases) seven (39 cases)

8. 9. 11. 13. B3125 B3128 B3131 B3134 B3137 B3140 B3143 B3146 B3149 B3152

eight (23 cases) nine (7 cases) eleven (2 cases) thirteen (1 case) INDIVIDUAL'S RELATIONSHIP TO HOUSEHOLD HEAD. Unrelated individuals (codes 31-39) are not included in the primary family (survey household). Characteristics of up to ten individuals in the household unit are given, with information as recorded on the interviewer coding sheet. No missing values. 1. head (husband, if married) (always in position #1) (4103/0/0/0/0/0/0/0/0/0 cases) 2. spouse (wife) (always in position #2, if applicable) (0/2555/0/0/0/0/0/0/0/0 cases) 3. "partner" or "common-law spouse" (wife) (always in position #2, if applicable. This is treated as a married spouse in answering throughout the survey) (0/80/0/0/0/0/0/0/0/0 cases) 4. child (and in-laws or step-children) (0/422/1787/1099/418/140/50/19/6/2 cases) 5. grandchild (and in-laws or step-grandchildren) (0/11/27/31/28/17/10/7/3/1 cases) 6. parent (and in-laws or step-parents) (0/40/39/17/15/10/2/3/0/0 cases) 7. grandparent (and in-laws or step-grandparents) (0/4/1/2/0/0/0/0/0/0 cases) 8. aunt/uncle (and in-laws or step-) (0/1/1/0/0/0/0/0/0/0 cases) 9. cousin (and in-laws or step-) (0/3/2/2/1/0/0/0/0/0 cases) 10. niece/nephew (and in-laws or step-) (0/6/9/9/7/4/1/0/0/0 cases) 11. brother/sister (and in-laws or step-) (0/41/24/14/24/14/8/2/1/0 cases) 12. great-grandchildren (and in-laws or step-) (0/1/2/2/0/0/0/0/0/0 cases) 29. other relative (card given) (0/1/1/0/0/1/0/0/0/0 cases) 31. roommate -- not included in survey household (0/95/23/4/1/1/0/0/0/0 cases) 32. friend -- not included in survey household (0/17/7/8/1/0/0/1/0/0 cases) 34. roomer/lodger/boarder -- not included in survey household (0/13/8/4/5/3/1/1/0/0 cases) 35. live-in help, maid -- not included in survey household (0/3/6/6/2/0/0/0/0/0 cases) 39. other unrelated persons -- not included in survey household (0/5/1/2/1/0/0/0/0/0 cases) 0. INAP, not that many persons in household unit (0/805/2165/2903/3600/3913/4031/4070/4093/4100 cases)

(#1) (#2) (#3) (#4) (#5) (#6) (#7) (#8) (#9) (#10)

question: X4 B3126 (#1) INDIVIDUAL'S SEX.

B3129 B3132 B3135 B3138 B3141 B3144 B3147 B3150 B3153 B3127 B3130 B3133 B3136 B3139 B3142 B3145 B3148 B3151 B3154

(#2) (#3) (#4) (#5) (#6) (#7) (#8) (#9) (#10) (#1) (#2) (#3) (#4) (#5) (#6) (#7) (#8) (#9) (#10)

Corresponds to individuals given above.

No missing values.

1. male (3135/341/1007/628/273/105/39/16/6/1 cases) 2. female (968/2957/931/572/230/85/33/17/4/2 cases) 0. INAP (0/805/2165/2903/3600/3913/4031/4070/4093/4100 cases) question: X4

INDIVIDUAL'S AGE. This is the reported age at last birthday for the individuals above as given by the interviewer code sheet. It may differ from the age as determined from date of birth information for the head or spouse. No missing values. Imputations were done using date of birth, job history, and education for head and spouse. Less than one year coded as 1. xx. years (1 to 98) 0. INAP (0/805/2165/2903/3600/3913/4031/4070/4093/4100 cases)

question: X4 Survey Informant B3155 RELATIONSHIP OF SURVEY RESPONDENT TO INFORMANT. The informant is the first person contacted for information about the household unit and from whom information was solicited in order to determine who should be the survey respondent. 1. 2. 3. 4. 5. 6. 7. 8. 9. 9. respondent is informant (3490 cases) respondent is spouse or "partner" of informant (384 cases) respondent is the child of the informant (25 cases) respondent is the parent of the informant (78 cases) respondent is the sibling of the informant (12 cases) respondent is the grandparent of the informant (2 cases) respondent is the roommate of the informant (24 cases) respondent is unrelated to the informant (4 cases) other relationship (3 cases) NA (81 cases) Interview Characteristics and Time B3156 MONTH OF THE INTERVIEW. All interviews took place between February and August 1983. No missing values. 2. 3. 4. 5. 6. 7. 8. February 1983 (458 cases) March 1983 (1544 cases) April 1983 (944 cases) May 1983 (541 cases) June 1983 (469 cases) July 1983 (145 cases) August 1983 (2 cases)

B3157

DAY OF THE INTERVIEW. Day of the month (when interview started if done at different times). No missing values. xx. day (1 to 31)

B3158

UNDERSTANDING. The interviewer's assessment of the survey respondent's understanding of the survey questions. 1. 2. 3. 4. 9. excellent (1449 cases) good (1878 cases) fair (620 cases) poor (126 cases) NA (30 cases)

question: X6 B3159 EXPRESSION. The interviewer's assessment of the survey respondent's ability to express themselves. 1. excellent (1319 cases) 2. good (1994 cases) 3. fair (651 cases) 4. poor (109 cases) -9. NA (30 cases) question: X7 B3160 SUSPICION EX-ANTE. The interviewer's assessment as to whether or not the respondent was suspicious before the interview. 1. not suspicious at all (2862 cases) 3. somewhat suspicious (997 cases) 5. very suspicious (203 cases) -9. NA (41 cases) question: X8 B3161 SUSPICION EX-POST. The interviewer's assessment as to whether or not the respondent was suspicious after the interview. 1. not suspicious at all (3203 cases) 3. somewhat suspicious (750 cases) 5. very suspicious (114 cases) -9. NA (36 cases) question: X9

B3162

INTEREST. The interviewer's assessment of the respondent's interest in the interview. 1. very high interest (509 cases) 2. above average interest (1437 cases) 3. average interest (1671 cases) 4. below average interest (365 cases) 5. very low interest (90 cases) -9. NA (31 cases) question: X10

B3163 (1st) B3164 (2nd)

OTHERS PRESENT. If other persons were present at the interview (besides the respondent), he/she is coded here. Up to two mentions of the kind of individuals present are allowed. 1. only respondent (2067/0 cases) 2. children under six (264/207 cases) 3. older children (283/195 cases) 4. spouse (1012/69 cases) 5. other relatives (146/20 cases) 6. other adults (265/0 cases) -9. NA (66/2 cases) 0. INAP no second mention (0/3610 cases) Documents Used (A) (B) (C) (D) Loan questions Checking, savings, or investment questions Pension questions Income tax returns

B3165

ANY DOCUMENTS USED? Interviewer's indication as to whether or not the respondent referred to documents in answering questions. 1. frequently referred to documents (178 cases) 3. sometimes referred to documents (489 cases) 4. rarely referred to documents (622 cases) 5. never referred to documents (2768 cases) -9. NA (46 cases) question: X12

B3166 B3167 B3168 B3169

(A) (B) (C) (D)

SPECIFIC TYPES OF DOCUMENTS. Interviewer's indication of when respondent used documents. For loans, financial assets, pensions, or income tax data, information is given as to whether or not respondent used documents. This information is given only if the interviewer indicates that respondent frequently, sometimes, or rarely used documents (B3165 coded 1, 3, or 4).

1. documents used for those questions (338/410/242/437 cases) 5. documents not used for those questions (945/873/1041/846 cases) -9. NA (6/6/6/6 cases) 0. INAP documents never used (or NA whether ever use documents) (2814/2814/2814/2814 cases) question: X13 Recontact Information B3170 (H) B3171 (S) SOCIAL SECURITY NUMBER GIVEN. Interviewers asked repondent to give their (and their spouse's) Social Security number "in order that SRC be able to obtain the latest information about the retirement benefits that you (or your spouse) and others like you are likely to receive." This variable indicates whether the number was given. 1. Social Security number given (3095/1801 cases) 5. Social Security number not given -- refused or no number or unknown to respondent (1008/834 cases) 0. INAP, no spouse (0/1468 cases) B3172 RECONTACT INFORMATION GIVEN. This variable indicates the recontact information given by the respondent to the interviewer. Respondents were asked to verify their address and give a phone number to use in the event that SRC needed to verify the interview. This variable was used in determining eligibility for the 1986 Survey of Consumer Finances. 1. 2. 3. 4. 5. 6. mailing mailing mailing mailing mailing mailing address address address address address address and phone information given (3625 cases) given, refused to give phone number (147 cases) given, do not have a phone (255 cases) refused, phone given (10 cases) and phone refused (64 cases) refused, do not have phone (2 cases) HOUSEHOLD INCOME Missing data on income was one of the most serious imputation problems for the survey (about 13% were missing total income). Imputations for the Income Section were done in a number of different ways. General procedures were as follows. If only total income was missing it was imputed as the sum of the parts. If only one part of income was missing, but the total was reported, the part was calculated as the difference. In all other cases the individual parts of income were imputed (where missing), and total income imputed as the sum. If both asset values relevant for income imputation and income components were missing they were imputed simultaneously using an iterative procedure. This technique builds maximum likelihood estimates of the covariance matrix of the set of imputed variables under the assumption that they are jointly normal and missing randomly

conditional on the other variables. Actual imputations follow from the conditional expectation of the missing variable (computed from the estimated covariance matrix) and a randomized error. More specifics on the information used in computing the imputations is given below. All high-income sample imputations were done separately. 1982 Gross (Pre-tax) Income Totals B3201 TOTAL 1982 GROSS (PRE-TAX) HOUSEHOLD INCOME. This variable is the reported total household income. It will differ from the sum of the components of income (B3202) if answered that way by respondents. However, if the sum total differed from the reported total by less than $300 the total was set equal to the sum. All missing values were imputed. Imputations by the procedures described above. xxxxxxx. dollars (-24,062 to 3,425,887) question: T3 B3202 SUM OF 1982 HOUSEHOLD INCOME COMPONENTS. This variable is the sum of all the components of income listed below (B3205 + B3206 + B3207 + B3208 + B3209 + B3210 + B3211 + B3212 + B3213 + B3214 + B3215 + B3216). It can differ from the total provided by the household (B3201) as explained above. All missing values were imputed. xxxxxxx. dollars (-24,062 to 3,396,354) 0. zero (1 case) B3203 CODED VARIABLE FOR 1982 HOUSEHOLD INCOME. This variable is computed from total 1982 household income (B3201). 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. B3204 less than $5,000 (351 cases) $5,000-7,499 (298 cases) $7,500-9,999 (263 cases) $10,000-14,999 (525 cases) $15,000-19,999 (457 cases) $20,000-24,999 (385 cases) $25,000-29,999 (326 cases) $30,000-39,999 (462 cases) $40,000-49,999 (255 cases) $50,000 and more (781 cases)

CODED VARIABLE FOR HOUSEHOLD INCOME BY DECILES. This variable is computed from total 1982 household income (B3201). Each category represents 10% of the weighted (by B3016) survey households. The cleaned sample composite weight was used. The weighted median income was $19,523. The 2% lower and upper bounds were $2,615 and $99,000; and the 1% upper and lower bounds were $1,603 and $142,000. 1. less than $5,219 (387 cases) 2. $5,219-8,557 (375 cases)

3. 4. 5. 6. 7. 8. 9. 10.

$8,558-12,000 (376 cases) $12,001-15,437 (360 cases) $15,438-19,523 (371 cases) $19,524-24,000 (367 cases) $24,001-29,800 (364 cases) $29,801-37,100 (373 cases) $37,101-49,984 (349 cases) $49,985 and more (781 cases) Individual Income Components

B3205

INCOME IN WAGES AND SALARY. All missing values were imputed. This variables was the major imputed income component. Where possible this variable was imputed by head and spouse annual wages reported in the Job Section deflated to 1982 dollars. If wage data were missing (or of the previous job if there was a job change in 1982) the wage data was first imputed, then used for the income imputation. Wage imputations were accomplished by matching the March 1983 Bureau of the Census Current Population Survey average log-wages for persons of the same sex, race, age, and 3-digit occupation and adding a random error term. Imputations were done on a per-wage hour basis and adjusted for hours per week and weeks per year. If multiple job information was available for an individual, it was used in the imputation random term as part of a "random effect" designed to have the same intra-person correlation as the portion of the sample with complete information. For some self-employed persons, wage data were moved to the business income component (B3206). The high-income sample imputations did not use the CPS match. Instead the high-income sample itself was used to match by occupation and age with randomization. xxxxxxx. dollars (42 to 1,000,000) 0. none (1129 cases) question: T1a,T2a

B3206

INCOME FROM A PROFESSIONAL PRACTICE, BUSINESS, OR FARM. All missing values were imputed. Imputed from the Business Section reported income when available or wage income reported in the Job Section for self employed persons. If wage income was missing for self employed persons, it was imputed first using the above procedure. In a few cases, the value of the business variables were computed first, and an income yield estimated from a log-regression. For some self-employed persons some or all wage/salary income was moved to business component. The high-income imputations were done separately. xxxxxxx. dollars (-849,200 to 874,999) -4. small loss (4 cases) 0. none (3337 cases) question: T1b,T2b

B3207

INCOME FROM NON-TAXABLE INVESTMENTS SUCH AS IRAS OR MUNICIPALS All missing values were imputed. If asset values were available, income was computed assuming yields equivalent to average 1982 yields as reported from various sources. These were a yield of 12.204% on IRAs or Keoghs (calculated from the Federal Reserve Bank Functional cost analysis file); 7.77% for all-saver certificates ( 70% of the average one year t-bill rate as given in the Federal Reserve Bulletin); 6.86% for tax-free mutual funds (average tax-free mutual fund yields as reported in Donahues); and 11.66% for state and local municipal bonds (Buyer bond index average yield as reported in the Federal Reserve Bulletin). This component was imputed jointly with assets in some cases using the method described previously. Some reported values were adjusted as some respondents gave the entire value of their IRAs as tax-free income (because it was sheltered). xxxxxx. dollars (10 to 550,000) 0. none (3595 cases) question: T1c,T2c

B3208

TAXABLE INTEREST INCOME. All missing values were imputed. If asset values were available, income was computed assuming yields equivalent to average 1982 yields as reported from various sources. These were a yield of zero on regular checking; 2.337% on NOW, sweep, or SUPER NOW (assumed to be regular NOWs in 1982 since they were not available until January 1983) accounts (calculated from the Federal Reserve Functional Cost analysis file); 11.084% on short-term CDs (average 6 month t-bill rate as reported in the Federal Reserve Bulletin); 12.277% on other CDs (calculated from the Federal Reserve Functional cost analysis file); 6% for savings bonds (the 1977 face rate assumed to be the average of existing bonds); 5.25% for regular savings accounts (the Regulation Q interest ceiling at commercial banks, 5.5% was used for those at S&Ls); 12.23% for money market mutual funds or Broker call money (average taxable money market yields as reported in Donahues); 12.92% for federal bonds (the average 3 year bond rate as reported in the Federal Reserve Bulletin); 14.94% for corporate or other bonds (average as reported in the Federal Reserve Bulletin); and 10% on notes owed by individuals. Some of the amounts may overstate the tax-form income as they represent accrual income rather than cash income. Bond yields in particular may be over stated as asset values were listed at face value. Interest income was imputed jointly with assets in some cases using the method described previously. xxxxxx. dollars (3 to 936,076) 0. none (2103 cases) question: T1d,T2d

B3209

DIVIDEND INCOME. All missing values were imputed.

If stock values were

available, income was imputed assuming a yield equivalent to the average Standard and Poors 500 dividend rate of 5.81% in 1982. Because of appreciation of average stock values between 1982 and the survey date in 1983, current stock values were first deflated to their estimated 1982 values before computing the income yield. This implied an actual yield of only 4.98% on current value. Dividend income was imputed jointly with assets in some cases using the method described previously. xxxxxxx. dollars (3 to 1,000,000) 0. none (3183 cases) question: T1e,T2e B3210 NET GAINS FROM THE SALE OF STOCKS/BONDS OR REAL ESTATE. All missing values were imputed. If stock values were available and the respondent reported a stock transaction in 1982, capital gains were imputed using the average 1982 appreciation of the Standard and Poors 500 in 1982 (15.8%). Current stock values were deflated back to 1982 values using the same method as with dividends before calculating the yield. Capital gain income was imputed jointly with assets in some cases using the method described previously. xxxxxxx. dollars (-45,000 to 3,000,000) 0. none (3698 cases) question: T1f,T2f B3211 RENT, TRUST INCOME, OR ROYALTIES FROM ANOTHER INVESTMENT. All missing values were imputed. Trust income was imputed from the value of the trust if given (otherwise it was imputed jointly with trust assets using the method described above). Trust yield was estimated using the component structure of the average bank 1982 trust assets as given in the FDIC annual report (22.9% stocks, 10.3% real estate, 11.6% municipal obligations, 9.8% interest bearing deposits, 30.1% U.S.government and other short term obligations, and 5.% non-interest bearing and other). Each component was assumed to have a yield as discussed previously implying an aggregate trust yield of 8.98%. Trust assets were deflated to 1982 assuming a year-to-year appreciation of 12.64% (derived from the stock capital gain) before computing the yield. Land rents were imputed from a within sample regression of percent yield given the type and value of property. Some property values were imputed jointly with rents. xxxxxxx. dollars (-500,000 to 2,500,000) 0. none (3525 cases) question: T1g,T2g B3212 WORKERS OR UNEMPLOYMENT COMPENSATION INCOME. All missing values were imputed. Imputations were done with employment history variables. The amount of time each household was out of work in 1982 was estimated using dates of

employment. Unemployment compensation was then calculated using the actual formula of the household's state given previous wages and time on the job. xxxxx. dollars (50 to 25,000) 0. none (3711 cases) question: T1h,T2h B3213 CHILD SUPPORT, ALIMONY, INHERITANCE, GIFTS, FINANCIAL SUPPORT. All missing values were imputed. Imputations were done using a log-value regression with a random term added. The high-income sample imputations were done separately. xxxxxx. dollars (40 to 250,000) 0. none (3686 cases) question: T1j,T2j B3214 ADC, AFDC, FOOD STAMPS, SSI, WELFARE, OTHER PUBLIC ASSISTANCE All missing values were imputed. Imputations were done using a log-value regression with a random term added. Account was taken in the regression of the family composition and state of residence. In some cases values were moved between this component and the pension component below if deemed appropriate. xxxxx. dollars (25 to 13,750) 0. none (3701 cases) question: T1k,T2k B3215 RETIREMENT, ANNUITY, PENSION, DISABILITY, SURVIVOR BENEFITS. All missing values were imputed. Imputations summed from the specific sources (social security and private pension income listed for head and spouse in the Employment Section). If these were missing, they were imputed first using a log- value regression with a random term added. If no specific sources were listed, a separate log-value imputation regression for the total pension (usually for a non- head/non-spouse household member) was used. In some cases values were moved between this component and the public assistance component (B3214) if deemed appropriate. The high-income imputations were done separately. xxxxxx. dollars (134 to 200,000) 0. none (2925 cases) question: T1m,T2m B3216 OTHER INCOME. All missing values were imputed. Imputations were done using a log-value regression using type of other income with a random term

added.

The high-income imputations were done separately.

xxxxx. dollars (45 to 50,000) 0. none (4024 cases) question: T1n,T2n B3217 (1st) B3218 (2nd) SOURCES OF OTHER INCOME. First and second sources listed for B3216. 1. settlements from lawsuits, divorce, insurance (8/0 cases) 2. gambling winnings (5/0 cases) 3. educational scholarships or grants, GI bill, fellowship (9/1 cases) 4. other source (14/1 cases) -9. NA (43/0 cases) 0. INAP, no other income or no second mention (4024/4101 cases) question: T1n Taxable Income B3219 ADJUSTED GROSS INCOME This variable is the household's estimated adjusted gross income (AGI) as defined for tax purposes for 1982. No missing values. xxxxxxx. income (3 to 2,899,800) 0. none (266 cases) B3220 EXTENDED INCOME USED FOR FRB WEIGHT. This variable is the household's estimated adjusted gross income (AGI) plus full capital gains and dividend exclusion for 1982. It is a constructed estimate of the IRS's extended income. This is the variable used to construct the extended income weight (B3012). No missing values. xxxxxxx. income (3 to 3,172,997) 0. none (229 cases) Outlays B3221 ALIMONY, CHILD SUPPORT, OR OTHER FINANCIAL ASSISTANCE PAID. This variable is the amount of alimony, child support, or other financial support paid to relatives or friends outside the household by a member of the household in 1982. All missing values were imputed. Imputations were done using a log-value regression. Imputations for the high-income sample were done separately. xxxxxxx. dollars (25 to 6,000,000) 0. none (3493 cases) question: T4,T4a

HOUSEHOLD BALANCE SHEET TOTALS Individual Asset Totals B3708 CURRENT VALUE OF HOME. The total gross value of primary residence if owned by household or buying on a land contract. No missing values. xxxxxxx. dollars (3 to 5,000,000) 0. INAP, do not own residence (1342 cases) B3801 AGGREGATE GROSS VALUE OF OTHER PROPERTIES. The total gross value of properties listed in the Other Property Section. No missing values. xxxxxxxx. dollars (100 to 50,000,000) 0. none (3140 cases) B3401 TOTAL DOLLAR AMOUNT IN UNRESTRICTED CHECKING ACCOUNTS. The total balance in checking accounts (no money market funds). No missing values. xxxxxxx. dollars (4 to 1,005,200) 0. none (806 cases) B3418 TOTAL DOLLAR AMOUNT IN ALL MONEY MARKET AND CALL ACCOUNTS. The total balance in money market funds and brokerage call accounts. No missing values. xxxxxxx. dollars (8 to 4,100,000) 0. none (3284 cases) B3434 TOTAL DOLLAR AMOUNT IN ALL SAVINGS OR SHARE ACCOUNTS. The total balance in savings accounts or credit union share accounts. No missing values. xxxxxx. dollars (4 to 957,672) 0. none (1641 cases) B3446 TOTAL DOLLAR AMOUNT IN IRA OR KEOGH ACCOUNTS. The total balance in Individual Retirement Accounts (IRAs) or Keoghs. No missing values. xxxxxxx. dollars (20 to 2,000,000) 0. none (3184 cases) B3453 TOTAL DOLLAR AMOUNT OF CERTIFICATES OF DEPOSIT. The sum of all Certificates of Deposit (CDs). No missing values. xxxxxxx. dollars (100 to 3,000,000)

0. none (3244 cases) B3457 TOTAL FACE AMOUNT OF U.S. GOVERNMENT SAVINGS BONDS. The total book value of U.S. Government savings bonds. No missing values. xxxxxx. dollars (16 to 900,000) 0. none (3253 cases) B3458 TOTAL FACE AMOUNT OF BONDS. The total book value of all bonds except U.S. government savings bonds and bonds held in trusts, mutual funds, or unit trusts. No missing values. xxxxxxxx. dollars (11 to 15,000,000) 0. none (3747 cases) B3462 TOTAL DOLLAR AMOUNT OF STOCKS AND MUTUAL FUNDS. Includes all stock holdings except non-traded holdings of businesses and stock in trusts. Also includes mutual fund holdings except for money market accounts. No missing values. xxxxxxxx. dollars (23 to 53,150,000) 0. none (3030 cases) B3470 TOTAL DOLLAR AMOUNT IN TRUST ACCOUNTS. Includes all monies in trust or managed investment accounts not listed elsewhere. Excludes pension or company thrift accounts. No missing values. xxxxxxxx. dollars (20 to 35,000,000) 0. none (3846 cases) B3475 DOLLAR CASH VALUE OF WHOLE LIFE INSURANCE. The current cash value of all whole life policies excluding policies where a business is the beneficiary. The value is net and excludes borrowings against the policy. No missing values. xxxxxxx. dollars (2 to 3,000,000) -6. none, have whole life insurance (294 cases) 0. none, no whole life insurance (2307 cases) B3477 TOTAL DOLLAR AMOUNT OF LOANS OWED TO HOUSEHOLD AND GAS LEASES. The sum of loans owed to household from friends or others and gas/oil leases. No missing values. xxxxxxx. dollars (100 to 1,200,000) 0. none (4003 cases) B3501 NET VALUE OF BUSINESS WITH NO MANAGEMENT INTEREST.

Excludes publicly traded stock holdings and properties listed in the Other Properties Section. No missing values. xxxxxxxx. dollars (100 to 15,000,000) -6. worthless, but have non-management business (5 cases) 0. none, no business (3797 cases) B3502 TOTAL NET VALUE OF BUSINESS WITH A MANAGEMENT INTEREST. Excludes publicly traded stock holdings and properties listed in the Other Properties Section. No missing values. xxxxxxxx. dollars (-4,000 to 74,000,000) -6. worthless, but have management business (8 cases) 0. none (3432 cases) B3601 AGGREGATE GROSS VALUE OF LAND CONTRACTS AND NOTES. The total gross current value of land contracts or notes owed to household. No missing values. xxxxxxx. dollars (124 to 2,627,339) 0. none (3900 cases) B3902 TOTAL VALUE OF VEHICLES. The sum of values of vehicles listed in the Vehicle and Other Asset Sections, and inferred from outstanding loans. No missing values. xxxxxx. dollars (68 to 109,337) 0. none (594 cases) Asset Summary Totals B3301 TOTAL DOLLAR AMOUNT OF LIQUID ASSETS. The sum of checking accounts, money market accounts, savings accounts, IRAs and Keoghs, CDs, and savings bonds owned by household (B3401 + B3418 + B3434 + B3446 + B3453 + B3457). No missing values. xxxxxxx. dollars (4 to 4,188,500) 0. none (456 cases) B3302 TOTAL DOLLAR AMOUNT OF FINANCIAL ASSETS. The sum of liquid assets plus bonds, stock and mutual fund holdings, and trust accounts owned by household (B3301 + B3458 + B3462 + B3470). No missing values. xxxxxxxx. dollars (4 to 57,838,500) 0. none (450 cases) B3303 PAPER ASSETS. The sum of financial assets plus cash value of whole life insurance plus loans owed to household and gas leases plus

gross value of land contracts plus thrift accounts (B3302 + B3475 + B3477 + B3601 + B3306). No missing values. xxxxxxxx. dollars (4 to 58,098,500) 0. none (401 cases) B3304 GROSS ASSETS EXCLUDING BUSINESS AND NON-THRIFT PENSIONS. The sum of paper assets plus current value of home plus gross value of other properties plus total value of vehicles (B3303 + B3708 + B3801 + B3902). No missing values. xxxxxxxx. dollars (5 to 58,799,957) 0. none (147 cases) B3305 GROSS ASSETS EXCLUDING NON-THRIFT PENSIONS. The sum of paper assets plus current value of home plus gross value of other properties plus total value of vehicles plus net value of businesses with and without management interest (B3304 + B3501 + B3502). No missing values. xxxxxxxx. dollars (5 to 86,857,433) 0. none (147 cases) Pension Asset Summaries B3306 TOTAL THRIFT-TYPE PENSION ACCOUNT ASSETS. The sum of current withdrawable amounts in thrift-type accounts for head and spouse (B4947 + B5047). No missing values. xxxxxxx. dollars (5 to 1,600,000) -6. none withdrawable but have thrift account (44 cases) 0. none (3544 cases) B3307 NET PRESENT VALUE OF PENSIONS FROM PAST JOBS. The sum of the present value of past job pensions for head and spouse (B4968 + B4978 + B4988 + B5068 + B5078 + B5088). No missing values. xxxxxx. dollars (42 to 933,586) 0. none (3307 cases) B3308 NET PRESENT VALUE OF PENSIONS FROM OTHER SOURCES. The sum of the present value of pensions (private or Social Security) determined to be currently received by the household but not attributable to the head or spouse Social Security, current job, or a reported past job. No missing values. xxxxxx. dollars (1,887 to 1,015,270) 0. none (3745 cases) B3309 NET PRESENT VALUE OF PENSIONS FROM CURRENT JOBS. The sum of the gross present value of current job non-thrift

benefits for head and spouse minus present value of wage contribution liabilities (B3310 - B3311). Expectations data used for calculations. No missing data for households where respondent or their spouse is over age 39. xxxxxx. dollars (-848280 to 826,957) -9. not calculated (731 cases) 0. none (2444 cases) B3310 GROSS PRESENT VALUE OF PENSIONS FROM CURRENT JOBS. The sum of the gross present value of current job non-thrift benefits for head and spouse (B4918 + B5018). Expectations data used for calculations. No missing data for households where respondent or their spouse is over age 39. xxxxxx. dollars (493 to 918,860) -9. not calculated (803 cases) 0. none (2372 cases) B3311 PRESENT VALUE OF PENSION LIABILITY FROM CURRENT JOBS. The sum of the gross present value of current job pension contributions for head and spouse (B4928 + B5028). No missing data for households where respondent or their spouse is over age 39. xxxxxx. dollars (xx to xxxxxx) -9. not calculated (803 cases) 0. none (2372 cases) B3312 TOTAL DEFINED CONTRIBUTION ACCOUNT PENSION ASSETS. The total amount in defined contribution pension accounts of the current job of head or spouse which could be withdrawn if the employee left the firm (B4930 + B5030). This total will also be included as part of the present value of current job pensions (B3309). No missing values. xxxxxx. dollars (10 to 2,000,000) -6. none withdrawable but have defined contribution account (103 cases) 0. none (3528 cases) B3313 GROSS PRESENT VALUE OF PRIVATE PENSION BENEFITS. The sum of the gross present value of pensions for current and past jobs of head and spouse, and pensions from other sources (B3307 + B3308 + B3309). No missing data for households where respondent or their spouse is over age 39. xxxxxx. dollars (-xx to xxxxxx) -9. not calculated (731 cases) 0. none (xxxx cases) B3314 NET PRESENT VALUE OF SOCIAL SECURITY BENEFITS/TAXES. The sum of the gross present value of Social Security benefits for head and spouse minus present value of wage contribution

liabilities (B3315 - B3316). Social Security formula and current receipts used for calculations. No missing data for households where respondent or their spouse is over age 39. xxxxxx. dollars (-76,692 to 695,402) -9. not calculated (1368 cases) 0. none (398 cases) B3315 GROSS PRESENT VALUE OF SOCIAL SECURITY BENEFITS. The sum of the gross present value of Social Security benefits for head and spouse (B5120 + B5124 + B5220 + B5224). Social Security formula and current receipts used for calculations. No missing data for households where respondent or their spouse is over age 39. xxxxxx. dollars (1,077 to 695,402) -9. not calculated (1368 cases) 0. none (432 cases) B3316 PRESENT VALUE OF SOCIAL SECURITY TAX LIABILITY. The sum of the gross present value of future Social Security tax liabilities of head and spouse (B5116 + B5216). Based on projected future wages. No missing data for households where respondent or their spouse is over age 39. xxxxxx. dollars (xx to xxxxxx) -9. not calculated (1368 cases) 0. none (432 cases) B3317 TOTAL NET PRESENT VALUE OF PENSIONS. The sum of the net present value of pensions from past and current jobs, Social Security, current job thrift accounts, and pensions currently received by household members other than head or spouse (B3313 + B3314). No missing values for households where respondent or their spouse is over age 39. xxxxxx. dollars (-844,855 to 2,455,843) -9. not calculated (1415 cases) 0. none (161 cases) Individual Liability Totals B4001 HOUSE MORTGAGE TOTAL. The sum of first and second mortgage loans on household's primary residence. No missing values. xxxxxxx. dollars (95 to 1,786,740) 0. none (2509 cases) B3602 AGGREGATE AMOUNT OWED AGAINST LAND CONTRACTS/NOTES. The total amount owed by the household on loans against properties with land contracts or notes owed to the household. No missing values.

xxxxxxx. dollars (200 to 1,733,000) 0. none (4063 cases) B3802 AGGREGATE AMOUNT OUTSTANDING ON OTHER PROPERTY MORTGAGES. The total outstanding debt on other properties. No missing values. xxxxxxx. dollars (94 to 8,070,427) 0. none (3660 cases) B4102 TOTAL CREDIT CARD DEBT. The sum of amount owed on gasoline, bank, general purpose, national retail, other retail, and other credit card debt after payment of last bill. No missing values. xxxxx. dollars (5 to 10,200) 0. none (2686 cases) B4125 AMOUNT OWED ON LINES OF CREDIT. The amount currently owed on open-ended lines of credit such as checking account overdrafts or credit union borrowing. No missing values. xxxxxxx. dollars (33 to 6,000,000) 0. none (3605 cases) B4204 TOTAL REPORTED LOANS AGAINST THE CASH VALUE OF LIFE INSURANCE. This variable is the sum of loans with irregular payments reported in the Consumer Loan Section which were loans from life insurance companies. It was assumed that these were loans against the cash value of whole life policies. These loans are excluded from total consumer debt, total debt, and net worth, as the corresponding cash value asset was not reported in the Life Insurance Section. No missing values. xxxxxx. dollars (44 to 300,000) 0. none (3902 cases) B4205 TOTAL LOANS FOR AUTOMOBILE PURCHASE. This variable is the sum of loans reported in the Consumer Loan Section where the purpose of the loan was reported to be a new or used automobile or truck purchase. No missing values. xxxxx. dollars (29 to 54,074) 0. none (2963 cases) B4206 TOTAL NON-AUTO CONSUMER LOANS. The sum of all loans in the reported in the Consumer Loan Section minus irregular loans from life insurance companies minus loans used to purchase automobiles or other vehicles (B4201 - B4205). No missing values.

xxxxxxx. dollars (14 to 5,027,000) 0. none (2860 cases) Liability Summary Totals B3318 TOTAL REAL ESTATE DEBT. The sum of house mortgage, amount owed against land contracts/notes, and other property mortgages (B4001 + B3602 + B3802). No missing values. xxxxxxx. dollars (95 to 8,485,059) 0. none (2348 cases) B4101 TOTAL REVOLVING CHARGE DEBT. The sum of total credit card debt plus debt owed against lines of credit (B4125 + B4102). No missing values. xxxxxxx. dollars (5 to 6,000,000) 0. none (2480 cases) B4201 TOTAL CLOSED-END CONSUMER DEBT OUTSTANDING. This variable is the total amount outstanding for all debts owed by the household which are listed in the Consumer Loan Section except for loans against the cash-value of life insurance policies. No missing values. xxxxxxx. dollars (14 to 5,027,000) 0. none (2194 cases) B4202 TOTAL REGULAR PAYMENT (INSTALLMENT) DEBT OUTSTANDING. This variable is the total amount outstanding for all debts with regular payments listed in the Consumer Loan Section. missing values. xxxxxx. dollars (14 to 403,325) 0. none (2450 cases) B4203 TOTAL NON-REGULAR PAYMENT (NON-INSTALLMENT) DEBT OUTSTANDING. This variable is the total amount outstanding for all debts without regular payments (or where the payment pattern was not ascertained) listed in the Consumer Loan Section except for loans against the cash value of life insurance policies. No missing values. xxxxxxx. dollars (22 to 5,027,000) 0. none (3600 cases) B3319 TOTAL CONSUMER DEBT. The sum of total closed-end consumer debt (excluding loans against the cash value of life insurance policies) and

No

revolving charge debt (B4201 + B4101). xxxxxxx. dollars (5 to 7,118,508) 0. none (1618 cases) B3320

No missing values.

TOTAL DEBT. The sum of total real estate debt and total consumer debt (B3318 + B3319). No missing values. xxxxxxxx. dollars (9 to 10,792,929) 0. none (1205 cases) Net Worth

B3710

NET EQUITY IN HOME. The current value of home minus amount outstanding on first and second mortgage. This variable can be negative. No missing values. xxxxxxx. dollars (-7,828 to 3,494,570) 0. zero (1342 cases)

B3803

AGGREGATE NET EQUITY IN OTHER PROPERTIES. The total gross value of properties listed in the Other Property Section minus outstanding mortgages or notes against the properties. The gross value can be positive and net equity be zero. No missing values. xxxxxxxx. dollars (-99,196 to 50,000,000) -6. net equity is zero but own other properties (1 case) 0. zero (3140 cases)

B3603

AGGREGATE NET EQUITY IN LAND CONTRACTS AND NOTES. The total gross value of amount owed to household minus amount owed by household on loans against properties with land contracts or notes. This variable can be negative. No missing values. xxxxxxx. dollars (-17,421 to 2,000,000) 0. zero (3900 cases)

B3321

FINANCIAL NET WORTH. Total paper assets minus total debt (B3303 - B3320). missing values. xxxxxxxx. dollars (-3,848,902 to 58,057,554) 0. none (203 cases)

No

B3322

NET WORTH EXCLUDING BUSINESS OR NON-THRIFT PENSION. Gross assets excluding business and pensions minus total debt (B3304 - B3320). No missing values.

xxxxxxxx. dollars (-1,596,774 to 58,759,011) 0. none (105 cases) B3323 NET WORTH EXCLUDING NON-THRIFT PENSION. Gross assets excluding pensions minus total debt (B3305 B3320). No missing values. xxxxxxxx. dollars (-73,400 to 86,852,003) 0. none (105 cases) B3324 NET WORTH. Gross assets excluding pensions plus total net present value of pensions minus total debt (B3305 + B3316 - B3320). No missing values (currently the same as B3323). xxxxxxxx. dollars (-73,400 to 86,852,003) 0. none (105 cases) B3325 CODED VARIABLE FOR NET WORTH. This variable is computed from total net worth (B3324). 1. less than zero (198 cases) 2. $0-4,999 (736 cases) 3. $5,000-9,999 (226 cases) 4. $10,000-24,999 (446 cases) 5. $25,000-49,999 (597 cases) 6. $50,000-99,999 (650 cases) 7. $100,000-249,999 (533 cases) 8. $250,000-500,000 (215 cases) 9. $500,000-1,000,000 (156 cases) 10. $1,000,000 and more (346 cases) B3326 CODED VARIABLE FOR NET WORTH BY DECILES. This variable is computed from total net worth (B3324). Each category represents 10% of the weighted survey households (by B3012). The cleaned sample composite weight was used. The weighted median net worth was $34,268. The 2% upper and lower bounds are -$1,584 and $825,042 respectively. The 1% upper and lower bounds are -$3,485 and $1,373,405. 1. less than $301 (375 cases) 2. $301-2,600 (363 cases) 3. $2,601-8,880 (375 cases) 4. $8,881-20,219 (368 cases) 5. $20,220-34,268 (372 cases) 6. $34,269-51,044 (374 cases) 7. $51,045-76,002 (377 cases) 8. $76,003-114,649 (374 cases) 9. $114,650-215,425 (363 cases) 10. $215,426 or more (762 cases) B3327 CODED VARIABLE FOR NET FINANCIAL WORTH. This variable is computed from total net financial worth (B3321).

1. less than zero (1733 cases) 2. $0-4,999 (912 cases) 3. $5,000-9,999 (228 cases) 4. $10,000-24,999 (326 cases) 5. $25,000-49,999 (239 cases) 6. $50,000-99,999 (183 cases) 7. $100,000-249,999 (151 cases) 8. $250,000-499,999 (95 cases) 9. $500,000-1,000,000 (72 cases) 10. $1,000,000 or more (164 cases) FINANCIAL ASSETS (#1) (#2) (#3) (#4) (#5) First Account Second Account Third Account Fourth Account Fifth or more account (summed) Financial Asset totals B3301 TOTAL DOLLAR AMOUNT OF LIQUID ASSETS. The sum of checking accounts, money market accounts, savings accounts, IRAs and Keoghs, CDs, and savings bonds owned by household (B3401 + B3418 + B3434 + B3446 + B3453 + B3457). No missing values. xxxxxxx. dollars (4 to 4,188,500) 0. none (456 cases) B3302 TOTAL DOLLAR AMOUNT OF FINANCIAL ASSETS. The sum of liquid assets plus bonds, stock and mutual fund holdings, and trust accounts owned by household (B3301 + B3458 + B3462 + B3470). No missing values. xxxxxxxx. dollars (4 to 57,838,500) 0. none (450 cases) B3303 PAPER ASSETS. The sum of financial assets plus cash value of whole life insurance plus loans owed to household and gas leases plus gross value of land contracts plus thrift accounts (B3302 + B3475 + B3477 + B3601 + B3306). No missing values. xxxxxxxx. dollars (4 to 58,098,500) 0. none (401 cases) Checking Accounts B3401 TOTAL DOLLAR AMOUNT IN UNRESTRICTED CHECKING ACCOUNTS. The total checking account balance (B3403 + B3406 + B3409 + B3412 + B3415). No missing values.

xxxxxxx. dollars (4 to 1,005,200) 0. none (806 cases) B3402 NUMBER OF CHECKING ACCOUNTS. All missing values were imputed. 1. one (2233 cases) 2. two (752 cases) 3. three (189 cases) 4. four (72 cases) 5. five (25 cases) 6. six (15 cases) 7. seven (4 cases) 8. eight (2 cases) 9. nine (2 cases) 10. ten (2 cases) 14. fourteen (1 case) 0. none (806 cases) question: K1a B3403 B3406 B3409 B3412 B3415 (#1) (#2) (#3) (#4) (#5) DOLLAR AMOUNT IN EACH INDIVIDUAL CHECKING ACCOUNT. The first account is self-defined as the main checking account i.e. the one with the most checks written on it. The fifth account contains the sum of all additional accounts if there are more than five. All missing values imputed. Imputations for the first account were done using a regression for log-value with a random term added. Values for other account imputations were done similarly, but using ratios against the first account as dependent variables. Some accounts originally designated as "cash management" were transferred to money market accounts and some account which appeared to be double counted were eliminated. xxxxxx. dollars (4 to 500,000) 0. INAP, no account (806/3039/3791/3980/4052 cases) question: K4 B3404 B3407 B3410 B3413 B3416 (#1) (#2) (#3) (#4) (#5) TYPE OF FINANCIAL INSTITUTION WHERE ACCOUNT LOCATED. All missing values were imputed. Imputations were made using the financial services variables (K31a-h and K36a-c) and conditional mean tables with randomization. 1. commercial bank (2744/829/255/105/46 cases) 2. savings and loan association or savings bank (395/151/39/14/4 cases) 3. credit union (146/76/12/3/0 cases) 6. brokerage company or money market mutual fund (11/6/4/1/1 cases) 7. insurance company (0/0/1/0/0 cases) 21. real estate investment company (0/1/0/0/0 cases) 31. AARP (0/0/1/0/0 cases) 97. other type (1/1/0/0/0 cases) 0. INAP (806/3039/3791/3980/4052 cases)

question: K3 B3405 B3408 B3411 B3414 B3417 (#1) (#2) (#3) (#4) (#5) TYPE OF CHECKING ACCOUNT. All missing values were imputed. Accounts of less than $1500 in super NOWs were converted to regular NOWs. Similarly all regular checking accounts at S&Ls or credit unions were converted to NOWs. 1. 2. 3. 4. 7. 0. regular checking (2381/650/192/83/37 cases) NOW account or regular share draft (814/351/84/28/10 cases) super NOW, super share draft (79/46/26/10/3 cases) cash management, MMF, sweep (12/13/9/2/1 cases) other type (11/4/1/0/0 cases) INAP (806/3039/3791/3980/4052 cases)

question: K2 Money Market Accounts B3418 TOTAL DOLLAR AMOUNT IN ALL MONEY MARKET AND CALL ACCOUNTS. The sum of all money market and call account balances (B3422 + B3425 + B3428 + B3431). No missing values. xxxxxxx. dollars (8 to 4,100,000) 0. none (3284 cases) B3419 TOTAL DOLLAR AMOUNT IN MMDA MONEY MARKET ACCOUNTS. These are money market accounts at commercial banks, savings and loans, and credit unions (the sum of B3422 + B3425 + B3428 + B3431 where B3424, B3427, B3430, or B3433 respectively are coded 1, 2, or 3). No missing values. xxxxxxx. dollars (25 to 4,000,000) 0. none (3657 cases) B3420 TOTAL DOLLAR AMOUNT IN OTHER MONEY MARKET ACCOUNTS. These are all money market or call accounts except those at commercial banks, savings and loans, and credit unions (the sum B3425 + B3428 + B3431 where B3424, B3427, B3430, or B3433 respectively are coded 4 or more). Most will be money market mutual fund (MMF) accounts at brokerages. No missing values. xxxxxxx. dollars (8 to 2,250,000) 0. none (3626 cases) B3421 NUMBER OF MONEY MARKET ACCOUNTS. This total does not include broker call accounts (B3431). missing values were imputed. 1. one (453 cases) 2. two (182 cases)

All

3. three (85 cases) 4. four (38 cases) 5. five (20 cases) 6. six (11 cases) 7. seven (4 cases) 8. eight (1 case) 9. nine (2 cases) 11. eleven (2 cases) 12. twelve (1 case) 0. none (3304 cases) question: K1a B3422 (#1) B3425(#2) B3428 (#3) B3431 (#4) DOLLAR AMOUNT IN EACH INDIVIDUAL MONEY MARKET ACCOUNT. The first three accounts are those given in the money market section. The third account contains the sum of any additional accounts if there were more than three. The fourth account listed is the brokerage call money account (answer K21b, K21c). All missing values were imputed. Imputations for the first account were done by regression for log-value with a random term added. The values for other account imputations were computed similarly, but using ratios against the first account as dependent variables. The call money account was imputed separately with a log-value regression. Some apparent double accounting with employer thrift accounts was eliminated. xxxxxxx. dollars (8 to 4,000,000) 0. INAP, no account (3304/3757/3939/4036 cases) question: K14c,K21c B3423 B3426 B3429 B3432 (#1) (#2) (#3) (#4) DOES MONEY MARKET ACCOUNT HAVE CHECK-WRITING FEATURES? Accounts #1-#3 are money market accounts, account #4 is the brokerage call money account which is always coded 5. All missing values were imputed. Imputations were made using conditional mean tables with randomization. 1. yes (562/241/112/0 cases) 5. no (237/105/52/67 cases) 0. INAP (3304/3757/3939/4036 cases) question: K14d B3424 B3427 B3430 B3433 (#1) (#2) (#3) (#4) TYPE OF FINANCIAL INSTITUTION WHERE ACCOUNT LOCATED. Accounts #1-#3 are money market accounts, account #4 is the brokerage call money account which is always coded 6. All missing values were imputed. Imputations were made using the financial services variables (K31d, K36a-c) and conditional mean tables with randomization. 1. commercial bank (247/80/40/0 cases) 2. savings and loan association or savings bank

(144/57/20/0 cases) 3. credit union (21/6/0/0 cases) 6. brokerage company or money market mutual fund (364/192/99/67 cases) 7. insurance company (11/5/3/0 cases) 17. individual lender (not codable above) (1/0/0/0 cases) 24. federal government: FMHA, SBA, VA, FHA, HUD, NDSL (1/0/0/0 cases) 25. other federal government, IRS (1/0/0/0 cases) 31. AARP (5/2/1/0 cases) 94. investment management or consulting company (4/1/1/0 cases) 97. other type (0/3/0/0 cases) 0. INAP (3304/3757/3939/4036 cases) question: K14b Savings Accounts B3434 TOTAL DOLLAR AMOUNT IN ALL SAVINGS OR SHARE ACCOUNTS. The sum of the balance in all savings accounts (B3436 + B3438 + B3440 + B3442 + B3444). No missing values. xxxxxx. dollars (4 to 957,672) 0. none (1640 cases) B3435 NUMBER OF SAVING ACCOUNTS. All missing values were imputed. 1. one (1216 cases) 2. two (671 cases) 3. three (311 cases) 4. four (137 cases) 5. five (64 cases) 6. six (41 cases) 7. seven (6 cases) 8. eight (6 cases) 9. nine (4 cases) 10. ten (5 cases) 13. thirteen (1 case) 35. thirty-five (1 case) 0. none (1640 cases) question: K15a B3436 B3438 B3440 B3442 B3444 (#1) (#2) (#3) (#4) (#5) DOLLAR AMOUNT IN EACH INDIVIDUAL SAVINGS ACCOUNT. The first account is self-defined as the largest savings account. The fifth account contains the sum of all additional accounts if there were more than five. All missing values Imputations for the first account were done using a regression for log-value with a random term added. The values for other account imputations were computed similarly, but using ratios against the first account as dependent variables. Some apparent double counting with employer thrift accounts was eliminated.

xxxxxx. dollars (3 to 859,000) 0. INAP, no account (1640/2856/3527/3838/3975 cases) question: K15c B3437 B3439 B3441 B3443 B3445 (#1) (#2) (#3) (#4) (#5) TYPE OF FINANCIAL INSTITUTION WHERE ACCOUNT LOCATED. All missing values were imputed. Imputations were made using the financial services variables (K31d, K36a-c) and conditional mean tables with randomization. 1. commercial bank (1292/575/240/117/53 cases) 2. savings and loan association or savings bank (754/422/232/109/54 cases) 3. credit union (409/243/103/38/21 cases) 4. finance or loan company (1/1/0/0/0 cases) 6. brokerage company or money market mutual fund (1/2/0/0/0 cases) 7. insurance company (1/0/0/0/0 cases) 12. doctor or hospital, dentist (0/1/0/0/0 cases) 15. employer (4/0/0/1/0 cases) 29. union (1/1/0/0/0 cases) 97. other type (0/2/1/0/0 cases) 0. INAP (1640/2856/3527/3838/3975 cases) question: K15b IRA/Keogh Accounts B3446 TOTAL DOLLAR AMOUNT IN IRA OR KEOGH ACCOUNTS. The sum of the balance in IRAs and Keoghs (B3447 + B3448). No missing values. xxxxxxx. dollars (20 to 2,000,000) 0. none (3184 cases) B3447 TOTAL DOLLAR AMOUNT IN IRA ACCOUNTS. The amount in all individual retirement accounts (IRAs). All missing values were imputed. Imputations were done with a log-value regression with a random term added or using information reported in the Income Section. xxxxxxx. dollars (20 to 2,000,000) 0. none (3229 cases) question: K7,K7a B3448 TOTAL DOLLAR AMOUNT IN KEOGH ACCOUNTS. The amount in all Keogh accounts. All missing values were imputed. Imputations were done with a log-value regression with a random term added or using information reported in the Income Section. xxxxxx. dollars (5 to 550,000) 0. none (3931 cases)

question: K8,K8a B3449 B3450 B3451 B3452 (1st) (2nd) (3rd) (4th) TYPE OF FINANCIAL INSTITUTION WHERE IRA/KEOGHS LOCATED. Respondents were asked to list all institutions where the household had IRA or Keogh accounts. These four variables contain the codes of up to four mentions (for different types of institutions with multiple accounts). All missing values were imputed. Imputations were made using the financial services variables (K31b, K36a-c) and conditional mean tables with randomization. 1. commercial bank (337/0/0/0 cases) 2. savings and loan association or savings bank (211/26/0/0 cases) 3. credit union (45/7/0/0 cases) 6. brokerage company or money market mutual fund (181/59/5/2 cases) 7. insurance company (114/15/4/0 cases) 15. employer (16/9/0/0 cases) 21. real estate investment company (2/1/1/0 cases) 22. school/college/university (1/0/0/0 cases) 29. union (1/0/0/0 cases) 31. AARP (0/1/0/0 cases) 94. investment management or consulting company (3/3/1/0 cases) 97. other type (8/4/2/0 cases) 0. INAP, not that many mentions (3184/3978/4090/4101 cases) question: K9a Certificates of Deposit B3453 TOTAL DOLLAR AMOUNT OF CERTIFICATES OF DEPOSIT. The sum of all CDs (B3454 + B3455 + B3456). No missing values. xxxxxxx. dollars (100 to 3,000,000) 0. none (3244 cases) B3454 TOTAL DOLLAR AMOUNT OF ALL-SAVER CERTIFICATES OF DEPOSIT. The total of tax-free ($1000 income per person) all saver certificates. All missing values were imputed. Imputations were done with a log-value regression with a random term added or using information reported in the Income Section. xxxxxx. dollars (200 to 250,000) 0. none (3971 cases) question: K11 B3455 TOTAL DOLLAR AMOUNT OF SHORT-TERM CERTIFICATES OF DEPOSIT. The total of seven to ninety day or six month money market CDs

or retail repurchase agreements. All missing values were imputed. Imputations were done with a log-value regression with a random term added or using information reported in the Income Section. xxxxxxx. dollars (100 to 3,000,000) 0. none (3748 cases) question: K12 B3456 TOTAL DOLLAR AMOUNT OF LONG-TERM CERTIFICATES OF DEPOSIT. The total of one year or longer or small saver CDs. All missing values were imputed. Imputations were done with a log-value regression with a random term added or using information reported in the Income Section. xxxxxx. dollars (100 to 460,000) 0. none (3597 cases) question: K13 Savings Bonds B3457 TOTAL FACE AMOUNT OF U.S. GOVERNMENT SAVINGS BONDS. All missing values were imputed. Imputations were done with a log-value regression with a random term added or using information reported in the Income Section. xxxxxx. dollars (16 to 900,000) 0. none (3253 cases) question: K16,K16a Bonds B3458 TOTAL FACE AMOUNT OF BONDS. Includes all bonds except U.S. government savings bonds and bonds held in trusts, mutual funds, or unit trusts (B3459 + B3460 + B3461). No missing values. xxxxxxxx. dollars (11 to 15,000,000) 0. none (3747 cases) B3459 TOTAL FACE AMOUNT OF FEDERAL GOVERNMENT BONDS OR BILLS. Excludes U.S. savings bonds. All missing values were imputed. Imputations were done with a log-value regression with a random term added or using information reported in the Income Section. xxxxxxx. dollars (11 to 7,000,000) 0. none (3976 cases) question: K17a,K18a

B3460

TOTAL FACE AMOUNT OF STATE, COUNTY, OR MUNICIPAL BONDS. These bonds include all tax-free (federal tax) revenue bonds. All missing values were imputed. Imputations were done with a log-value regression with a random term added or using information reported in the Income Section. xxxxxxxx. dollars (25 to 15,000,000) 0. none (3858 cases) question: K17b,K18b

B3461

TOTAL FACE AMOUNT OF CORPORATE, FOREIGN, OR OTHER BONDS. Includes all other bonds not included in savings bonds, federal bonds, and municipal bonds. All missing values were imputed. Imputations were done with a log-value regression with a random term added or using information from the Income Section. xxxxxx. dollars (154 to 800,000) 0. none (3968 cases) question: K17c,K18c Stock and Mutual Funds

B3462

TOTAL DOLLAR AMOUNT OF STOCKS AND MUTUAL FUNDS. Includes all stock holdings except non-traded holdings of businesses and stock in trusts plus mutual fund holdings except for money market accounts (B3463 + B3464 + B3465 + B3466 + B3467). No missing values. xxxxxxxx. dollars (23 to 53,150,000) 0. none (3030 cases)

B3463

TOTAL DOLLAR AMOUNT OF SHARES IN TAX-FREE MUTUAL FUNDS. Includes holdings in tax-free mutual funds or unit trusts. Excludes money market mutual funds, sweep accounts, IRAs, thrifts, or pension assets. All missing values were imputed. Imputations were made using a log-value regression with a random term added or using information from the Income Section. xxxxxxx. dollars (385 to 2,250,000) 0. none (3934 cases) question: K19a,K20a

B3464

TOTAL DOLLAR AMOUNT OF SHARES IN TAXABLE MUTUAL FUNDS. Includes holdings in taxable mutual funds. Excludes money market mutual funds, sweep accounts, IRAs, thrifts, or pension assets. All missing values were imputed. Imputations were made using a log-value regression with a random term added or using

information from the Income Section. xxxxxxx. dollars (100 to 4,300,000) 0. none (3899 cases) question: K19b,K20b B3465 TOTAL DOLLAR AMOUNT OF STOCK HELD IN INVESTMENT CLUBS. Includes holdings of publicly traded stock purchased as part of an investment club of partnership. The value is the household's share. All missing values were imputed. Imputations were made using a log-value regression with a random term added or using information from the Income Section. xxxxxxx. dollars (69 to 1,500,000) 0. none (4042 cases) question: K19d,K20d B3466 TOTAL DOLLAR AMOUNT OF PUBLICLY TRADED STOCK IN OWN COMPANY. The value of publicly traded stock owned by any household member in the company where he/she works. This excludes monies in trusts, pension funds, or businesses listed in the Business Section. All missing values were imputed. Imputations were made using a log-value regression with a random term added or using information from the Income Section. Some apparent double counting with employer thrift accounts and privately owned business holdings was eliminated. xxxxxxxx. dollars (10 to 50,000,000) 0. none (3737 cases) question: K19c,K20c B3467 TOTAL DOLLAR AMOUNT OF OTHER PUBLICLY TRADED STOCK. Excludes holdings in company where household member works, mutual funds, trusts, and pension assets. All missing values were imputed. Imputations were made using a log-value regression with a random term added or using information from the Income Section. xxxxxxxx. dollars (25 to 25,000,000) 0. none (3325 cases) question: K19e,K20e B3468 NUMBER OF DIFFERENT COMPANIES IN WHICH STOCK IS OWNED. Excludes mutual funds, trusts, or pension assets. Thus, it includes stock in companies where household member works (B3466) and other publicly held stock (B3467). All missing values were imputed using conditional mean tables with randomization. xx. number of companies (1 to 95)

0. none, own no publicly traded stock (3099 cases) question: K19f B3469 NUMBER OF TIMES STOCKS PURCHASED/SOLD IN PAST YEAR. Limited to purchases and sales of publicly traded stock using a broker. Only households with a brokerage account were asked the question. All missing values were imputed. Imputations using conditional mean tables with randomization. xx. number of occasions (1 to 95) -6. none, but have a brokerage account (85 cases) 0. none, do not have a brokerage account (3549 cases) question: K21,K21a Trust Accounts B3470 TOTAL DOLLAR AMOUNT IN TRUST ACCOUNTS. Includes all monies in trust or managed investment accounts not listed previously. Excludes pension or company thrift accounts. All missing values were imputed. Imputations were done with a log-value regression with a random term added or using information from the Income Section. Some double counting with employer thrift accounts eliminated. xxxxxxxx. dollars (20 to 35,000,000) 0. none (3847 cases) question: K22,K22a B3471 WHO MANAGES THE TRUST? All missing values were imputed. Imputations were made using conditional mean tables with randomization. 1. 2. 3. 6. 7. commercial bank (85 cases) savings and loan association or savings bank (13 cases) credit union (6 cases) brokerage company or money market mutual fund (22 cases) insurance company (33 cases) 13. lawyer (7 cases) 14. accountant (3 cases) 15. employer (3 cases) 16. friend or relative (not codable above) (29 cases) 21. real estate investment company (1 case) 23. local/county/state government (1 case) 27. self (manage own trust) (24 cases) 29. union (1 case) 30. church (1 case) 94. investment, management, or consulting companies (12 cases) 96. other combination (6 cases) 97. other type (9 cases) 0. INAP, no trust (3847 cases) question: K22b

Insurance B3472 MEDICAL OR HEALTH INSURANCE. Respondent was asked if anyone in the household had medical insurance for doctor or hospital care. The answer should exclude Medicare and Medicaid. All missing values were imputed. Imputations were done with conditional mean tables with randomization. 1. household has medical insurance (3350 cases) 5. household does not have medical insurance (573 cases) question: K23 B3473 DOLLAR FACE AMOUNT OF TERM LIFE INSURANCE. The current face value of all term life policies excluding policies where a business is the beneficiary. All missing values were imputed. Imputations were done with a log-value regression with a random term added. xxxxxxx. dollars (100 to 4,000,000) 0. none, no term insurance (2056 cases) question: K24b B3474 DOLLAR FACE AMOUNT OF WHOLE LIFE INSURANCE. The current face value of all whole life policies excluding policies where a business is the beneficiary. All missing values were imputed. Imputations were done with a log-value regression with a random term added. xxxxxxx. dollars (100 to 9,000,000) 0. none, no whole life insurance (2307 cases) question: K24c B3475 DOLLAR CASH VALUE OF WHOLE LIFE INSURANCE. The current cash value of all whole life policies excluding policies where a business is the beneficiary. The value is net and excludes borrowings against the policy. All missing values were imputed. Imputations were done with a regression of the ratio of cash to face amount with a random term added. 400 respondents of 1400 with whole life policies answered the question, so the variable may be of dubious value. xxxxxxx. dollars (3 to 3,000,000) -6. none, have whole life insurance (294 cases) 0. none, no whole life insurance (2307 cases) question: K24d Other Assets

Only

B3476

TOTAL DOLLAR AMOUNT OF OTHER MISCELLANEOUS ASSETS. The sum of other assets including loans owed to household and gas leases, precious metals, boats, classic cars, campers, airplanes, cycles, antiques, art, collections, or livestock. Includes only those items listed by respondent in the "other asset" category (the sum of B3483 + B3485 + B3487). Be cautious in using this variable. No missing values. xxxxxxx. dollars (40 to 2,525,000) 0. none (3559 cases)

B3477

TOTAL DOLLAR AMOUNT OF LOANS OWED TO HOUSEHOLD AND GAS LEASES. The sum of loans owed to household from friends or others and gas/oil leases (the sum of B3483 + B3485 + B3487 when B3482, B3484, or B3486 respectively, are coded 61, 62, or 71). No missing values. xxxxxxx. dollars (100 to 1,200,000) 0. none (4003 cases)

B3478

TOTAL DOLLAR AMOUNT OF PRECIOUS METALS. The sum of gold, silver, or other precious metals owned by household (the sum of B3483 + B3485 + B3487 when B3482, B3484, or B3486 respectively, are coded 1, 2, or 3). No missing values. xxxxxx. dollars (300 to 400,000) 0. none (4043 cases)

B3479

TOTAL DOLLAR AMOUNT OF BOATS. The total dollar value of boats owned by household (the sum of B3483 + B3485 + B3487 when B3482, B3484, or B3486 respectively, are coded 51). No missing values. xxxxxxx. dollars (100 to 1,500,000) 0. none (4002 cases)

B3480

TOTAL DOLLAR AMOUNT OF CLASSIC CARS/CAMPERS/ AIRPLANES/CYCLES. The total dollar value of antique cars, campers, trailers, airplanes, or motorcycles owned by the household (the sum of B3483 + B3485 + B3487 when B3482, B3484, or B3486 respectively, are coded 11, 52, 53, or 54). Excludes any vehicles listed in the Vehicle Section. No missing values. xxxxxxx. dollars (400 to 1,000,000) 0. none (4064 cases)

B3481

TOTAL DOLLAR AMOUNT OF ANTIQUES, ART, COLLECTIONS, LIVESTOCK. The total dollar value of jewelry or gem stones, antiques, art objects, rare books, coin or stamp collections, guns, cemetery plots, china or figurines, musical instruments, livestock or

horses, or or oriental rugs owned by household (the sum of B3483 + B3485 + B3487 when B3482, B3484, or B3486 respectively, are coded 10, 12-17, or 19-23). No missing values. xxxxxxx. dollars (40 to 2,000,001) 0. none (3765 cases) B3482 (#1) B3484 (#2) B3486 (#3) TYPES OF OTHER ASSETS, LISTED INDIVIDUALLY. Codes are listed for up to three other types of assets. Real estate assets moved to Other Properties Section. A word of caution should be said about using these variables. Respondent was asked about other savings and investments including loans, antiques, precious metals or art held for investment purposes. Respondent thus "self-defined" whether art, for example, was for investment or other purposes (in which case it presumably is not reported). Moreover, the value listed is that assigned by the respondent, with different assessment standards probably used. Some estimates look to be very dubious. 1. gold (13/5/0 cases) 2. silver (11/10/6 cases) 3. other metals or metals NA type (12/5/2 cases) 10. jewelry; gem stones (61/35/9 cases) 11. cars (antique or classic) (13/4/2 cases) 12. antiques (106/32/11 cases) 13. art objects (42/27/10 cases) 14. rare books (5/0/1 cases) 15. coin collections (41/9/1 cases) 16. stamp collections (9/3/1 cases) 17. guns (9/4/0 cases) 19. cemetery plots (6/0/0 cases) 20. china, figurines (6/5/3 cases) 21. musical instruments (5/0/0 cases) 22. livestock, horses (3/1/0 cases) 23. oriental rugs (3/3/0 cases) 51. boat (95/11/1 cases) 52. camper; trailer (10/3/0 cases) 53. airplane (4/2/2 cases) 54. motorcycle (2/1/0 cases) 61. loans to friends/relatives (54/13/4 cases) 62. other loans or debts owed to household (21/6/1 cases) 71. oil/gas leases/investments (13/1/0 cases) 0. INAP, no asset (3559/3923/4049 cases) question: K27a B3483 (#1) B3485 (#2) B3487 (#3) DOLLAR AMOUNT OF OTHER ASSETS, LISTED INDIVIDUALLY. The dollar amount of up to three other assets are listed. All missing values are imputed for loans and gas leases. Imputations were done with a log-value regression for each type of asset with a random term added. xxxxxxx. dollars (40 to 1,500,000) 0. INAP (3559/3923/4049 cases)

question: K27b BUSINESS ASSETS (A) First business (B) Second business Respondents were asked about any privately-held businesses, farms, professional practices and partnerships which he/she owned or shared ownership in. Data were reported for the aggregate value of such firms in which no member of the household had an active management role, and for detailed data on up to two firms in which a household member had an active management role. There is some potential inconsistency with how respondents assigned property owned by partnerships between this section and the Other Properties Section. The high-income sample was imputed separately from the area probability sample. Net Value of Businesses B3501 NET VALUE OF BUSINESS WITH NO MANAGEMENT INTEREST. Excludes publicly traded stock holdings and properties listed in the Other Properties Section. All missing values were imputed. Imputations were done with a log-value regression with a random term added. xxxxxxxx. dollars (100 to 15,000,000) -6. worthless, but have non-management business (5 cases) 0. none, no business (3796 cases) question: K25a,K25b,K26m,K26n B3502 TOTAL VALUE OF BUSINESS WITH A MANAGEMENT INTEREST. Excludes publicly traded stock holdings and properties listed in the Other Properties Section (the sum of B3503 + B3516). No missing values. xxxxxxxx. dollars (-4,000 to 74,000,000) -6. worthless, but have management business (8 cases) 0. none (3432 cases) B3503 (A) B3516 (B) NET VALUE OF EACH BUSINESS WITH A MANAGEMENT ROLE. The variable is the net equity value plus debts owed by the business to the household minus debt owed by the household to the business (B3503 equals B3509 + B3506 - B3507 and B3516 equals B3522 + B3519 B3520). No missing values. xxxxxxxx. dollars (-4,000 to 73,000,000) -6. business is worthless (12/4 cases) 0. INAP, no business (3432/3955 cases) Organization of Businesses With a Management Role

B3504 (A) B3517 (B)

KIND OF BUSINESS. All missing values were imputed. Imputations were done with conditional mean tables and from occupations and industry codes given for self-employed persons working in business. 1. farm, nursery, agricultural service, landscaping (114/15 cases) 2. restaurant (13/1 cases) 3. auto repair (13/2 cases) 4. direct sales; Amway; Avon; Mary Kay; Tupperware; Stanley home products (21/5 cases) 5. contracting; construction services; plastering; painting; plumbing (63/3 cases) 6. real estate; insurance (63/42 cases) 7. professional practice including law, medicine, architecture, accounting (105/12 cases) 8. beauty shop (7/2 cases) 9. manufacturing, including printing and publishing (70/17 cases) 10. gas station (4/1 cases) 11. food, liquor stores (10/0 cases) 12. other wholesale or retail outlets (72/15 cases) 13. trucking; moving and storage (11/2 cases) 14. repair services; appliances, TV, upholstery, furniture, shoes (15/1 cases) 15. personal services, including hotels, dry cleaners, funeral homes (7/4 cases) 16. entertainment services, including dance studios and drive in theaters (6/4 cases) 17. business management and consulting services (25/9 cases) 18. other business services, including advertising, equipment rental, computer programming, and pest control (26/9 cases) 19. banks and brokerage firms (13/3 cases) 20. other kind (13/1 cases) 0. INAP (3432/3955 cases)

question: K26 B3505 (A) B3518 (B) LEGAL STRUCTURE. All missing values were imputed. Imputations were done with conditional mean tables with randomization. 1. 2. 3. 0. proprietorship (254/39 cases) partnership (170/49 cases) corporation (247/60 cases) INAP (3432/3955 cases)

question: K26a Debts of/to Businesses With a Management Role B3506 (A) B3519 (B) DOLLAR AMOUNT OWED TO HOUSEHOLD BY BUSINESS. All missing values were imputed. Imputations were done with a ratio regression after the value of the

business was cleaned.

Random terms were added.

xxxxxxx. dollars (150 to 2,500,000) -6. none (538/119 cases) 0. INAP (3432/3955 cases) question: K26b,K26c B3507 (A) B3520 (B) DOLLAR AMOUNT OWED TO BUSINESS BY HOUSEHOLD. All missing values were imputed. Imputations were done with a ratio regression after the value of the business was cleaned. Random terms were added. xxxxxx. dollars (100 to 200,000) -6. none (642/141 cases) 0. INAP (3432/3955 cases) question: K26d,K26e Household Equity in Business B3508 (A) B3521 (B) PERCENTAGE OF BUSINESS OWNED BY HOUSEHOLD. All missing values were imputed. xxxx. percentage times 10 (1 to 1000) 0. INAP (3432/3955 cases) question: K26f B3509 (A) B3522 (B) VALUE OF HOUSEHOLD'S NET SHARE IN THE BUSINESS. Self-evaluation of the worth of the household's share. Some values appear to be excessive. All missing values were imputed. Imputations were done after constructing household income, participation and cash flow variables and cleaning of net income variables. Log-value regressions were run for imputations by type of business using the above variables as predictors. xxxxxxxx. dollars (80 to 73,000,000) -6. worthless (16/4 cases) 0. INAP (3432/3955 cases) question: K26g Business Income Data B3510 (A) B3523 (B) BUSINESS'S GROSS RECEIPTS OR SALES IN 1982. Total sales/receipts, not just the household's share. All missing values wereimputed. Imputations were done after household participation and cash flow variables were constructed. Imputations were done using a log-value regression by type of business with the above variables and net income (when supplied).

xxxxxxxxxx. -4. -6. 0. question: K26h B3511 (A) B3524 (B)

dollars (100 to 3,500,000,000) small negative amount (1/0 cases) none, no sales/receipts (38/13 cases) INAP (3432/3955 cases)

BUSINESS'S NET INCOME IN 1982. Total net income, not just the household's share. All missing values were imputed. Imputations were done using income or wage variables where possible. Regression imputations were done from log-value regressions by type of business using participation variables and other demographics. xxxxxxxx. -4. -6. 0. dollars (-12,000,000 to 84,300,000) a small loss (16/7 cases) none, no net income (75/28 cases) INAP (3432/3955 cases)

question: K26j B3512 (A) B3525 (B) HOUSEHOLD'S INCOME FROM BUSINESS IN 1982. A constructed variable. Includes all salary earnings that could be attributed to business plus non-retained earnings. These were determined from the Income Section and the household's portion of net income. No missing values. xxxxxxx. -4. -6. 0. B3513 (A) B3526 (B) dollars (-27,444 to 3,425,887) a small loss (10/7 cases) none, no net income (83/46 cases) INAP (3432/3955 cases)

HOUSEHOLD'S SHARE OF RETAINED EARNINGS IN BUSINESS IN 1982. A constructed variable. Computed by subtracted business earnings as reported in the Income Section (and sometimes wages) from the household's share of net income. No missing values. xxxxxxxx. -4. -6. 0. dollars (-2,355,000 to 30,000,000) a small loss (1/0 cases) none, no net income (553/117 cases) INAP (3432/3955 cases)

Household Participation B3514 (A) B3527 (B) HEAD'S PARTICIPATION IN BUSINESS. A constructed variable. Determined from job variables and earnings information whether management role in the business was head's major job. The head is the respondent for single persons and the husband for married couples. No missing values.

1. business was head's major job in 1982 (444/48 cases) 5. business was not head's major job in 1982 (227/100 cases) 0. INAP (3432/3955 cases) B3515 (A) B3528 (B) SPOUSE'S PARTICIPATION IN BUSINESS. A constructed variable. Determined from job variables and earnings information whether management role in the business was spouse's (wife) major job. No missing values. 1. business was spouse's major job in 1982 (114/16 cases) 5. business was not spouse's major job in 1982 (465/113 cases) 0. INAP, no spouse (3524/3974 cases) LAND CONTRACTS OR LOANS/NOTES OWED TO HOUSEHOLD (A) First land contract/note (B) Second land contract/note (C) Third land contract/note Respondents were asked if he/she had ever sold real estate for which he/she loaned money to the buyer or issued a land contract which was still outstanding. Any property sold by a business he/she owned was excluded. Individual data for up to three of these notes and/or land contracts is given. These are household assets. Value of Aggregate Land Contracts and Notes B3601 AGGREGATE GROSS VALUE OF LAND CONTRACTS AND NOTES. The total gross current value of land contracts or notes owed to household (B3605 + B3620 + B3635). These are household assets. No missing values. xxxxxxx. dollars (124 to 2,627,339) 0. none (3900 cases) B3602 AGGREGATE AMOUNT OWED AGAINST LAND CONTRACTS/NOTES. The total amount owed by household on loans against properties with land contracts or notes owed to household (B3607 + B3622 + B3637). These are household liabilities. No missing values. xxxxxxx. dollars (200 to 1,733,000) 0. none (4063 cases) B3603 AGGREGATE NET EQUITY IN LAND CONTRACTS AND NOTES. The total gross value of amount owed to household minus amount owed by household on loans against properties with land contracts or notes (B3601 - B3602). No missing values. xxxxxxx. dollars (-17,421 to 2,000,000) 0. none (3900 cases) Type of Asset

B3604 (A) B3619 (B) B3634 (C)

NOTE OR LAND CONTRACT. All missing values were imputed. 1. note (131/34/12 cases) 2. land contract (72/12/6 cases) 0. INAP, no loan or land contract (3900/4057/4085 cases)

question: C19a Value of Individual Land Contracts and/or Notes Owed to Household B3605 (A) B3620 (B) B3635 (C) GROSS PRESENT VALUE. This variable is directly answered for all notes, and is the amount still outstanding on the note . It is a household asset. For land contracts (B3604, B3619, or B3634 equals 2), it is directly answered if the land contract does not have regular payments. Otherwise it is calculated from the date the land contract is due, the payment frequency, the number of original payments, the payment size (PAYMENT), balloon size (BALLOON), and an assigned discount rate (INTEREST) set to the government bond rate at the time of the survey (.1085). The value formula is then: VALUE=PAYMENT*((1-1/(1+INTEREST/12)**PAYLEFT)/(INTEREST/12)) +BALLOON/((1+INTEREST/12)**PAYLEFT) where PAYLEFT is the number of payments left. All missing values were imputed. For notes, imputations used a regression of log-value with a random term added For land contracts payment terms were individually imputed where necessary. xxxxxxx. dollars (124 to 2,000,000) 0. INAP, no loan or land contract (3900/4057/4085 cases) question: C19b,C19d B3606 (A) B3621 (B) B3636 (C) NET EQUITY. Gross present value of land contract or loan minus amount owed by the household on loans against the property sold by note or contract (B3605 - B3607, B3620 - B3622, or B3635 - B3637). No missing values. xxxxxxx. dollars (-39,000 to 2,000,000) -6. net equity is zero but have loan/land contract (1/1/1 cases) 0. INAP (3900/4057/4085 cases) B3607 (A) B3622 (B) B3637 (C) AMOUNT OWED BY HOUSEHOLD ON LOAN/LAND CONTRACT PROPERTY. The amount household owes on loans against the property sold by note or land contract. These are household liabilities. All missing values were imputed. Imputations were done with a regression of log-value with a random term added. xxxxxxx. dollars (200 to 1,137,000) 0. none, INAP (4070/4092/4096 cases)

question: C19i,C19j B3608 (A) B3623 (B) B3638 (C)

Date of Land Contract

MONTH LAND CONTRACT TAKEN OUT. Computed only for land contracts. The origination date was computed from the current date, the date the land contract is due, the payment frequency, and the original number of payments. xx. month (1 to 12) 0. INAP, no land contract (4031/4091/4097 cases)

B3609 (A) B3624 (B) B3639 (C)

YEAR LAND CONTRACT TAKEN OUT. Computed only for land contracts. The origination date was computed from the current date, the date the land contract is due, the payment frequency, and the original number of payments. xxxx. year (1957 to 1983) 0. INAP (4031/4091/4097 cases)

B3610 (A) B3625 (B) B3640 (C)

MONTH LAND CONTRACT DUE. Answered only for land contracts. imputed. xx. month (1 to 12) 0. INAP (4031/4091/4097 cases)

All missing values were

question: C19f B3611 (A) B3626 (B) B3641 (C) YEAR LAND CONTRACT DUE. Answered only for land contracts. imputed. xxxx. year (1983 to 2009) 0. INAP (4031/4091/4097 cases) question: C19f B3612 (A) B3627 (B) B3642 (C) ORIGINAL MATURITY IN MONTHS. Calculated form the date the land contract was taken out and the date it is due. Calculated only for land contracts. No missing values. xxx. months (24 to 360) 0. INAP (4031/4091/4097 cases) Amount Originally Borrowed on Land Contract B3613 (A) B3628 (B) B3643 (C) AMOUNT BORROWED. A calculated variable for all land contracts. An estimate of the original value of the land contract was computed

All missing values were

using the formula: VALUE=PAYMENT*((1-1/(1+INTEREST/12) **ORIGPAY)/(INTEREST/12))+BALLOON/((1+INTEREST/12)**ORIGPAY) where INTEREST is the interest rate assumed to be used in setting up the contract, BALLOON is the reported balloon payment (if any), PAYMENT is the payment size, and ORIGPAY is the original number of payments. All contracts were arbitrarily assigned average conventional mortgage rates for the time the land contract was issued, as reported in the Federal Reserve Bulletin. These were: 1971=7.6%, 1972=7.45%, 1973=7.78%, 1974=8.71%, 1975=8.75%, 1976=8.76%, 1977=8.80%, 1978=9.30%, 1979=10.48%, 1980=12.12%, 1981=14.16%, 1982=14.47%, 1983=12.20%. xxxxxxx. dollars (2,919 to 1,331,315) 0. INAP (4031/4091/4097 cases) Payments B3614 (A) B3629 (B) B3644 (C) SIZE OF EACH LAND CONTRACT PAYMENT. Answered for land contracts only. All missing values were imputed. xxxxx. dollars (50 to 32,724) 0. INAP (4031/4091/4097 cases) question: C19c B3615 (A) B3630 (B) B3645 (C) FREQUENCY OF LAND CONTRACT PAYMENTS. Answered for land contracts only. All missing values were imputed. 5. monthly (60/9/5 cases) 6. yearly (12/3/1 cases) 0. INAP (4031/4091/4097 cases) question: C19c B3616 (A) B3631 (B) B3646 (C) ORIGINAL NUMBER OF LAND CONTRACT PAYMENTS. Answered for land contracts only. All missing values were imputed. xxx. number (2 to 360) 0. INAP (4031/4091/4097 cases) question: C19d B3617 (A) B3632 (B) B3647 (C) NUMBER OF LAND CONTRACT PAYMENTS LEFT. Calculated from the original number of payments, the date of the land contract, and the current date. Calculated only for land contracts. All missing values were imputed. xxx. number (1 to 320) 0. INAP (4031/4091/4097 cases)

B3618 (A) B3633 (B) B3648 (C)

AMOUNT OF BALLOON PAYMENT ON LAND CONTRACT (IF ANY). Answered only for land contracts. All missing values were imputed. xxxxxx. dollars (2,000 to 550,000) 0. none, INAP (4077/4100/4102 cases)

question: C19g,C19h HOUSING Residential Information B3701 LENGTH OF TIME RESPONDENT HAS LIVED IN COUNTY. Answered by survey respondent. All missing values were imputed. xx. years (1 to 90) -7. all of their life (270 cases) question: C1 B3702 RESIDENTIAL OWNERSHIP CODE. All missing values were imputed. 1. own; buying; or land contract (2766 cases) 2. pays rent (1243 cases) 3. neither owns nor rents -- live-in servant; housekeeper; gardener; farm laborer; others for whom housing is part of compensation (janitors, nurses) (41 cases) 4. neither owns nor rents -- house is a gift paid for by someone outside household, household pays only taxes (46 cases) 5. neither owns nor rents -- sold home, has not moved yet (1 case) 6. neither owns nor rents -- living in house which will inherit, estate in process (1 case) 7. neither owns nor rents -- living in temporary quarters (garage or shed) while home is under construction (1 case) 8. other arrangement (4 cases) question: C2 B3703 TYPE OF STRUCTURE IN WHICH HOUSEHOLD LIVES. All missing values were imputed using conditional mean tables with randomization. 1. trailer; mobile home (232 cases) 2. detached single family house (2786 cases) 3. 2-family house, 2 units side by side (143 cases) 4. 2-family house, 2 units one above the other (110 cases) 5. detached 3-4 family house (41 cases) 6. row house, 3 or more units in an attached row (127 cases) 7. apartment house, 4 or fewer units (129 cases) 8. apartment house, 5 or more units, 3 stories or less (326 cases) 9. apartment house, 5 or more units, 4 stories or more (194 cases) 10. apartment in a commercial structure (4 cases)

11. other type (11 cases) question: X5 B3704 FARM FAMILY. 1. yes (64 cases) 5. no (4039 cases) Rental Information B3705 AMOUNT OF RENT PER MONTH. Answered for all observations who are currently renting (B3702 = 2). All missing values were imputed. Imputations were done with a regression for log-rent with a random term added. xxxx. dollars (19 to 3,000) 0. INAP, do not rent (2860 cases) question: C4 B3706 UTILITIES INCLUDED. All missing values were imputed. Imputations were done with conditional mean tables with randomization. 1. 3. 5. 0. includes utilities (190 cases) some utilities included (240 cases) does not include utilities (813 cases) INAP (2860 cases)

question: C4a B3707 RENTED FURNISHED. All missing values were imputed. Imputations were done with conditional mean tables with randomization. 1. 3. 5. 0. furnished (122 cases) partially furnished (68 cases) unfurnished (1053 cases) INAP (2860 cases)

question: C4b Home Value B3708 CURRENT VALUE OF HOME. Answered only if the home is owned (or buying) (B3702 = 1). All missing values were imputed. The imputation was done by extrapolation from the purchase price or first mortgage value, or by regression for log-value with a random term added. The extrapolation was based on the purchase price and date and regional housing price indices appropriate for the location of the household. xxxxxxx. dollars (318 to 5,000,000)

0. INAP, do not own residence (1337 cases) question: C5 B3709 NET EQUITY IN HOME EXCLUDING SECOND MORTGAGE. The current value of the home minus the amount outstanding on the first mortgage (B3708 - B4002). This variable can be negative. No missing values. xxxxxxx. dollars (-45,554 to 4,773,260) 0. INAP (1337 cases) B3710 NET EQUITY IN HOME. The current value of the home minus the amount outstanding on the first and second mortgage (B3708 - B4002 - B4024). This variable can be negative. No missing values. xxxxxxx. dollars (-45,554 to 3,494,570) 0. INAP (1337 cases) Purchase Information B3711 MONTH HOME PURCHASED. Answered only if the home is owned (or buying). values were imputed. All missing

xx. month (1 to 12) -6. household inherited home and no date given (61 cases) 0. INAP (1337 cases) question: C6 B3712 YEAR HOME PURCHASED. All missing values were imputed. xxxx. year (1900 to 1983) -6. household inherited home and no date given (61 cases) 0. INAP (1337 cases) question: C6 B3713 PURCHASE PRICE OF HOME. All missing values were imputed. Imputations were done extrapolating backward from current value using regional price indices or from the original amount borrowed on a mortgage. xxxxxxx. dollars (100 to 1,400,000) -6. household inherited home (64 cases) 0. INAP (1337 cases) question: C7

B3714

HOME APPRECIATION. This variable measures the purchase price of the home as a fraction of the current price (100 times B3713/B3708). If the purchase price were 1/2 the current value, for example, then B3714 would equal 50. No missing values. xxxx. percentage times 10 (2 to 8000) -6. household inherited home (64 cases) 0. INAP (1337 cases)

B3715

AVERAGE APPRECIATION. This variable measures the average existing home (single family) purchase prices in the quarter that the respondent bought their home as a fraction of the average existing home purchase price at the time of the survey. These data are national averages as published by the National Association of Realtors. These data only go back to 1963. If prevailing prices at the time of the survey equal those when the home was purchased then B3715 would equal 100. xxxx. percentage times 10 (254 to 1000) -6. household inherited home (64 cases) -9. household purchased home prior to 1963 (654 cases) 0. INAP (1337 cases)

B3716

AVERAGE REGIONAL APPRECIATION. This variable is identical to B3715 except that an annual index for each of the four census-defined regions of the country are used rather than a quarterly national index. For high-income respondents B3716 will equal B3715. xxxx. -6. -9. 0. percentage times 10 (235 to 1011) household inherited home (64 cases) household purchased home prior to 1963 (654 cases) INAP (1337 cases) Home Mortgage Data Summary

B4009 (1st) AMOUNT ORIGINALLY BORROWED FOR THOSE WITH B4031 (2nd) MORTGAGES. All missing values were imputed. Imputations were made using purchase price information and regionally adjusted loan-to-value ratios. For second mortgages imputations were derived from a regression of the ratio of second mortgages-to- home value with a random term added. Data for the first mortgage is given in B4009 and for the second (if any) in B4031. Other variables reflecting other terms of mortgage loans (payment size, payment frequency, due date, source of borrowing, interest rate, variable rate terms, and Federal guarantees) are given in the Home Mortgage Section. xxxxxxx. dollars (833 to 1,560,000) 0. none (2506/3929 cases)

question: C10 B4002 (1st) B4024 (2nd) AMOUNT OUTSTANDING ON MORTGAGE. This variable is directly answered if the mortgage does not have regular payments; otherwise, it is computed from information on the mortgage terms. Computation details are given in the Home Mortgage Section. The first mortgage is given in B4002 and the second (if any) in B4024. No missing values. xxxxxxx. dollars (49 to 1,560,000) 0. none (2506/3929 cases) question: C11a OTHER PROPERTIES (A) (B) (C) (D) First property Second property Third property Fourth property (from other asset section)

Respondents were asked to list any real estate or properties that the household owned excluding their principal residence and properties owned by a business (these should be included in the Business Section). If properties were jointly owned with others (e.g. partnerships) values for only the household's interest should be given. Data is given for up to three properties with values and mortgage information given for each. The fourth property has been moved from the "other asset" and "other loan" section. Value of Aggregate Other Property B3801 AGGREGATE GROSS VALUE OF OTHER PROPERTIES. The total gross value of other properties (B3805 + B3822 + B3839 + B3856). No missing values. xxxxxxxx. dollars (100 to 50,000,000) 0. none (3140 cases) B3802 AGGREGATE AMOUNT OUTSTANDING ON OTHER PROPERTY MORTGAGES. The total outstanding debt on other properties (B3806 + B3823 + B3840 + B3857). No missing values. xxxxxxx. dollars (94 to 8,070,427) 0. none (3660 cases) B3803 AGGREGATE NET EQUITY IN OTHER PROPERTIES. The total gross value minus the total outstanding debt (B3801 - B3802). No missing values. xxxxxxxx. dollars (-110,350 to 50,000,000) -6. net equity is zero but own other property (1 case) 0. none (3140 cases)

Type of Property B3804 B3821 B3838 B3855 (A) (B) (C) (D) TYPE OF PROPERTY. All missing values were imputed (except B3855) using conditional mean tables with randomization. 10. farm or farmland -- any mention, ranch (68/13/5/0 cases) 11. land only (lot, tract, acreage) (except 15); building lots (319/100/40/0 cases) 12. land (more than lot size) and seasonal residence (except 14) (9/1/0/0 cases) 13. land (more than lot size) and some other type of structure (9/4/0/0 cases) 14. land (more than lot size) and trailer/mobile home (2/4/0/0 cases) 21. seasonal house (winter/summer home; cottage; hunting cabin) with lot (156/41/11/0 cases) 22. trailer/mobile home used as a seasonal dwelling (must be permanently set up on the site) with lot (7/1/0/0 cases) 24. trailer/mobile home used as a seasonal dwelling (must be permanently set up on the site) and some other structure with lot (1/1/0/0 cases) 25. time-share ownership -- any (6/1/0/0 cases) 30. house(s), duplex (204/66/24/0 cases) 31. apartment building(s) (45/20/7/0 cases) 32. business/commercial property (other than 30,31) (49/29/17/0 cases) 33. apartment building and business property (1/0/1/0 cases) 34. "rental property" -- NA which above; "rental units" (21/9/4/0 cases) 35. condominium (NA if for own use) (59/33/9/0 cases) 97. other type (4/2/0/0 cases) -9. NA (for B3855 only, 0/0/0/19 cases) 0. INAP (3143/3778/3985/4084 cases)

question: C21 Value of Individual Other Property B3805 B3822 B3839 B3856 (A) (B) (C) (D) GROSS VALUE. All missing values were imputed. The imputation used either data from mortgage value (if given) or from regressions of log-value with a random term added. xxxxxxxx. dollars (100 to 50,000,000) 0. INAP, no property (3143/3778/3985/4084 cases) question: C22 B3806 B3823 B3840 B3857 (A) (B) (C) (D) AMOUNT OUTSTANDING ON MORTGAGE OR DEBT ON PROPERTY (IF ANY). This variable is directly answered if the mortgage does not have regular payments and for (D). Otherwise it is calculated

from the date the mortgage was taken out, the payment frequency, the number of riginal payments, the payment size (PAYMENT), balloon size (BALLOON), and the interest rate (INTEREST). For a monthly payment mortgage, for example, the formula would be: VALUE=PAYMENT*((1-1/(1+INTEREST/12)**PAYLEFT)/(INTEREST/12)) +BALLOON/((1+INTEREST/12)**PAYLEFT) where PAYLEFT is the number of payments left. No missing values. xxxxxxx. dollars (94 to 7,823,941) 0. INAP, no mortgage on property (3720/3973/4058/4099 cases) question: C23d B3807 B3824 B3841 B3858 (A) (B) (C) (D) NET EQUITY. The gross value minus the amount outstanding on mortgages (if any), (B3805, etc. minus B3806 etc.). No missing values. xxxxxxxx. dollars (-83,260 to 50,000,000) -6. net equity is zero but own property (1/0/1/0 cases) 0. INAP, no property (3143/3778/3985/4084 cases) Date of Mortgage B3808 (A) B3825 (B) B3842 (C) MONTH LOAN TAKEN OUT. Answered only if mortgage on property. were imputed. All missing values

xx. month (1 to 12) 0. INAP, no mortgage on property (3720/3973/4058 cases) question: C23a B3809 (A) B3826 (B) B3843 (C) YEAR LOAN TAKEN OUT. All missing values were imputed. xxxx. year (1956 to 1983) 0. INAP (3720/3973/4058 cases) question: C23a B3810 (A) B3827 (B) B3844 (C) MONTH LOAN DUE. The variable is directly answered if the mortgage does not have regular payments. Otherwise it is calculated from the date the mortgage was taken out, the payment frequency, and the number original payments. If the calculated due date is before the survey date, the month due is coded as -9. xx. month (1 to 12) -9. NA, due prior to current date for regular payment mortgages (15/5/3 cases)

0. INAP (3720/3973/4058 cases) question: C23e B3811 (A) B3828 (B) B3845 (C) YEAR LOAN DUE. The variable is directly answered if the mortgage does not have regular payments. Otherwise it is calculated from the date the mortgage was taken out, the payment frequency, and the number original payments. If the calculated due date is before the survey date, the year due is coded as -9. xxxx. year (1983 to 2019) -9. NA, due prior to current date for regular payment mortgages. (15/5/3 cases) 0. INAP (3720/3973/4058 cases) question: C23e B3812 (A) B3829 (B) B3846 (C) ORIGINAL MATURITY IN MONTHS. Calculated from the date the mortgage was taken out and the date it is due. When added to the date the loan was taken out this should equal the due date, except for loans past due. No missing values for regular payment mortgages. xxx. months (4 to 480) -9. NA (10/5/2 cases) 0. INAP (3720/3973/4058 cases) Amount Borrowed on Mortgage B3813 (A) B3830 (B) B3847 (C) AMOUNT BORROWED All missing values were imputed. Imputations were made using sample-generated loan-to-value ratios adjusted for the date of the mortgage and estimates of the value of the property. xxxxxxxx. dollars (1,000 to 15,000,000) 0. INAP (3720/3973/4058 cases) question: C23b Payments/interest B3814 (A) B3831 (B) B3848 (C) SIZE OF EACH PAYMENT. Answered if the mortgage has regular payments (B3815, B3832, or B3849 equals 5 or 6). All missing values were imputed. If all other terms were known, missing payment size terms could be derived assuming an interest rate prevailing at the date of the mortgage. xxxxxx. dollars (16 to 155,773) -6. no regular payments (21/8/5 cases)

0. INAP (3720/3973/4058 cases) question: C23c B3815 (A) B3832 (B) B3849 (C) FREQUENCY OF PAYMENTS. All missing values were imputed. 5. 6. 8. 0. monthly (330/110/36 cases) yearly (32/12/4 cases) no regular payments (21/8/5 cases) INAP (3720/3973/4058 cases)

question: C23c B3816 (A) B3833 (B) B3850 (C) ORIGINAL NUMBER OF PAYMENTS. Answered only if regular payments (B3815, B3832, or B3849 equals 5 or 6). All missing values were imputed. xxx. number (4 to 480) 0. no regular payments, INAP (3741/3981/4063 cases) question: C25 B3817 (A) B3834 (B) B3851 (C) NUMBER OF PAYMENTS LEFT. Calculated from the original number of payments, the date of the mortgage, and the current date. If the mortgage was determined to be overdue, the number of payments left was imputed. No missing values. xxx. number (1 to 422) 0. no regular payments, INAP (3741/3981/4063 cases) B3818 (A) B3835 (B) B3852 (C) AMOUNT OF BALLOON PAYMENT (IF ANY). Answered only if regular payments. All missing values were imputed. xxxxxxx. dollars (97 to 1,300,000) 0. none, no regular payment, INAP (4069/4093/4098 cases) question: C26,C26a B3819 (A) B3836 (B) B3853 (C) ANNUAL RATE OF INTEREST. Answered directly for all mortgages with no regular payments. If the mortgage has regular payments and all payment terms were given, the interest rate was solved for from the implied repayment pattern. In cases where this was inconsistent with the interest rate given by respondent, the solved for rate was generally used. If the interest rate was missing and other payment terms as well, the average conventional mortgage rate, as reported in the Federal Reserve Bulletin for the date of the mortgage (month and year), was assigned. Yearly averages for these terms were:

1971=7.6%, 1972=7.45%, 1973=7.78%, 1974=8.71%, 1975=8.75%, 1976=8.76%, 1977=8.80%, 1978=9.30%, 1979=10.48%, 1980=12.12%, 1981=14.16%, 1982=14.47%, 1983=12.20%. xxx. percentage rate times 10 (14 to 210) -6. zero (1/0/0 cases) 0. INAP (3720/3973/4058 cases) question: C28 Source of Mortgage B3820 (A) B3837 (B) B3854 (C) SOURCE OF MORTGAGE. All missing values were imputed. Imputations were made using the financial services questions (K31f, K36a-c) and conditional mean tables with randomization. 1. commercial bank (114/42/16 cases) 2. savings and loan association or savings bank (123/43/12 cases) 3. credit union (4/1/1 cases) 4. finance or loan company (4/3/0 cases) 5. store or dealer (1/0/0 cases) 6. brokerage company or money market mutual fund (1/0/1 cases) 7. insurance company (4/0/0 cases) 8. mortgage company (24/10/3 cases) 9. contractor or developer (24/7/2 cases) 10. prior owner (60/18/7 cases) 15. employer (1/1/0 cases) 16. friend or relative (not codable above) (5/1/1 cases) 17. individual lender (not codable above) (2/0/0 cases) 21. real estate investment company (3/0/0 cases) 24. federal government: FMHA, SBA, VA, FHA, HUD, NDSL (9/2/1 cases) 25. other federal government, IRS (1/0/0 cases) 93. farm related lenders (not codable above) (1/0/0 cases) 96. other combinations (1/1/0 cases) 97. other source (1/1/1 cases) 0. INAP (3720/3973/4058 cases) question: C28 VEHICLES (A) Vehicle one (B) Vehicle two (C) Vehicle three Number of Vehicles B3901 NUMBER OF VEHICLES OWNED. All missing values were imputed. 1. one (1487 cases) 2. two (1363 cases) 3. three (426 cases)

4. four (158 cases) 5. five or more (75 cases) 0. none (594 cases) question: E2 B3902 TOTAL GROSS MARKET VALUE OF VEHICLES. The sum of the gross market value of the three vehicles listed in the Vehicle Section (B3906 + B3915 + B3924) plus estimates of other vehicle value if more than three vehicles are owned. Values for the 4th and 5th vehicles were estimated from loan balances if the vehicles were financed (these loans would appear in the other loan categories and be identifiable as vehicle loans from the purpose of the loan). Some other vehicles were listed in the "other asset" section, and their values included here. Finally, if other vehicles were owned but not listed nor financed, the value for each was estimated as 75% (for the 4th vehicle) and 65% (for the 5th vehicle) of the value of the third vehicle. These percentages are extrapolations from the calculated relationships between the observed 3 vehicles. All missing values were imputed. xxxxxx. dollars (68 to 109,337) 0. none (no vehicles) (594 cases) Type of Vehicle B3903 (A) B3912 (B) B3921 (C) GENERAL CLASSIFICATION. 1. 2. 3. 4. 5. 6. 7. 0. car (2987/1447/450 cases) van (96/80/21 cases) pickup (354/403/140 cases) motorhome (10/12/17 cases) jeep (54/61/18 cases) truck (except pickup) (8/17/13 cases) other (0/2/0 cases) INAP, no vehicle (594/2081/3444 cases)

question: E3 B3904 (A) B3913 (B) B3922 (C) MAKE AND MODEL. 111. 112. 113. 116. 117. 118. 119. 121. 122. 125. 126. 127. 128. low-price domestic Chevrolet Vega (13/14/4 cases) Pontiac Astre (0/1/0 cases) Chevrolet Chevette (57/17/4 cases) Chevrolet Nova; Chevy II (56/28/11 cases) Pontiac Ventura; Phoenix (19/5/1 cases) Oldsmobile Omega (14/9/0 cases) Buick Skylark (1975 to date); Apollo (38/17/1 cases) Ford Pinto; Escort/EXP (68/24/10 cases) Mercury Bobcat; Lynx/LN7 (12/6/0 cases) Ford Falcon (prior to 1970) (2/5/1 cases) Ford Fairmont; Tempo; Maverick (67/28/12 cases) Mercury Comet (1971 to date); Zephyr (16/7/1x cases) Ford Granada (34/21/2 cases)

129. 131. 132. 135. 136. 137. 138. 141. 142. 145. 146. 147. 148. 149. 159.

Mercury Monarch (11/9/2 cases) Dodge Omni (18/2/0 cases) Plymouth Horizon; TC3 (24/7/2 cases) Plymouth Duster; Scamp; Valiant; Signet (28/15/8 cases) Dodge Dart; Demon; Swinger (23/16/5 cases) Plymouth Reliant; Volare (44/17/2 cases) Dodge Aires; Aspen (29/6/2 cases) American Motors Gremlin (5/4/1 cases) American Motors (other or NA model) (1/0/2 cases) American Motors Hornet; Sportabout; Concord (22/10/5 cases) American Motors Rambler; American; Rogue (3/3/3 cases) American Motors Pacer (8/2/1 cases) American Motors Spirit (9/2/1 cases) American Motors Eagle (2/4/0 cases) Other low-priced domestic cars (0/0/1 cases)

inexpensive and specialty cars domestic 211. Chevrolet Camaro; Z28 (40/24/7 cases) 212. Pontiac Trans Am; Firebird; Formula (17/12/5 cases) 213. Chevrolet Monza 2 + 2/Cavalier (27/6/2 cases) 214. Buick Skyhawk (5/1/0 cases) 215. Oldsmobile Starfire/Firenze (4/1/1 cases) 216. Pontiac J-2000; Sunbird (13/5/0 cases) 217. Chevrolet Citation; Pontiac Fiero (41/6/2 cases) 221. Ford Mustang; Mustang II; Mercury Capri (1979 to date) (58/41/15 cases) 222. Mercury Cougar (prior to 1974) (2/4/2 cases) 231. Plymouth Barracuda (1/0/2 cases) 232. Dodge Challenger (prior to 1978) (0/2/0 cases) 241. American Motors Javelin; Amx (2/2/1 cases) 311. Chevrolet Malibu/Celebrity; Laguna; Chevelle (88/34/8 cases) 312. Pontiac 6000; Safari; GTO; LeMans/Bonneville (82 to present); Tempest (28/15/5 cases) 313. Oldsmobile Cutlass/Supreme/Ciera; F-85; 442; Vista Cruiser (125/50/9 cases) 314. Buick Century; Skylark (prior to 1975); Regal; Special; Sport Wagon; Grand Sport (82/29/8 cases) 316. Chevrolet Monte Carlo (76/27/7 cases) 317. Pontiac Grand Prix (39/16/7 cases) 321. Ford Falcon (1970 to date); Futura; Fairlane; LTD II; Torino or Grand Torino (33/21/13 cases) 322. Mercury Caliente; Capri (prior to 1968); Comet (prior to 1970); Cyclone; Montego; Villager; Voyager (7/4/1 cases) 323. Mercury Cougar (1974 to date); X-R7 (16/7/3 cases) 324. Ford Thunderbird (1977 to date); Elite; Torino Elite (34/7/3 cases) 331. Plymouth Belvedere; GTX; Road Runner; Satellite (4/6/4 cases) 332. Dodge Charger (except 1966-1970); Magnum XE; Coronet (10/5/0 cases) 333. Dodge Charger (1966-1970 only) (1/0/0 cases) 334. Chrysler Cardoba (19/8/1 cases) 335. Dodge Diplomat (prior to 82)/400 (2/2/1 cases) 336. Dodge Mirada; Chrysler LeBaron (11/5/0 cases) 341. American Motors Marlin; Matador; SST; Rebel;

Classic (4/1/2 cases) medium-priced domestic 411. Chevrolet (other or NA model); Bel Air; Biscayne; Caprice; Impala (194/97/24 cases) 421. Ford (other or NA model); Country Sedan; Custom; Galaxie; LTD; Squire Ranch Wagon; XL (144/70/25 cases) 431. Plymouth (other or NA model); Fury; VIP (39/22/6 cases) 438. Dodge St. Regis/Diplomat (1982 to present) (2/0/0 cases) 511. Pontiac (other or NA model); Bonneville; Catalina; Executive; Grand Am; Grandville; Star Chief (67/32/21 cases) 512. Oldsmobile (other or NA model); Delmont; Delta; 88; Jetstar (32/25/14 cases) 513. Buick (other or NA model); Estate Wagon; Wildcat; LeSabre (62/37/6 cases) 521. Mercury (other or NA model); Colony Park; Commuter; Marauder; Marquis; Montclair; Monterey; Park Lane (32/18/5 cases) 531. Dodge (other or NA model); Monaco; Polara (21/17/3 cases) 532. Chrysler (other or NA model); Newport; Town and Country; Royal (23/21/1 cases) 541. American Motors Ambassador; Brougham; DPL (2/0/2 cases) 559. Other medium-priced domestic cars; Checker; Desoto; (0/1/0 cases) high-priced domestic 611. Oldsmobile 98; Regency (29/12/2 cases) 612. Buick Electra; Park Avenue; 225 Limited (24/14/4 cases) 613. Cadillac (other or NA model); Sedan de Ville; Coupe de Ville (80/32/9 cases) 621. Lincoln (other or NA model); Town Car (10/5/0 cases) 631. Chrysler Imperial; New Yorker; Brougham (19/6/4 cases) 711. Chevrolet Corvette (7/5/6 cases) 712. Oldsmobile Toronado (8/3/2 cases) 713. Buick Riviera (15/9/2 cases) 714. Cadillac Biarritz; Eldorado (22/8/4 cases) 715. Cadillac Seville (24/15/4 cases) 716. Cadillac Cimmaron (1/1/0 cases) 721. Lincoln Continental Mark III/IV/V (21/16/1 cases) 722. Ford Thunderbird (prior to 1977) (6/6/4 cases) 723. Lincoln Versailles (2/2/0 cases) foreign 861. VW; Rabbit; Dasher/Quantum; Jetta; Scirroco (82/66/23 cases) 862. Toyota (112/57/14 cases) 863. Datsun (Nissan); Sentra (95/48/10 cases) 864. Mercury Capri (1970 to 1978) (2/6/1 cases) 865. Mazda (36/5/2 cases) 866. Fiat (9/8/0 cases) 867. Opel; Buick Opel; Manta, Mant Luxus (9/4/1 cases) 868. Audi; Fox (14/12/1 cases) 869. Volvo (28/15/3 cases) 871. Honda; Civic; Accord (86/29/5 cases) 872. Dodge Colt; Plymouth Cricket (12/7/2 cases) 873. Mercedes (39/32/12 cases) 874. MG (3/8/3 cases) 875. Porsche (6/2/3 cases) 876. Suburu (32/6/0 cases) 877. Triumph (1/1/4 cases)

878. 879. 881. 882. 883. 884. 885. 887. 888. 889. 891. 892. 893. 894. 895. 896.

BMW (22/11/5 cases) Saab (7/1/2 cases) Renault (10/2/1 cases) Peugeot (4/5/2 cases) Jaguar (4/3/2 cases) Alfa Romeo (1/2/2 cases) Austin (1/1/1 cases) Other low-priced imports; Cortina (0/0/1 cases) Other medium-priced imports (3/0/0 cases) Other high-priced imports; Rolls Royce; Lamborghini, Ferrari; DeLorean (4/4/3 cases) Plymouth Arrow (3/0/0 cases) Citroen (0/1/1 cases) Ford Fiesta (7/0/0 cases) Plymouth Sapporo (1/2/0 cases) Dodge Challenger (1978 to date) (2/0/0 cases) Plymouth Champ; Isuzu Impulse, Imark (7/1/0 cases)

vans, utility, and trucks 910. Import Van; VW bus (8/5/0 cases) 911. Chevrolet or GMC van; Sportvan (Rally-windows); Greennbrier; Vandura (no windows) (41/32/8 cases) 912. Ford Van; Club Wagon (windows); Econoline (no windows) (21/22/10 cases) 913. Dodge Van; Sportsman; Voyager (windows) (26/21/3 cases) 920. Import Utility; Toyota; Land Cruiser; VW Thing (3/3/1 cases) 921. Chevrolet or GMC Utility vehicle; Blazer; Jimmy (16/11/5 cases) 922. Ford Utility; Bronco (6/7/2 cases) 923. Dodge Utility; Ramcharger; Trail Duster (2/3/0 cases) 924. Jeep Utility; CJ-5; CJ-7; Cherokee (15/15/4 cases) 925. International Harvestor Utility (Scout) (1/4/1 cases) 931. Chevrolet or GMC Suburban (6/3/1 cases) 934. Jeep Suburban; Wagoneer (11/5/5 cases) 935. International Harvestor Suburban (Travelall) (2/0/0 cases) 940. Import Pickup; Luv; Courier; Toyota; Datsun; VW pickup; Dodge Ram/D50; Plymouth Arrow Pickup; Suburu "Brat"; Isuzu (54/35/10 cases) 941. Chevrolet or GMC Pickup; Silverado (118/155/44 cases) 942. Ford Pickup; Ranger; F100 (117/139/53 cases) 943. Dodge Pickup; Rom Pickup (15/26/10 cases) 944. Jeep Pickup (2/5/1 cases) 945. International Harvestor Pickup (1/4/5 cases) 947. Other pickup not codable above or NA type (1/6/0 cases) 951. Chevrolet or GMC Sedan Pickup (El Camino, Sprint) (14/13/5 cases) 952. Ford Sedan Pickup; Ranchero (7/4/4 cases) 961. GMC Motorhome (0/2/3 cases) 963. Dodge Motor Home (5/1/4 cases) 966. Motorhome other than GMC or Dodge, or NA type; Winnebago (5/9/10 cases) 971. Other Chevrolet or GMC truck -- NA type (2/7/3 cases) 972. Other Ford truck -- NA type (1/5/5 cases) 973. Other Dodge truck -- NA type (2/1/0 cases) 974. Other Jeep -- NA type; Willys (5/15/4 cases) 975. Other International Harvestor truck -- NA type

979. 991. 992. 993. 997. 998. 999. 0.

(1/0/1 cases) Other truck, NA type (2/4/4 cases) Chevrolet compact pickup; S-10; GMC S-1500 (7/6/2 cases) Ford Compact pickup; Ranger (1982-present) (4/5/1 cases) Dodge compact pickup; Rampage (1/0/0 cases) other vehicle (1/3/0 cases) DK make -- automobile (4/2/1 cases) NA make -- automobile (8/11/6 cases) INAP (594/2081/3444 cases)

question: E4 B3905 (A) B3914 (B) B3923 (C) prices MODEL YEAR. All missing values were imputed. The model year was imputed from the purchase price and information on prevailing new and used car taken from the N.A.D.A. price listings of various years. xxxx. year (1928 to 1984) 0. INAP (594/2081/3444 cases) question: E5 Market Value B3906 (A) B3915 (B) B3924 (C) GROSS CURRENT MARKET VALUE OF VEHICLE. This variable was computed primarily from the April 1983 N.A.D.A. "blue book" (eastern edition) average retail value for the given model make and year for cars 1976 or newer. For cars with model years between 1966 and 1975 the May 1983 National Edition older car N.A.D.A. values were used. Extrapolations were made for cars older than 1966. The actual purchase price was used for cars of the 1983 model year, or for those purchased within 6 months of the survey. For some cars with higher than average purchase prices from years prior to 1983 the market value was determined by deflating the purchase price by the average percentage depreciation to 1983 for a car of that type and value. For some cars with little given information, the market value was imputed from a regression. No missing values. xxxxx. dollars (42 to 61,387) 0. INAP (594/2081/3444 cases) B3907 (A) B3916 (B) B3925 (C) NET EQUITY IN VEHICLE. The market value minus the amount outstanding on loans (B3906, B3915, or B3924 minus B4272, B4292, or B4312). No missing values. xxxxx. dollars (-6,171 to 61,387) -6. net equity is zero but own vehicle (2/0/0 cases) 0. INAP (594/2081/3444 cases)

Purchase Information B3908 (A) B3917 (B) B3926 (C) TYPE OF PURCHASE. A calculated variable based on the type of vehicle, year of purchase, and the model year. This variable is the same as B4271, B4291, or B4311 if a loan is outstanding against the car. No missing values. 1. 2. 3. 4. new car when purchased (1358/574/144 cases) used car when purchased (1599/858/300 cases) gift car, -- NA used or new (31/15/6 cases) new truck, van, jeep, or motorhome when purchased (218/166/46 cases) 5. used truck, van, jeep, or motorhome when purchased (300/408/160 cases) 6. gift truck, van, jeep, or motorhome -- NA used or new (3/1/3 cases) 0. INAP (594/2081/3444 cases) B3909 (A) B3918 (B) B3927 (C) MONTH OF PURCHASE. This variable is the same as B4273, B4293, or B4313 if a loan is outstanding against the car. All missing values were imputed. xx. month (1 to 12) -6. household given or inherited vehicle and date unknown (34/16/9 cases) 0. INAP (594/2081/3444 cases) question: E6 B3910 (A) B3919 (B) B3928 (C) YEAR OF PURCHASE. This variable is the same as B4274, B4294, or B4314 if a loan is outstanding against the car. All missing values were imputed. Imputed from the cost of purchase, model year, and information on prevailing new and used car prices taken from the N.A.D.A. "blue books" and Edmonds new car price books of various years. xxxx. year (1942 to 1983) -6. household given or inherited vehicle and date unknown (34/16/9 cases) 0. INAP (594/2081/3444 cases) question: E6 B3911 (A) B3920 (B) B3929 (C) COST OF PURCHASE. This variable is the same as B4286, B4306, or B4326 if a loan is outstanding against the car. All missing values were imputed. For vehicles with loans against them the cost of purchase was imputed from loan-to-value ratios for some used cars. For new cars, the manufacturer's suggested new car price of the model make and year taken from the N.A.D.A. and Edmonds books was used. For used cars with no loans, average

calculated depreciation schedules for cars bought in that year were used to impute the purchase price from the current value. In other cases the prevailing used car average retail prices at the time of purchase was used. xxxxx. dollars (25 to 75,000) -6. gift or inheritance (63/41/19 cases) 0. INAP (594/2081/3444 cases) question: E7 B4278 (A) B4298 (B) B4318 (C) AMOUNT FINANCED FOR THOSE WITH BALANCES STILL OWED. All missing values were imputed. Imputations were made from purchase price information and sample loan-to-value tables. Some imputations were made using other loan terms. Other variables reflecting the terms of the loans (payment size, payment frequency, date due, source of borrowing, and interest rate) are detailed in the Consumer Loan Section. xxxxx. dollars (63 to 33,000) 0. none, INAP (3072/3866/4061 cases) question: E9 B4272 (A) B4292 (B) B4312 (C) AMOUNT OUTSTANDING ON THE LOAN. This variable gives the amount still owed (if any) on the loan used to purchase the vehicle. The amount outstanding was given directly in some cases, but in most instances it was computed from information on the terms of the loans. The exact methods used and variables reflecting the terms of the loans (payment size, payment frequency, date due, source of borrowing, and interest rate) are detailed in the Consumer Loan Section. No missing values. xxxxx. dollars (16 to 29,980) 0. none, INAP (3072/3866/4061 cases) question: E10a HOME MORTGAGE DATA (A) First mortgage loan (B) Second mortgage loan If the household owns their residence (or is buying) data are given for up to two mortgages (or land contracts) against the property. The "first" mortgage is self-defined by the respondent and may not be a legal first mortgage. Land contracts will be listed as first mortgages. Second mortgages are also self-defined. Other loans used to purchase the property are listed in the Consumer Loan Section under categories (M) and (N). Housing Mortgage Totals

B4001

HOUSE MORTGAGE TOTAL. The sum of first and second mortgage loans on household's primary residence (B4002 + B4024). No missing values. xxxxxxx. dollars (95 to 1,786,740) 0. none (2506 cases) Amount Owed on Individual Mortgage

B4002 (A) B4024 (B)

AMOUNT OUTSTANDING ON MORTGAGE. The variable is directly answered if the mortgage does not have regular payments. Otherwise it is calculated from the date the mortgage was taken out, the payment frequency, the number of original payments, the payment size (PAYMENT), balloon size (BALLOON), and the interest rate (INTEREST). For a monthly payment mortgage, for example, the formula would be: VALUE=PAYMENT*((1-1/(1+INTEREST/12)**PAYLEFT)/(INTEREST/12)) +BALLOON/((1+INTEREST)**PAYLEFT) where PAYLEFT is the number of payments left. No missing values. xxxxxxx. dollars (49 to l,560,000) 0. INAP, do not have a mortgage (2506/3929 cases)

question: C11a Date of Mortgage B4003 (A) B4025 (B) MONTH MORTGAGE TAKEN OUT OR REFINANCED. All missing values were imputed. xx. month (1 to 12) 0. INAP (2506/3929 cases) question: C9 B4004 (A) B4026 (B) YEAR MORTGAGE TAKEN OUT OR REFINANCED. All missing values were imputed. xxxx. year (1948 to 1983) 0. INAP (2506/3929 cases) question: C9 B4005 (A) B4027 (B) MONTH MORTGAGE DUE. The variable is directly answered if the mortgage does not have regular payments. Otherwise it is calculated from the date the mortgage was taken out, the payment frequency, and the number of original payments. If the calculated due date is before the survey date, the month due is coded as -9.

xx. month (1 to 12) -9. NA, due prior to current date for regular payment mortgages (12/5 cases) 0. INAP (2506/3929 cases) question: C11b B4006 (A) B4028 (B) YEAR MORTGAGE DUE. The variable is directly answered if the mortgage does not have regular payments. Otherwise it is calculated from the date the mortgage was taken out, the payment frequency, and the number of original payments. If the calculated due date is before the survey date, the year due is coded as -9. xxxx. year (1983 to 2016) -9. NA, due prior to current date for regular payment mortgages (12/5 cases) 0. INAP (2506/3929 cases) question: C11b B4007 (A) B4029 (B) ORIGINAL MATURITY IN MONTHS. Calculated from the date mortgage was taken out and the date the mortgage is due. When added to the date the loan was taken out this should equal the due date, except for loans past due. No missing values for regular payment mortgages. xxx. months (12 to 480) -9. NA (6/2 cases) 0. INAP (2506/3929 cases) B4008 (A) B4030 (B) MORTGAGE ASSUMED FROM PREVIOUS OWNER/LAND CONTRACT. All missing values were imputed. 1. 2. 5. 0. mortgage assumed (235/10 cases) land contract issued by former owner (25/0 cases) neither assumed or land contract (1337/164 cases) INAP (2506/3929 cases)

question: C8a/C8e Amount Borrowed on Mortgage B4009 (A) B4031 (B) AMOUNT BORROWED. All missing values were imputed. Imputations were made from purchase price information using regionally adjusted loan-to-value ratios. For second mortgages, imputations were derived from a regression of the ratio of second mortgages-to- home value with a random term added. xxxxxxx. dollars (833 to 1,560,000)

0. INAP (2506/3929 cases) question: C10 Payments/interest B4010 (A) B4032 (B) SIZE OF EACH PAYMENT. The amount of each payment excluding taxes and insurance. Answered only if the mortgage has regular payments (B4011 or B4033 equals 5 or 6). All missing values were imputed. Payments were adjusted to exclude taxes and insurance components. For mortgages with all other terms known, the payment could be derived if it was missing. xxxxxx. dollars (22 to 176,280) -6. no regular payment (11/8 cases) 0. INAP (2506/3929 cases) question: C11 B4011 (A) B4033 (B) FREQUENCY OF PAYMENTS. All missing values were imputed. 5. 6. 8. 0. monthly (1563/159 cases) yearly (23/7 cases) no regular payments (11/8 cases) INAP (2506/3929 cases)

question: C11 B4012 (A) B4034 (B) ORIGINAL NUMBER OF PAYMENTS. All missing values were imputed. xxx. number (4 to 480) 0. no regular payments, INAP (2517/3937 cases) question: C12 B4013 (A) B4035 (B) NUMBER OF PAYMENTS LEFT. Calculated from original number of payments, the date the mortgage was taken out, and the current date. If the mortgage was determined to be overdue, the number of payments left was imputed. xxx. number (1 to 404) 0. no regular payments, INAP (2517/3937 cases) B4014 (A) B4036 (B) AMOUNT OF BALLOON PAYMENT. All missing values were imputed. xxxxxxx. dollars (100 to 1,560,000) 0. none, no regular payment, INAP (4058/4082 cases)

question: C14,C14a B4015 (A) B4037 (B) ANNUAL RATE OF INTEREST. Answered directly for all mortgages with no regular payments. If the mortgage has regular payments and all payment terms were given, the interest rate was solved for from the implied repayment pattern. In cases where this was inconsistent with the interest rate given by respondent, the solved for rate was generally used. If the interest rate was missing and other payment terms as well, the average conventional mortgage rate, as reported in the Federal Reserve Bulletin for the date of the mortgage (month and year), was assigned. Yearly averages for these terms were: 1971=7.6%, 1972=7.45%, 1973=7.78%, 1974=8.71%, 1975=8.75%, 1976=8.76%, 1977=8.80%, 1978=9.30% 1979=10.48%, 1980=12.12%, 1981=14.16%, 1982=14.47%, 1983=12.20%. xxx. percentage rate times 10 (10 to 260) -6. zero (4/0 cases) 0. INAP (2506/3929 cases) question: C15 Source of Mortgage B4016 (A) B4038 (B) SOURCE OF MORTGAGE. All missing values were imputed. Imputations were made using the financial services questions (K31f, K36a-c) and conditional mean tables with randomizations. 1. commercial bank (433/61 cases) 2. savings and loan association or savings bank (603/42 cases) 3. credit union (12/6 cases) 4. finance or loan company (33/26 cases) 5. store or dealer (2/0 cases) 6. brokerage company or money market mutual fund (2/0 cases) 7. insurance company (26/0 cases) 8. mortgage company (243/8 cases) 9. contractor or developer (14/1 cases) 10. prior owner (102/17 cases) 15. employer (1/3 cases) 16. friend or relative (not codable above) (14/5 cases) 17. individual lender (not codable above) (6/2 cases) 21. real estate investment company (8/0 cases) 23. local, county, state government (12/0 cases) 24. federal government: FMHA, SBA, VA, FHA, HUD, NDSL (69/1 cases) 25. other federal government, IRS (9/0 cases) 30. church (1/0 cases) 93. farm related lenders (not codable above) (3/1 cases) 97. other source (4/1 cases) 0. INAP (2506/3929 cases)

question: C16 Mortgage Guarantee B4017 (A) MORTGAGE GUARANTEED BY FEDERAL AGENCY. 1. FHA (224 cases) 2. VA (156 cases) 3. federal land bank (8 cases) 4. FNMA (12 cases) 7. other agency (35 cases) -8. DK (14 cases) -9. NA (13 cases) 0. INAP, mortgage not guaranteed (3641 cases) question: C8b B4018 (A,1st) REASON FOR CHOOSING FEDERAL GUARANTEE. B4019 (A,2nd) Answered only if respondent has a mortgage guaranteed by a federal agency (B4017 = 1 - 7). The first variable is the first reason for choosing, and the second is a second reason (if one is given). credit terms/cost of loan 1. interest rate (151/22 cases) 4. finance charges (13/5 cases) 5. amount of the down payment (47/13 cases) 6. size of monthly payment (7/8 cases) 8. longer contract (3/3 cases) 9. easier to get credit, requires less collateral/information, less stringent rules, no red tape, approval faster (4/2 cases) 10. availability of credit insurance, offer/give credit insurance, lower cost of credit insurance (1/0 cases) 12. handling of early payments -- low/no penalty for pre-payments; rebate/dismissal of interest when pay off early (1/0 cases) 20. amount of money that they will let me borrow; what my credit limit was (1/0 cases) 25. credit terms/arrangements -- NA what; "affordable terms" (25/3 cases) 26. give the best (better) deal -- NA how (6/3 cases) 29. other credit terms or cost of loan (3/1 cases) characteristics of credit institution 31. good reputation -- reputable; well known; honest; stable reliable; experienced; professional (2/0 cases) 41. availability of credit; they would lend me the money; I could qualify for the loan; only place I could get the loan (32/7 cases) 49. other characteristics of credit institution (0/1 case) miscellaneous 80. no choice; only source; "only place in town" (8/0 cases) 81. familiarity; household has previous/good experience dealing with institution; has other accounts there, been treated well/ fairly in past; am credit union

member (3/1 cases) 83. recommended/ arranged by dealer/store/contractor (12/0 cases) 84. recommended by others (9/1 cases) 88. convenient/easy -- nec (9/0 cases) 89. other miscellaneous (10/2 cases) 90. reason related to item purchased -- assumed mortgage (45/4 cases) 91. like/trust them -- NA why (1/1 cases) -8. DK (23/0 cases) -9. NA (19/0 cases) 0. INAP, no second mention (3668/4026 cases) question: C8c Variable Rate First Mortgage B4020 (A) DOES THE RATE DEPEND ON ANOTHER RATE OR SET TO CHANGE. Answered only if respondent has a variable rate mortgage. Thus, a code of zero means the first mortgage does not have a variable interest rate. No imputations. 1. mortgage rate already set to change to a known amount (23 cases) 5. mortgage rate changes will depend on another interest rate (76 cases) -8. DK (26 cases) -9. NA (3 cases) 0. INAP, no variable rate mortgage (3975 cases) question: C17,C17a B4021 (A) ON WHAT RATE DOES THE CHANGE DEPEND? Answered only if mortgage rate changes will depend on another interest rate (B4020 = 5). No imputations. 1. consumer price index, CPI (1 case) 3. prime rate (27 cases) 4. treasury bill rate, "t bill rate" (6 cases) 5. "current rate" or "going rate" -- NA rate type (8 cases) 7. other rate (19 cases) -8. DK (10 cases) -9. NA (5 cases) 0. INAP, no variable rate mortgage depending on another rate (4027 cases) question: C17b B4022 (A) HOW OFTEN CAN THE RATE CHANGE PER 30 YEARS? Answered only if the household has a variable rate mortgage (B4020 is not zero). Respondent's answer is converted to a 30 year period for comparability. No imputations. xxx. (6 to 840) -7. other, non-numeric, answer (8 cases)

-8. DK (29 cases) -9. NA (15 cases) 0. INAP, no variable rate mortgage (3975 cases) question: C17c B4023 (A) DOES MONTHLY PAYMENT CHANGE WHEN INTEREST RATE CHANGES? Answered only if the household has a variable rate mortgage (B4020 is not zero). No imputations. 1. yes (99 cases) 5. no (23 cases) -8. DK (4 cases) -9. NA (2 cases) 0. INAP, no variable rate mortgage (3975 cases) question: C17d

CREDIT CARDS AND REVOLVING DEBT (A) Gasoline company credit cards (B) Bank credit cards (Visa, Mastercard, Choice) (C) General purpose credit cards (American Express, Diners Club, Carte Blanche) (D) National retailer credit cards (Sears, Penneys, Wards) (E) Other store or retailer credit cards (F) Other credit cards (rental car, airline etc.) Credit Card and Revolving Debt Totals B4101 TOTAL REVOLVING CHARGE DEBT. The sum of total credit card debt plus debt owed against lines of credit (B4102 + B4125). No missing values. xxxxxxx. dollars (5 to 6,000,000) 0. none (2482 cases) B4102 TOTAL CREDIT CARD DEBT. The sum of the amount owed on gasoline, bank, general purpose, national retail, other retail, and other credit card debt after payment of last bill (B4107 + B4110 + B4113 + B4116 + B4119 + B4122). No missing values. xxxxx. dollars (5 to 10,200) 0. none (2686 cases) B4103 DOES HOUSEHOLD HAVE ANY CREDIT CARDS? All missing values were imputed. 1. yes (2773 cases) 5. no (1330 cases)

question: B1 B4104 DOES HOUSEHOLD HAVE LINES OF CREDIT? All missing values were imputed. 1. yes (1697 cases) 5. no (2406 cases) question: B6 Individual Credit Cards By Type B4105 B4108 B4111 B4114 B4117 B4120 (A) (B) (C) (D) (E) (F) NUMBER OF CREDIT CARDS OF EACH TYPE. Number of different kinds of credit cards (different companies) owned for each of the six types of cards. Excludes cards owned by business or multiple cards per account. All missing values were imputed. 1. 2. 3. 4. 5. 6. 7. 0. one (516/1075/565/965/548/229 cases) two (330/663/81/645/382/81 cases) three (229/110/18/321/258/39 cases) four (128/40/5/27/162/9 cases) five (64/13/0/14/100/6 cases) six (34/7/1/12/102/1 cases) seven or more (28/1/0/17/135/2 cases) none, INAP no credit cards (2774/2194/3433/2102/2416/3736 cases)

question: B2a/B2b/B2c/B2d/B2e/B2f B4106 B4109 B4112 B4115 B4118 B4121 (A) (B) (C) (D) (E) (F) FREQUENCY OF CARD USAGE FOR EACH CARD TYPE. General usage of cards of each type. Answer only if have card type (B4105 etc. > 0). All missing values were imputed. 1. 2. 3. 5. 0. use often (608/668/319/249/356/59 cases) use sometimes (258/697/209/804/685/85 cases) use hardly ever (368/483/121/814/539/148 cases) use never (but have card) (95/61/21/134/107/75 cases) INAP, don't have type of credit card (2774/2194/3433/2102/2416/3736 cases)

question: B3a/B3b/B3c/B3d/B3e/B3f B4107 B4110 B4113 B4116 B4119 B4122 (A) (B) (C) (D) (E) (F) AMOUNT OWED ON CREDIT CARDS OF THIS TYPE. Balance owed after last payment was made. Thus the total should exclude "convenience credit" whereby the bill is paid in full within thirty days, avoiding interest. All missing values were imputed by log-regression with random term added (conditional mean tables were used for the high-income sample). xxxx. dollars (3 to 8000) -6. none (1209/1070/622/1173/1155/345 cases) 0. INAP, don't have type of credit card (2774/2194/3433/2102/2416/3736 cases)

question: B4a/B4b/B4c/B4d/B4e/B4f Payment Patterns for Store and Bank Credit Cards B4123 PAYMENT PATTERNS. Asked of all respondents owning bank, national retail, or other store credit cards (B4108 or B4114 or B4117 > 0). Respondent gave their general payment pattern for credit card bills. Missing values were not imputed. 1. always pay full amount of credit card bills (1453 cases) 3. sometimes pay full amount or always pay some bills in full (614 cases) 5. hardly ever pay full amount of bills (592 cases) -8. DK (4 cases) -9. NA (39 cases) 0. do not own bank, national retail, or other store credit card (1401 cases) question: B5a. B4124 INTEREST PAID IF ACCOUNT IS NOT PAID IN FULL. Respondent's best guess as to average interest rate he/she pays (annualized) if the full bill is not paid on the bank or store card he/she uses the most often. Answered only if the household has bank or store cards (B4108 or B4114 or B4117 > 0). Missing values were not imputed. xxxx. interest rate (percentage times ten) (5 to 995) -6. none (6 cases) -8. DK (431 cases) -9. NA (159 cases) 0. do not own bank, national retail, or other store credit card (1401 cases) question: B5b. Lines of Credit B4125 AMOUNT OWED ON LINES OF CREDIT. The amount currently owed on open-ended lines of credit such as checking account overdrafts or credit union borrowing. All missing values were imputed using a log-regression with a random term added (conditional mean tables were used with the high-income sample). In some instances reported loans were dropped when it was obvious that they had been double-counted and were reported elsewhere. xxxxxxx. dollars (33 to 6,000,000) 0. none or do not have lines of credit (3608 cases) question: B6a B4126 (1st) TYPE OF FINANCIAL INSTITUTION WHERE LINES OF CREDIT B4127 (2nd) LOCATED. B4128 (3rd) Respondents were asked to give the institutions where he/she

B4129 (4th)

had lines of credit (whether he/she was drawing on them or not). These four variables contain the codes of up to four mentions. All missing values were imputed. Imputations were done using the financial services variables (K31g, K36a-c) and conditional mean tables with randomization. 1. commercial bank (989/0/0/0 cases) 2. savings and loan association or savings bank (128/85/0/0 cases) 3. credit union (423/150/19/0 cases) 4. finance or loan company (74/32/5/3 cases) 5. store or dealer (0/1/0/0 cases) 6. brokerage or money market mutual fund (58/90/17/2 cases) 7. insurance company (3/12/5/3 cases) 15. employer (6/1/0/0 cases) 16. friend or relative (not codable above) (0/1/0/0 cases) 24. federal government agency; FMHA; SBA; VA; FHA; HUD; NDSL (1/1/0/0 cases) 28. bank or general purpose credit card company; American express; VISA; Carte Blanche; Mastercard; Diners Club (11/8/3/0 cases) 93. farm related lenders, not codable above and NA if membership group or Federal agency (1/0/1/0 cases) 94. investment or management companies or consultants -- NEC (0/1/0/0 cases) 97. other source (3/1/1/0 cases) 0. INAP, for first variable it means household does not have any lines of credit (2406/3720/4053/4095 cases)

question: B6b B4130 LINES OF CREDIT SECURED BY EQUITY IN HOME? Is home used as collateral for any lines of credit? missing values wereimputed. 1. yes (60 cases) 5. no (1637 cases) 0. INAP (2406 cases) question: B6c. CONSUMER LOANS (A) (B) (C) (D) (E) (F) (G) (H) (I) (J) (K) (L) (M) (N) First addition and repair loan Second addition and repair loan Third addition and repair loan First vehicle loan Second vehicle loan Third vehicle loan First other loan with regular payments Second other loan with regular payments Third other loan with regular payments First other loan with no regular payments Second other loan with no regular payments Third other loan with no regular payments Other housing loan Second other housing loan or other loan for investments All

Respondents were asked about four different types of consumer loans: (1) addition and repairs (home improvement), (2) vehicle (car), (3) other loans with regular payments, and (4) other loans without regular payments. For each category, detailed data were collected on the terms of up to three loans. There is some spillover from the Vehicle Section, with some loans for fourth and fifth vehicles listed in the "other loan" categories. In addition, non-mortgage (or third) loans used for the purchase of the household's house and loans reported in the "other loans for investment" in Section K are listed here. Loans reported in this section should exclude mortgage loans, loans reported as draws on lines of credit, credit card loans, and loans from or to businesses owned by the household. Value of Aggregate Consumer Loans B4201 TOTAL CLOSED-END CONSUMER DEBT OUTSTANDING. This variable is the total amount outstanding for all debts owed by the household and listed in this section except for loans against the cash value of life insurance policies (B4212 + B4232 + B4252 + B4272 + B4292 + B4312 + B4332 + B4352 + B4372 + B4392 + B4412 + B4432 + B4452 + B4472 - B4204). No missing values. xxxxxxx. dollars (14 to 5,027,000) 0. none (2194 cases) B4202 TOTAL REGULAR PAYMENT (INSTALLMENT) DEBT OUTSTANDING. This variable is the total amount outstanding for all debts with regular payments listed in this section. No missing values. xxxxxx. dollars (14 to 403,325) 0. none (2468 cases) B4203 TOTAL NON-REGULAR PAYMENT (NON-INSTALLMENT) DEBT OUTSTANDING. This variable is the total amount outstanding for all debts without regular payments (or where the payment pattern was not ascertained) listed in this section except for loans against the cash value of life insurance policies (see B4204). No missing values. xxxxxxx. dollars (22 to 5,027,000) 0. none (3571 cases) B4204 TOTAL REPORTED LOANS AGAINST THE CASH VALUE OF LIFE INSURANCE. This variable is the sum of loans with irregular payments reported in (G), (H), (I), (J), (K), (L) which were loans against the cash value of life insurance policies. It was assumed that all irregular loans from insurance companies by households with whole life policies fell in this category. These loans are excluded from total consumer debt, total debt, and net worth, as the corresponding cash value asset was not reported as a life insurance asset (respondents reported the net cash value of whole

life policies after loans were subtracted). xxxxxx. dollars (44 to 300,000) 0. none (3902 cases) B4205

No missing values.

TOTAL LOANS FOR AUTOMOBILE PURCHASE. This variable is the total amount outstanding for all loans used to purchase automobiles or other vehicles (B4211 etc. coded 6 thru 10 or 24) listed in this section. No missing values. xxxxx. dollars (29 to 54,085) 0. none (2963 cases)

B4206

TOTAL NON-AUTO CONSUMER LOANS. This variable is the total amount outstanding for all loans listed in this section except for loans against the cash value of life insurance and loans used to purchase automobiles or other vehicles (B4201 - B4205). No missing values. xxxxxxx. dollars (14 to 5,027,000) 0. none (2860 cases) Purpose of Credit/Amount Outstanding

B4211 B4231 B4251 B4271 B4291 B4311 B4331 B4351 B4371 B4391 B4411 B4431 B4451 B4471

(A) (B) (C) (D) (E) (F) (G) (H) (I) (J) (K) (L) (M) (N)

PURPOSE OF CREDIT. All missing values were imputed with conditional mean tables with randomization. 1. purchase home (current residence) (0/0/0/0/0/0/2/1/2/13/2/0/85/2 cases) 2. purchase home (current residence) if mobile home (0/0/0/0/0/0/0/0/1/3/0/0/15/0 cases) 3. home improvement or addition (including assessment for sewer) (146/8/1/0/0/0/8/2/0/9/1/0/0/0 cases) 4. home repairs, upkeep, maintenance (58/4/1/0/0/0/6/2/1/2/0/0/0/0 cases) 6. new automobile (0/0/0/400/51/4/2/0/0/2/1/1/0/0 cases) 7. used automobile (0/0/0/452/121/20/5/2/0/11/4/0/0/0 cases) 8. new truck or utility vehicle (0/0/0/67/21/1/0/0/0/ 0/0/0/0/0 cases) 9. used truck or utility vehicle (0/0/0/112/44/17/2/1/0/ 2/0/0/0/0 cases) 11. refrigerator (0/0/0/0/0/0/21/3/0/1/0/0/0/0 cases) 12. stove-range, microwave oven (0/0/0/0/0/0/8/4/0/1/0/1/0/0 cases) 14. freezer (0/0/0/0/0/0/8/4/0/0/0/0/0/0 cases) 15. air conditioner (0/0/0/0/0/0/5/0/0/1/0/0/0/0 cases) 16. washing machine, washer dryer combination (0/0/0/0/0/0/26/4/0/0/0/0/0/0cases) 17. dryer (0/0/0/0/0/0/5/0/0/2/0/0/0/0 cases) 18. furniture, lamps, mattress and spring combos (0/0/0/0/0/0/118/10/4/8/1/0/0/0 cases) 19. rug, carpet (0/0/0/0/0/0/3/0/0/0/0/0/0/0 cases) 20. vacuum cleaner (0/0/0/0/0/0/11/0/1/0/0/0/0/0 cases) 21. sewing machine (0/0/0/0/0/0/2/0/0/0/0/0/0/0 cases)

22. typewriter (manual or electric) (0/0/0/0/0/0/1/0/0/0/0/0/0/0 cases) 23. home computer, calculator, computer terminal (0/0/0/0/0/0/3/1/0/1/0/0/0/0 cases) 25. combination of appliances (including TV); appliance NA type (0/0/0/0/0/0/12/2/0/1/0/0/0/0 cases) 26. furniture and appliance combinations (0/0/0/0/0/0/7/0/0/0/0/0/0/0 cases) 27. furniture and carpet combinations (0/0/0/0/0/0/1/0/0/0/0/0/0/0 cases) 28. curtains, drapes, china, other small household goods/furnishings (0/0/0/0/0/0/4/1/0/1/0/0/0/0 cases) 29. other appliances or durable goods (0/0/0/0/0/0/4/1/0/0/0/0/0/0 cases) 31. stereo, phonograph (may include radio), sound equipment, amp (0/0/0/0/0/0/14/4/0/3/0/0/0/0 cases) 34. piano, organ (0/0/0/0/0/0/15/0/0/2/0/0/0/0 cases) 35. musical instruments (except pianos or organs) (0/0/0/0/0/0/5/0/0/1/1/0/0/0 cases) 36. TV -- NA color or black and white (0/0/0/0/0/0/43/3/1/0/0/0/0/0 cases) 37. color TV (0/0/0/0/0/0/1/1/0/0/0/0/0/0 cases) 39. "home entertainment center", (incl. combination TV, radio, phonograph, etc.); beta max, video cassette recorder/player (0/0/0/0/0/0/5/0/0/0/0/0/0/0 cases) 41. camera; camera equipment (incl. lighting apparatus, enlarger) (0/0/0/0/0/0/0/1/0/0/0/0/0/0 cases) 49. other small/indoor hobby or entertainment items (e.g. pool tables) (0/0/0/0/0/0/1/0/0/0/0/0/0/0 cases) 51. power tools (hand held or stationary) -- electric drill radial arm or chain saw, belt sander, router (0/0/0/0/0/0/3/1/0/0/0/0/0/0 cases) 52. yard equipment, lawn mower, snow blower, roto-tiller (0/0/0/0/0/0/1/2/0/1/0/0/0/0 cases) 53. tractor, self propelled construction/farming devices (non-busi.)(0/0/0/0/0/0/4/0/0/1/0/0/0/0 cases) 59. other tools (0/0/0/0/0/0/0/2/0/0/0/0/0/0 cases) 61. boat; boating equipment (incl. trailer) (0/0/0/0/0/0/30/6/1/2/0/0/0/0 cases) 62. bicycle, moped (0/0/0/0/0/0/0/2/0/0/0/0/0/0 cases) 63. motorcycle (0/0/0/0/0/0/7/2/0/4/0/0/0/0 cases) 64. snowmobile, off-road vehicles (0/0/0/0/0/0/1/0/0/0/0/0/0/0 cases) 65. camper-trailers (excluding self-propelled campers) (0/0/0/0/0/0/11/1/0/4/0/0/0/0 cases) 66. mobile homes (not current residence); self-propelled campers (0/0/0/0/0/0/3/1/0/0/0/0/0/0 cases) 67. cottage, vacation property (0/0/0/0/0/0/2/0/0/3/0/0/0/0 cases) 69. other outdoor recreation items (0/0/0/0/0/0/3/3/0/1/1/0/0/0 cases) 71. stamp/coin collection; antique-classic car (incl. other similar "asset collections) (0/0/0/0/0/0/1/0/0/0/0/0/0/0 cases) 72. investment real estate (incl. cemetery plots) (0/0/0/0/0/0/11/4/4/19/3/0/0/0 cases) 79. other investments (0/0/0/0/0/0/17/2/1/132/22/6/0/34 cases) 81. travel/vacation expenses

(0/0/0/0/0/0/13/3/0/8/0/0/0/0 cases) 82. medical/dental expenses (0/0/0/0/0/0/96/26/4/49/12/3/0/0 cases) 83. education/school expenses (0/0/0/0/0/0/59/16/3/166/47/17/0/0 cases) 84. tax and insurance expenses (except for vehicles) (0/0/0/0/0/0/7/2/1/40/9/1/0/0 cases) 85. weddings, funerals, combinations (0/0/0/0/0/0/5/2/0/1/1/0/0/0 cases) 86. encyclopedias, health clubs, spas (0/0/0/0/0/0/7/5/0/0/0/0/0/0 cases) 90. "personal loans" - NA what for (0/0/0/0/0/0/4/2/2/13/0/0/0/0 cases) 91. living/general expenses; bill consolidation; moving expenses (0/0/0/0/0/0/47/8/2/74/11/2/0/0 cases) 92. personal items (incl. clothing or jewelry) (0/0/0/0/0/0/12/1/0/0/1/0/0/0 cases) 93. vehicle repair/upkeep (incl. insurance) (0/0/0/0/0/0/10/5/2/8/3/0/0/0 cases) 94. gifts; goods or gifts of money; "christmas" (0/0/0/0/0/0/4/0/0/1/0/0/0/0 cases) 97. other purpose (0/0/0/0/0/0/5/1/0/12/1/1/0/0 cases) 0. INAP, no loan (3899/4091/4101/3072/3866/4061/3392/3959/ 4073/3500/3982/4069/4003/4067 cases) question: D2/E3/F3/F11/ B4212 B4232 B4252 B4272 B4292 B4312 B4332 B4352 B4372 B4392 B4412 B4432 B4452 B4472 (A) (B) (C) (D) (E) (F) (G) (H) (I) (J) (K) (L) (M) (N) AMOUNT OUTSTANDING ON LOAN. The variable is directly answered if the loan does not have regular payments. Otherwise it is calculated from the date the loan was taken out, the payment frequency, the number of original payments, the payment size (PAYMENT), and the interest rate (INTEREST). For a monthly payment loan, for example, the formula would be: VALUE=PAYMENT*((1-1/(1+INTEREST/12)**PAYLEFT)/(INTEREST/12)) where PAYLEFT is the number of payments left. No missing values. xxxxxxx. dollars (14 to 5,027,000) 0. INAP (3899/4091/4101/3072/3866/4061/3392/ 3959/4073/3500/3982/4069/4003/4067 cases)

question: D6a/E10a/ /F11/C11a Date of Loan B4213 B4233 B4253 B4273 B4293 B4313 B4333 B4353 B4373 B4393 (A) (B) (C) (D) (E) (F) (G) (H) (I) (J) MONTH LOAN TAKEN OUT OR REFINANCED. All missing values were imputed except for (N) investment loans. xx. month (1 to 12) -9. NA (B4473 only, 34 cases) 0. INAP (3899/4091/4101/3072/3866/4061/3392/3959/4073/ 3500/3982/4069/4003/4067 cases) question: D4/E6/F4/F12/C9

B4413 B4433 B4453 B4473 B4214 B4234 B4254 B4274 B4294 B4314 B4334 B4354 B4374 B4394 B4414 B4434 B4454 B4474 B4215 B4235 B4255 B4275 B4295 B4315 B4335 B4355 B4375 B4395 B4415 B4435 B4455 B4475

(K) (L) (M) (N) (A) (B) (C) (D) (E) (F) (G) (H) (I) (J) (K) (L) (M) (N) (A) (B) (C) (D) (E) (F) (G) (H) (I) (J) (K) (L) (M) (N) YEAR LOAN TAKEN OUT OR REFINANCED. All missing values were imputed except for (N) investment loans. xxxx. year (1950 to 1983) -9. NA (B4474 only, 34 cases) 0. INAP (3899/4091/4101/3072/3866/4061/3392/3959/4073/ 3500/3982/4069/4003/4067 cases) question: D4/E6/F4/F12/C9

MONTH LOAN DUE. The variable is directly answered if the loan does not have regular payments. Otherwise it is calculated from the date the loan was taken out, the payment frequency, and the number of original payments. If the calculated due date is before the survey date, the month due is coded as -9. xx. month (1 to 12) -8. DK (for non-regular payment loans only) (0/0/0/0/0/0/0/0/0/91/14/5/0/0 cases) -9. NA, due prior to current date for regular payment loans (25/1/1/72/32/6/92/22/6/246/46/11/13/36 cases) 0. INAP (3899/4091/4101/3072/3866/4061/3392/3959/4073/ 3500/3982/4069/4003/4067 cases)

question: D6c/E10b/ /F15/C11b B4216 B4236 B4256 B4276 B4296 B4316 B4336 B4356 B4376 B4396 B4416 B4436 B4456 B4476 (A) (B) (C) (D) (E) (F) (G) (H) (I) (J) (K) (L) (M) (N) YEAR LOAN DUE. The variable is directly answered if the loan does not have regular payments. Otherwise it is calculated from the date the loan was taken out, the payment frequency, and the number of original payments. If the calculated due date is before the survey date, the year due is coded as -9. xxxx. year (1983 to 2012) -8. DK (for non-regular payment loans only) (0/0/0/0/0/0/0/0/0/91/14/5/0/0 cases) -9. NA, due prior to current date for regular payment loans (25/1/1/72/32/6/92/22/6/246/46/11/13/36 cases) 0. INAP (3899/4091/4101/3072/3866/4061/3392/3959/4073/ 3500/3982/4069/4003/4067 cases)

question: D6c/E10b/ /F15/C11b

B4217 B4237 B4257 B4277 B4297 B4317 B4337 B4357 B4377 B4397 B4417 B4437 B4457 B4477

(A) (B) (C) (D) (E) (F) (G) (H) (I) (J) (K) (L) (M) (N)

ORIGINAL MATURITY IN MONTHS. Calculated from the date the loan was taken out and the date it is due. When added to the date the loan was taken out this should equal the due date, except for loans past due. No missing values for regular payment loans. xxx. months (1 to 480) -9. NA, due prior to current date for regular payment loans (18/0/0/15/3/2/12/2/2/337/60/16/10/36 cases) 0. INAP (3899/4091/4101/3072/3866/4061/3392/3959/4073/ 3500/3982/4069/4003/4067 cases)

Amount Borrowed B4218 B4238 B4258 B4278 B4298 B4318 B4338 B4358 B4378 B4398 B4418 B4438 B4458 B4478 B4226 B4246 B4266 B4286 B4306 B4326 B4346 B4366 B4406 B4426 (A) (B) (C) (D) (E) (F) (G) (H) (I) (J) (K) (L) (M) (N) (A) (B) (C) (D) (E) (F) (G) (H) (J) (K) ORIGINAL AMOUNT BORROWED. All missing values were imputed. Imputations were made using sample-generated loan-to-value ratios adjusted for the date of the loan and the size of the purchase. xxxxxxxx. dollars (32 to 11,000,000) -9. NA (B4478 only, 34 cases) 0. INAP (3899/4091/4101/3072/3866/4061/3392/3959/ 4073/3500/3982/4069/4003/4067 cases) question: D5/E9/F5/F13/C10/K28

TOTAL COST OF VEHICLE/PROJECT Answered only for home improvement or vehicle loans. For (G) (H),(J),(K) it is given only if the loan is for a vehicle. xxxxxx. dollars (280 to 250000) 0. INAP or not vehicle/home improvement (3899/4091/ 4101/3072/3866/4061/4094/4100/4088/4098 cases) question: D3/E7

Payments/interest B4219 B4239 B4259 B4279 B4299 B4319 B4339 B4359 B4379 B4399 (A) (B) (C) (D) (E) (F) (G) (H) (I) (J) SIZE OF EACH PAYMENT. Almost all missing values were imputed. If all other terms were known, missing payment size terms could be derived assuming an interest rate prevailing at the date of the loan. xxxxxx. dollars (5 to 28,016) -6. no regular payments, payment pattern NA (only for B4479) (34/4/0/30/8/4/12/3/2/603/121/34/14/36 cases) 0. INAP (3899/4091/4101/3072/3866/4061/3392/3959/4073/

B4419 B4439 B4459 B4479 B4220 B4240 B4260 B4280 B4300 B4320 B4340 B4360 B4380 B4400 B4420 B4440 B4460 B4480

(K) (L) (M) (N) (A) (B) (C) (D) (E) (F) (G) (H) (I) (J) (K) (L) (M) (N)

3500/3982/4069/4003/4067 cases) question: D6/E10/F6/ /C11

FREQUENCY OF PAYMENTS. All missing values were imputed except loans taken from question K28 (other loans for investments) in B4480. 3. 4. 5. 6. 7. 8. weekly (5/0/1/17/2/0/13/0/1/0/0/0/0/0 cases) bi-weekly (0/0/0/9/1/0/7/2/0/0/0/0/0/0 cases) monthly (165/8/1/965/224/38/666/134/26/0/0/0/79/0 cases) yearly (0/0/0/10/2/0/13/4/1/0/0/0/7/0 cases) every three months (0/0/0/0/0/0/0/1/0/0/0/0/0/0 cases) no regular payments (34/4/0/30/8/4/12/3/2/603/121/34/ 13/2 cases) -9. payment pattern NA (B4480 only, 34 cases) 0. INAP (3899/4091/4101/3072/3866/4061/3392/3959/4073/ 3500/3982/4069/4003/4067 cases)

question: D6/E10/F6/ /C11 B4221 B4241 B4261 B4281 B4301 B4321 B4341 B4361 B4381 B4401 B4421 B4441 B4461 B4481 B4222 B4242 B4262 B4282 B4302 B4322 B4342 B4362 B4382 B4402 B4422 B4442 B4462 B4482 (A) (B) (C) (D) (E) (F) (G) (H) (I) (J) (K) (L) (M) (N) (A) (B) (C) (D) (E) (F) (G) (H) (I) (J) (K) (L) (M) (N) ORIGINAL NUMBER OF PAYMENTS. Given only for loans with regular payments. values imputed.

All missing

xxx. number (1 to 520) 0. no regular payments, payments NA, INAP (3933/4095/4101 /3102/3874/4065/3404/3962/4075/4103/4103/4103/4017/ 4103 cases) question: D7/E11/F7/ /C12

NUMBER OF PAYMENTS LEFT. Calculated from the original number of payments, the date of the loan, and the current date. If the loan was determined to be overdue, the number of payments left was imputed. xxx. number (1 to 499) 0. no regular payments, payments NA, INAP (3933/4095/4101 /3102/3874/4065/3404/3962/4075/4103/4103/4103/4017/ 4103 cases)

B4465 (M) AMOUNT OF BALLOON PAYMENT (IF ANY). Answered only for other housing loans. All missing values

were imputed. xxxxx. dollars (1,200 to 35,000) 0. none, INAP (4094 cases) question: C14,C14a B4223 B4243 B4263 B4283 B4303 B4323 B4343 B4363 B4383 B4403 B4423 B4443 B4463 B4483 (A) (B) (C) (D) (E) (F) (G) (H) (I) (J) (K) (L) (M) (N) ANNUAL RATE OF INTEREST. Answered directly for all loans with no regular payments. If the loan has regular payments and all payment terms were given, the interest rate was solved for from the implied repayment pattern. In cases where this was inconsistent with the interest rate given by respondent, the solved for rate was generally used. If the interest rate was missing and other payment terms as well, the interest rate was imputed using rates prevailing at the time the loan was issued, according to the type of loan and its purpose. xxx. -6. -9. 0. percentage rate times 10 (10 to 387) zero (8/0/0/11/3/1/6/0/0/107/23/6/5/0 cases) interest rate NA (B4483 only, 34 cases) INAP (3899/4091/4101/3072/3866/4061/3392/3959/4073/ 3500/3982/4069/4003/4067 cases)

question: D6b/E10c/ /F16/C15 Source of Loan B4224 B4244 B4264 B4284 B4304 B4324 B4344 B4364 B4384 B4404 B4424 B4444 B4464 B4484 (A) (B) (C) (D) (E) (F) (G) (H) (I) (J) (K) (L) (M) (N) SOURCE OF LOAN. All missing values were imputed except for investment loans in (N). Imputations were made using the financial services questions (K31g, K36a-c) and conditional mean tables with randomization. 1. commercial bank (84/5/1/426/113/17/174/27/9/124/26/ 8/23/1 cases) 2. savings and loan association or savings bank (38/3/0/54/10/3/16/3/2/31/12/5/5/0 cases) 3. credit union (27/1/0/175/41/15/58/11/3/7/1/0/1/0 cases) 4. finance or loan company (8/0/0/45/10/2/116/23/5/9/3/0/6/0 cases) 5. store or dealer (18/0/0/37/8/0/220/42/3/9/2/1/0/0 cases) 6. brokerage company (1/0/0/0/0/0/0/0/0/23/7/1/0/0 cases) 7. insurance company (summed separately for irregular payments) (7/1/0/4/1/0/2/0/0/203/23/5/7/0 cases) 8. mortgage company (0/0/0/0/0/0/0/0/0/0/0/0/5/0 cases) 9. contractor or developer (4/1/0/0/0/0/0/0/0/0/0/0/3/0 cases) 10. prior owner (0/0/0/4/1/0/2/1/1/2/1/0/12/0 cases) 11. automobile finance company (0/0/0/251/43/3/0/0/0/1/0/0/0/0 cases) 12. doctor or hospital, dentist (0/0/0/0/0/0/75/22/4/32/9/3/0/0 cases) 13. lawyer (0/0/0/0/1/0/0/0/0/4/0/0/0/0 cases) 15. employer (1/0/0/6/0/0/4/1/1/10/2/1/3/0 cases) 16. friend or relative (not codable above) (9/0/1/25/6/1/12/2/1/85/19/2/25/0

cases) 17. individual lender (not codable above) (1/0/0/1/2/1/3/2/0/0/0/0/0/0 cases) 21. real estate investment company (0/0/0/0/0/0/0/0/0/0/0/0/1/0 cases) 22. school, college, university (0/0/0/0/0/0/13/7/1/25/4/2/0/0 cases) 23. local, county, state government (1/0/0/0/0/0/4/1/0/11/1/1/0/0 cases) 24. Federal government: FMHA, SBA, VA, FHA, HUD, NDSL (3/0/0/0/0/0/4/1/0/8/6/2/3/0 cases) 25. other Federal government, IRS (0/0/0/0/0/0/0/0/0/11/3/2/0/0 cases) 30. church (0/0/0/0/0/0/0/0/0/1/0/0/0/0 cases) 32. courts (0/0/0/0/0/0/1/0/0/2/0/0/0/0 cases) 93. farm related lenders (not codable above) (0/0/0/1/0/0/0/0/0/0/0/0/1/0 cases) 94. investment, management, or consulting companies (1/0/0/0/0/0/1/0/0/0/0/0/0/0 cases) 96. combinations (0/0/0/0/0/0/1/0/0/0/0/0/4/0 cases) 97. other lender (1/1/0/2/1/0/5/1/0/5/2/1/1/0 cases) -9. NA (B4484 only, 34 cases) 0. INAP (3899/4091/4101/3072/3866/4061/3392/3959/4073/ 3500/3982/4069/4003/4067 cases) question: D8/E12/F8/F17/C16 B4225 B4245 B4265 B4285 B4305 B4325 B4345 B4365 B4385 (A) (B) (C) (D) (E) (F) (G) (H) (I) PLACE PAPERS FILLED OUT FOR THE LOAN Answered only if the source of the loan was a commercial bank, an S&L, a credit union, or a finance company (codes 1-4 above). Also answered only for vehicle/home improvement and other regular payment loans. This variable is useful in determining if the loan was originated in a dealer, for example, but later sold to a bank. 1. commercial bank (58/2/1/215/74/14/125/18/3 cases) 2. savings and loan association or savings bank (34/2/0/30/7/3/11/0/1 cases) 3. credit union (25/1/0/151/32/14/53/8/3 cases) 4. finance or loan company (5/0/0/24/7/1/61/14/3 cases) 5. store or dealer (4/0/0/235/44/4/75/9/3 cases) 7. insurance company (summed separately for irregular payments) (0/0/0/5/0/0/0/0/0 cases) 9. contractor or developer (11/0/0/0/0/0/1/0/0 cases) 13. lawyer (1/0/0/0/0/0/0/0/0 cases) 16. friend or relative (not codable above) (0/0/0/1/0/0/0/0/0 cases) 17. individual lender (not codable above) (0/0/0/0/0/0/1/1/1 cases) 22. school, college, university (0/0/0/0/0/0/4/1/1 cases) 23. local, county, state government (1/0/0/0/0/0/0/0/0 cases) 26. at home (13/1/0/4/3/0/16/1/0 cases) 97. other location (0/1/0/0/0/0/3/1/0 cases) -8. DK (0/0/0/4/1/0/0/0/0 cases) -9. NA (5/2/0/31/6/1/14/11/4 cases) 0. loan source is not a bank, S&L, credit union, or

finance Co., INAP (3946/4094/4102/3403/3929/4066/3739/4039/4084 cases) question: D9/E13/F9 Loan Payment Problems B4207 PROBLEMS PAYING LOANS. Respondent answer to the question: "Now thinking of all types of debts, were all payments made the way they were scheduled during the last year, or were payments on any of the loans sometimes made later or missed?" Asked of all respondents with regularly scheduled payments. 1. all paid as scheduled (1255 cases) 5. sometimes got behind or missed payments (417 cases) 7. other, including "payments not due yet" (13 cases) -9. NA (224 cases) 0. INAP, no consumer loans (2194 cases) question: F19 HEAD & SPOUSE DEMOGRAPHIC DATA (H) Household head (husband, if married) (S) Spouse (wife) Demographic data are given for the household head and spouse (if married). Following past convention, the head is arbitrarily assigned to the husband for married couples. Couples "living together" or in common-law marriage are counted as married. Age, Sex, and Marital Status B4501 (H) B4601 (S) MONTH OF BIRTH. All missing values were imputed. xx. month (1 to 12) 0. INAP, no spouse (0/1468 cases) question: R58/S58 B4502 (H) B4602 (S) YEAR OF BIRTH. All missing values were imputed. Imputations were made using the age reported on the interviewer coding sheet, education and job data, and children and spouse's age. xxxx. year (1884 to 1967) 0. INAP (0/1468 cases) question: R58/S58 B4503 (H) B4603 (S) AGE BY DATE OF BIRTH AT LAST BIRTHDAY. All missing values were imputed. This variable was

calculated from the month and year of birth. xx. years (15 to 98) 0. INAP (0/1468 cases) B4504 (H) AGE AT LAST BIRTHDAY AS REPORTED ON INTERVIEWER B4604 (S) CODING SHEET. This age may differ from that calculated from the reported date of birth (B4503 or B4603). B4504 is the same as B3127 and B4604 is the same as B3130 (if married). All missing values were imputed. Imputations were done using date of birth, job history, children and spouse's age, and education. xx. years (15 to 98) 0. INAP (0/1468 cases) question: X4 B3126 (H) SEX OF HEAD. Observed by the interviewer. Given only for the head, as the spouse is always female. No missing values. 1. male (3135 cases) 2. female (968 cases) question: X1 B3111 RACE OF HOUSEHOLD. Variable is the observed race of the survey respondent. All missing values were imputed using census data and other sources. 1. 2. 3. 4. 5. caucasion except hispanic (3468 cases) black except hispanic (478 cases) hispanic (111 cases) American indian or Alaskan native (9 cases) Asian or pacific islander (37 cases)

question: X3 B3112 (H) MARITAL STATUS OF HEAD. No missing values (no imputations were needed). 1. married (includes common-law marriage or couples living together as "partners") (2635 cases) 2. separated (144 cases) 3. divorced (431 cases) 4. widowed (442 cases) 5. never married (451 cases) question: R59 Education and Health

B4505 (H) B4605 (S)

YEARS OF EDUCATION. All missing values were imputed. Imputations were made using age at first job or child, military service, occupation, and education of spouse. xx. highest grade finished (1 to 17) -6. none (16/6 cases) 0. INAP (0/1468 cases)

question: R61/S61 B4506 (H) B4606 (S) GRADUATED FROM HIGH SCHOOL (OR EQUIVALENCY TEST)? All missing values were imputed. 1. yes (3031/2098 cases) 5. no (1072/537 cases) 0. INAP (0/1468 cases) question: R61a/S61a B4507 (H) B4607 (S) GRADUATED FROM COLLEGE? Includes some junior college graduates, who will generally have only 14 or 15 years of education. All missing values were imputed. 1. yes (1152/611 cases) 5. no (2951/2024 cases) 0. INAP (0/1468 cases) question: R61b/S61b B4508 (H) B4608 (S) SERVED IN MILITARY? All missing values were imputed. 1. yes (1560/41 cases) 5. no (2543/2594 cases) 0. INAP (0/1468 cases) question: R60/S60 B4509 (H) B4609 (S) HEALTH. Health as self-reported. 1. 2. 3. 4. 0.

No missing values.

excellent (1652/1154 cases) good (1572/1001 cases) fair (600/344 cases) poor (279/136 cases) INAP (0/1468 cases)

question: R62/S62 Current Job Status B4510 (H) JOB STATUS AT THE TIME OF THE INTERVIEW.

B4610 (S)

All missing values were imputed. 11. 12. 13. 14. 15. 16. 17. 18. 20. 21. 22. 30. 31. 32. 33. 50. 51. 52. 70. 72. 73. 80. 81. 97. 0. working more than 20 hours a week (2569/976 cases) working 20 hours per week or less (87/197 cases) retired, work more than 20 hours a week (48/3 cases) student, work more than 20 hours a week (18/1 cases) housewife, work more than 20 hours a week (4/39 cases) unemployed, work more than 20 hours a week (9/1 cases) other, work more than 20 hours a week (4/3 cases) other, work 20 hours per week or less (1/6 cases) laid off, will return (65/16 cases) laid off, no return (9/6 cases) laid off/other, will return (1/1 cases) unemployed, worked before (189/52 cases) unemployed, never worked (8/2 cases) unemployed, work 20 hours per week or less (10/5 cases) unemployed/other not working (3/1 cases) retired, not working (758/185 cases) retired, work 20 hours per week or less (75/6 cases) retired/other not working (2/3 cases) student, not working (37/21 cases) student, work 20 hours per week or less (28/4 cases) student/other, not working (0/1 cases) housewife, not working (144/1015 cases) housewife, work 20 hours per week or less (5/66 cases) other, not working (29/25 cases) INAP (0/1468 cases)

question: R1,R1a,R1b,R1c,R1d/S1,S1a,S1b,S1c,S1d B4511 (H) B4611 (S) JOB STATUS RECODE. 1. working fulltime, more than 20 hours per week (2652/1023 cases) 2. working parttime, 20 hours per week or less (206/284 cases) 3. temporarily laid off, plan to return to job (information is given for the job) (67/16 cases) 4. unemployed, laid off and will not return to job (209/61 cases) 5. retired, not working (760/188 cases) 6. student, not working (37/22 cases) 7. housewife, not working (143/1016 cases) 8. other, not working (29/25 cases) 0. INAP (0/1468 cases) B4512 (H) B4612 (S) CURRENT JOB CODE. 1. 2. 3. 4. 5. not currently working (1178/1312 cases) currently working, no pension benefits (1282/759 cases) current working, main pension benefits only (1169/429 cases) currently working, thrift plan benefits only (116/37 cases) currently working, main pension and thrift plan benefits (358/98 cases) 0. INAP (0/1468 cases)

Job History B4513 (H) B4613 (S) NUMBER OF FULLTIME JOBS HELD MORE THAN ONE YEAR. All missing values were imputed. xx. jobs (1 to 30) -6. none (223/459 cases) 0. INAP (0/1468 cases) question: R50/S50 B4514 (H) B4614 (S) EXPECT TO WORK FULLTIME IN THE FUTURE? Answered only if never had a fulltime job (B4513 or B4613 = -6). Imputed in some instances when the individual was beyond normal working years. 1. yes (77/51 cases) 5. no (112/283 cases) -8. DK (7/23 cases) -9. NA (27/102 cases) 0. worked fulltime, INAP (3880/3644 cases) question: R50a/S50a B4515 (H) B4615 (S) AGE OF FIRST FULLTIME JOB. Answered only if had a fulltime job (B4513 or B4613 > 0). All missing values were imputed using education, specific job dates, children's age, and conditional mean tables with randomization. xx. years (11 to 63) 0. never had a fulltime job, INAP (223/1927 cases) question: R51/S51 B4516 (H) B4616 (S) NUMBER OF YEARS WORKING FULLTIME JOBS. Answered directly of respondents with job breaks, and calculated from the age started working and current age for others. All missing values were imputed using education, specific job dates, military, children's age, and conditional mean tables with randomization. xx. years (1 to 69) 0. never had a fulltime job, INAP (223/1927 cases) question: R52a/S52a B4517 (H) B4617 (S) NUMBER OF YEARS WORKING PARTTIME JOBS LASTING YEAR OR MORE. Includes only primary jobs. Answered directly by some respondents and calculated for others. All missing values were imputed using education, specific job dates, military, children's age, and conditional mean tables with randomization.

xx. years (1 to 47) -6. none (3199/1666 cases) 0. INAP (0/1468 cases) question: R54/S54 B4518 (H) B4618 (S) NUMBER OF YEARS SINCE AGE OF FIRST JOB THAT NOT WORKING. Answered directly by some respondents and calculated from age started working and current age for others. If respondent never had a fulltime job, this variable plus the number of years with parttime jobs equals the current age minus 18 (or is coded zero for head or spouse under 18). For those with at least one fulltime job but no parttime jobs, this variable plus the number of fulltime years equals the current age minus the age at the first job. For those with both full and parttime jobs this variable has one of two values which can be determined uniquely: (1) this variable plus the number of fulltime years plus the number of parttime years equals the current age minus the age at the first job; (2) this variable plus the number of fulltime years plus the number of parttime years equals the current age minus 18 (indicates parttime jobs started before fulltime job). All missing values were imputed using education, specific job dates, military, children's age, and conditional mean tables with randomization. xx. years (1 to 73) -6. none (2572/687 cases) 0. INAP (0/1468 cases) question: R52/S52 Retirement Ages B4519 (H) B4619 (S) REPORTED AGE DID/EXPECT TO RETIRE FROM FULLTIME WORK. As reported by respondent. xx. -6. -7. -8. -9. 0. years (18 to 90) never worked fulltime job (153/414 cases) never stop (487/137 cases) DK (174/134 cases) NA (98/78 cases) INAP (0/1468 cases)

question: R53,R53a/S53,S53a B4520 (H) B4620 (S) AGE DID/EXPECT TO RETIRE FROM FULLTIME WORK. Most missing values were imputed for observations where head or spouse is over age 39 (otherwise the same as B4519 or B4619). Imputed (and corrected) for some individuals who had already retired, from the

dates reported inthe Past Job Section. xx. -6. -7. -8. -9. 0. B4521 (H) B4621 (S) years (17 to 90) never worked fulltime job (112/292 cases) never stop (480/138 cases) DK (141/112 cases) NA (73/154 cases) INAP (0/1468 cases)

REPORTED AGE DID/EXPECT TO RETIRE FROM ALL WORK. Answer given by respondent. xx. -6. -7. -8. -9. 0. years (17 to 90) never worked any job (87/260 cases) never stop (969/306 cases) DK (266/218 cases) NA (127/100 cases) INAP (0/1468 cases)

question: R55,R55a/S55,S55a B4522 (H) B4622 (S) AGE DID/EXPECT TO RETIRE FROM ALL WORK. Most missing values were imputed for observations where head or spouse is over age 39 (otherwise the same as B4521 or B4621). Imputed (and corrected) for some individuals who had already retired, from the dates reported in the Past Job Section. xx. -6. -7. -8. -9. 0. years (17 to 90) never worked any job (72/184 cases) never stop (1087/371 cases) DK (123/151 cases) NA (50/132 cases) INAP (0/1468 cases) CURRENT JOB (H) Household head (husband, if married) (S) Spouse (wife) Information is given for the current job if the head or spouse is working or temporarily laid off from their job. Occupation/Industry B4531 (H) B4631 (S) 3 DIGIT 1970 CENSUS OF POPULATION OCCUPATION CODE. Coded from questionnaires by SRC. All missing values were imputed. xxx. see table A1 for codes (1 to 984) 0. INAP, not working (1179/2779 cases) question: R2/S2

B4532 (H) B4632 (S)

1 DIGIT 1970 OCCUPATION RECODE. Recoded from B4531/B4631. No missing values. 1. professional, technical, and kindred workers (3 digit codes 1-195) (533/281 cases) 2. managers and administrators (except farm) (3 digit codes 201-245 and not self-employed) (535/121 cases) 3. self-employed managers (3 digit codes 201-245 and self-employed) (202/57 cases) 4. sales, clerical, and kindred workers (3 digit codes 260-285 or 301-395) (365/471 cases) 5. craftsmen, protective service, and kindred workers (3 digit codes 401-580, 961, or 963-965) (490/25 cases) 6. operatives, laborers, and service workers (3 digit codes 601-785, 821-824, 901-960, 962 or 980-984) (706/363 cases) 7. farmers and farm managers (3 digit codes 801-802) (64/4 cases) 8. members of armed services (3 digit codes 996-998, 600, or 580) (29/2 cases) 0. INAP (1179/2779 cases)

B4533 (H) B4633 (S)

3 DIGIT 1980 CENSUS OF POPULATION OCCUPATION CODE. Computed using a program which maps from 1970 codes (B4531 or B4631) to 1980 codes. xxx. see table A2 for codes (5 to 900) 0. INAP (1179/2779 cases)

B4534 (H) B4634 (S)

DETAILED 1980 CENSUS OF POPULATION OCCUPATION RECODE. Census-defined "detailed" occupation groups. Used by the CPS. xx. see table A3 for codes (1 to 51) 0. INAP (1179/2779 cases)

B4535 (H) B4635 (S)

MAJOR 1980 CENSUS OF POPULATION OCCUPATION RECODE. Census-defined "major" occupation groups. Used by the CPS. 1. executive, administrative & managerial (3 digit codes 3-37) (706/175 cases) 2. professional specialty occupations (3 digit codes 43-199) (424/239 cases) 3. technicians & related support occupations (3 digit codes 203-235) (87/34 cases) 4. sales occupations (3 digit codes 243-285) (205/134 cases) 5. administrative support, including clerical (3 digit codes 303-389) (224/365 cases) 6. private household (3 digit codes 403-407) (43/41 cases) 7. protective services (3 digit codes 413-427, 900) (85/8 cases) 8. service, except private household and protective (3 digit codes 433-469) (142/163 cases) 9. farming, forestry and fishing (3 digit codes 473-499) (118/12 cases) 10. precision production, craft and repair occupations

(3 digit codes 503-699) (431/50 cases) 11. machine operators, assemblers, and inspectors (3 digit codes 703-799) (215/67 cases) 12. transportation and material moving occupations (3 digit codes 803-859) (147/13 cases) 13. handlers, equipment cleaners, helpers and laborers (3 digit codes 863-889) (97/23 cases) 0. INAP (1179/2779 cases) B4536 (H) B4636 (S) 3 DIGIT 1970 CENSUS OF POPULATION INDUSTRY CODE. Coded from questionnaires by SRC. xxx. see table A4 for codes (17 to 937) -9. NA (46/18 cases) 0. INAP (1179/2779 cases) question: R3/S3 B4537 (H) B4637 (S) 3 DIGIT 1980 CENSUS OF POPULATION INDUSTRY CODE. Computed using a program which maps from 1970 codes (B4536 or B4636) to 1980 codes. xxx. see table A5 for codes (10 to 900) -9. NA (46/18 cases) 0. INAP (1179/2779 cases) B4538 (H) B4638 (S) DETAILED 1980 CENSUS OF POPULATION INDUSTRY RECODE. Census-defined "detailed" industry codes. Used by the CPS. xx. see table A6 for codes (1 to 46) -9. NA (46/18 cases) 0. INAP (1179/2779 cases) B4539 (H) B4639 (S) MAJOR 1980 CENSUS OF POPULATION INDUSTRY RECODE. Census-defined "major" industry groups. Used by the CPS. 1. agriculture, forestry, and fisheries (3 digit codes 10-31) (116/17 cases) 2. mining (3 digit codes 40-50) (55/6 cases) 3. construction (3 digit code 60) (209/16 cases) 4. durable goods (3 digit codes 230-392) (447/83 cases) 5. nondurable goods (3 digit codes 100-222) (245/106 cases) 6. transport, communications, and other public utilities (3 digit codes 400-472) (224/45 cases) 7. wholesale trade (3 digit codes 500-571) (125/39 cases) 8. retail trade (3 digit codes 580-691) (297/218 cases) 9. finance, insurance, and real estate (3 digit codes 700-712) (209/106 cases) 10. business and repair services (3 digit codes 721-760) (148/64 cases) 11. personal services, including private households (3 digit codes 761-791) (64/92 cases) 12. entertainment and recreation services

(3 digit codes 800-802) (24/9 cases) 13. professional and related services (3 digit codes 812-892) (533/450 cases) 14. public administration (3 digit codes 900-932) (182/55 cases) -9. NA (46/18 cases) 0. INAP (1179/2779 cases) B4540 (H) B4640 (S) TYPE OF EMPLOYER. All missing values were imputed. 1. 2. 3. 4. 5. 6. federal government (103/44 cases) state/local government (231/99 cases) public school/college (124/138 cases) private school (32/30 cases) military (32/2 cases) employed by private sector, less than 100 employees (660/352 cases) 7. employed by private sector, more than 100 employees (1231/456 cases) 8. self-employed (511/203 cases) 0. INAP (1179/2779 cases) question: R4,R4a,R5/S4,S4a,S5 Last Worked on Job/Number of Years on Job B4541 (H) B4641 (S) MONTH LAST WORKED. Information on last worked is given only if head/spouse is temporarily laid off from their job and intends to return (B4510 or B4610 equals 20 or 22). All missing values were imputed. xx. month (1 to 12) -6. currently working (2858/1307 cases) 0. INAP (1179/2779 cases) question: R1b/S1b B4542 (H) B4642 (S) YEAR LAST WORKED. All missing values were imputed. 1981. 1982. 1983. -6. 0. (4/0 cases) (38/8 cases) (24/9 cases) currently working (2858/1307 cases) INAP (1179/2779 cases)

question: R1b/S1b B4543 (H) B4643 (S) NUMBER OF YEARS SPENT WORKING FOR EMPLOYER. All missing values were imputed. xx. years (1 to 59)

0. INAP (1179/2779 cases) question: R6/S6 Job Terms/Wages B4544 (H) B4644 (S) AVERAGE HOURS PER WEEK WORKED. All missing values were imputed. xx. hours (1 to 95) 0. INAP (1179/2779 cases) question: R8/S8 B4545 (H) B4645 (S) AVERAGE WEEKS PER YEAR WORKED. All missing values were imputed. xx. weeks (1 to 52) 0. INAP (1179/2779 cases) question: R9/S9 B4546 (H) B4646 (S) ANNUAL INCOME. If reported wages were given for periods of less than one year they were converted to an annual wage by reported hours-per-week and weeks-per-year. For the area probability sample, All missing values were imputed by matching the March 1983 CPS average log-wages for persons of same sex, race, age, and 3 digit occupation and adding a random error term. Imputations were done on a per-hour wage basis an adjusted for hours-per-week and weeks-per-year. Imputations were done jointly with past jobs, and were designed so that the error terms would have a "random effect" with the same correlation as the sample with complete information. If wages were known for some jobs but not all, this information was used in constructing the random effect, and thus affected all imputations. For the highincome sample, imputations were made using occupation/age tables constructed from the high-income observations with good data. After matching, random terms were added during imputation. xxxxxxx. dollars (15 to 1,200,000) 0. INAP (1179/2779 cases) question: R10/S10 B4547 (H) B4647 (S) WEEKLY INCOME. Computed from annual income (B4546 or B4646), adjusted to a weekly wage by reported weeks-per-year (B4545 or B4645). All missing values were imputed as above. xxxxx. dollars (1 to 27,273)

0. INAP (1179/2779 cases) B4548 (H) B4648 (S) JOB COVERED BY UNION CONTRACT? All missing values were imputed using conditional mean tables with randomization. 1. yes (691/229 cases) 5. no (2233/1095 cases) 0. INAP (1179/2779 cases) question: R11/S11 B4549 (H) B4649 (S) JOB COVERED BY SOCIAL SECURITY? Answer given by respondent. 1. 5. -8. -9. 0. yes (2545/1066 cases) no (360/245 cases) DK (10/8 cases) NA (9/5 cases) INAP (1179/2779 cases)

question: R12/S12 B4550 (H) B4650 (S) ESTIMATED SOCIAL SECURITY COVERAGE? Computed from Social Security rules. 1. yes (2749/1233 cases) 5. no (175/91 cases) 0. INAP (1179/2779 cases) Leave Current Job B4551 (H) B4651 (S) REPORTED NUMBER OF YEARS BEFORE EXPECT TO LEAVE JOB. Answer given by respondent. xx. -7. -8. -9. 0. years (1 to 50) never retire (478/182 cases) DK (208/183 cases) NA (69/37 cases) INAP (1179/2779 cases)

No missing values.

question: R7/S7 B4552 (H) B4652 (S) ESTIMATED NUMBER OF YEARS BEFORE EXPECT TO LEAVE JOB. All missing values were imputed for observations where head or spouse is over age 39 and for some others (otherwise the same as B4551 or B4651). xx. -7. -8. -9. 0. years (1 to 50) never retire (304/120 cases) DK (266/196 cases) NA (86/42 cases) INAP (1179/2779 cases)

B4553 (H) B4653 (S)

ESTIMATED AGE WHEN EXPECTED TO LEAVE JOB. Estimated years before leaving added to age by birth date (B4552 + B4503 or B4652 + B4603). All missing values were imputed for observations where head or spouse is over age 39 and for some others. xxx. -7. -8. -9. 0. years (19 to 100) never retire (304/120 cases) DK (266/196 cases) NA (86/42 cases) INAP (1179/2779 cases) Other Work For Employer

B4554 (H) B4654

NUMBER OF OTHER TYPES OF WORK (OCCUPATIONS) FOR EMPLOYER. xx. -8. -9. 0. types of work (1 to 30) DK (0/3 cases) NA (12/3 cases) INAP, no other work for employer (3622/3939 cases)

question: R14,R14a/S14,S14a B4555 (H) B4655 (S) YEARS SPENT WORKING ON OTHER WORK. xx. -8. -9. 0. years (1 to 47) DK (5/0 cases) NA (13/6 cases) INAP (3622/3939 cases)

question: R14d/S14d B4556 (H) B4656 (S) 3 DIGIT 1970 CENSUS OF POPULATION OCCUPATION CODE OTHER WORK. If there are multiple other jobs, the occupation of the one where the longest time was spent is coded. The occupation is coded from questionnaires by SRC. xxx. see table A1 for codes (1 to 982) -9. NA (16/4 cases) 0. INAP (3622/3939 cases) question: R14b,R14c/S14b,S14c B4557 (H) B4657 (S) 3 DIGIT 1980 CENSUS OF POPULATION OCCUPATION CODE OTHER WORK. Coded for the longest other job as above. Computed using a program which maps from 1970 codes (B4556 or B4656) to 1980 codes. xxx. see table A2 for codes (5 to 900)

-9. NA (16/4 cases) 0. INAP (3622/3939 cases) B4558 (H) B4658 (S) DETAILED 1980 CENSUS OF POPULATION OCCUPATION OTHER WORK. Coded for the longest other job as above. Census-defined "detailed" occupation groups. Used by the CPS. xx. see table A3 for codes (1 to 51) -9. NA (16/4 cases) 0. INAP (3622/3939 cases) Calculated Relative Real Wage Growth Variables Using the March 1983 CPS survey data, log-wage (annual income) was regressed against a constant, age, max(0,age-35), max(0,age-55), dummies for level of education (high school graduate, some college, college graduate, and post baccalaureate study -- less than high school graduate is the omitted category), and dummies for non-white, self-employment, and less than 20 hours per week of work. Separate regressions were run for males and females. The regressions were also run separately for each 1980 3 digit occupation code. This yields within-occupation expected annual real wage growth rates (abstracting from economy-wide productivity growth) for three different age spans, controlling for race and sex. Predicted values from the regression also yield the average fulltime annual income by 3 digit occupation code controlling for age, sex, and race. B4559 (H) B4659 (S) WAGE GROWTH SLOPE FOR UNDER 35 YEARS. xxx. slope times 10000 (-38 to 116) 0. zero or INAP (1184/2795 cases) B4560 (H) B4660 (S) WAGE GROWTH SLOPE FOR AGES 36 TO 55. xxx. slope times 10000 (-43 to 19) 0. zero or INAP (1353/2866 cases) B4561 (H) B4661 (S) WAGE GROWTH SLOPE FOR AGES OVER 55. xxxx. slope times 10000 (-117 to 60) 0. INAP (1226/2838 cases) B4562 (H) B4662 (S) INTERCEPT FOR OCCUPATION FROM CPS REGRESSION. This is the sum of the occupation-specific constant term plus the dummy variable terms evaluated at the values given for the particular observation. xxxx. intercept times 1000 (-513 to 3,709) 0. INAP (1179/2779 cases)

B4563 (H) B4663 (S)

STANDARD ERROR FOR OCCUPATION FROM CPS REGRESSION. xxxx. standard error times 1000 (321 to 2,558) 0. INAP (1179/2779 cases) ANNUAL EXPECTED INCOME CREATED FROM CPS REGRESSION. The variable is for a fulltime worker. xxxxx. dollars (773 to 108,744) 0. INAP (1179/2779 cases) Occupation Code Employment Data

B4564 (H) B4664 (S)

B4565 (H) B4665 (S)

PERCENTAGE OF WEEKS WORKED IN 1982 BY OCCUPATION CODE. The average percentage of yearly weeks worked (out of a maximum of 52) for persons of the same 1980 3-digit occupation code (B4533 or B4633) as the head (or spouse). These data are calculated from the March 1983 CPS data file. No missing values. xxxx. percentage times 100 (4,999 to 9,785) 0. INAP (1179/2779 cases)

B4566 (H) B4666 (S)

PERCENTAGE OF HOURS WORKED IN 1982 BY OCCUPATION CODE. The average percentage of yearly hours worked (out of a maximum of 2080) for persons of the same 1980 3-digit occupation code (B4533 or B4633) as the head (or spouse). These data are calculated from the March 1983 CPS data file. No missing values. xxxx. percentage times 100 (3,113 to 9,785) 0. INAP (1179/2779 cases)

B4567 (H) B4667 (S)

PERCENTAGE OF PERSONS IN OCCUPATION UNEMPLOYED IN 1982. The percentage of persons in the same 1980 3-digit occupation code (B4533 or B4633) as the head (or spouse) that received unemployment or workman's compensation in 1982. These data are calculated from the March 1983 CPS data file. No missing values. xxxx. percentage times 100 (212 to 4,943) 0. INAP (1179/2779 cases) PAST JOBS

(A) Job before retired/disabled or last paid job if unemployed, student, or housewife (B) Longest prior job (C) Other job from which expect to or now receive pension (H) Household head (husband, if married) (S) Spouse (wife) Detailed job data, comparable to that of the current job, was

asked of up to three previous jobs for both the household head head and spouse. Information was solicited on the previous job for all those unemployed, retired, disabled, students, or housewives. Data was also sought on their longest job (prior to the current one), and any other jobs for which he/she received or expected a pension (most are military). Occupation/Industry B4701 B4731 B4761 B4801 B4831 B4861 (A) (B) (C) (A) (B) (C) (H) (H) (H) (S) (S) (S) 3 DIGIT 1970 CENSUS OF POPULATION OCCUPATION CODE. Coded from questionnaires by SRC. Some missing values imputed. xxx. see table A1 for codes (1 to 984) -9. NA (5/49/2/3/27/0 cases) 0. INAP, no job (2897/1092/4056/3040/2543/4099 cases)

question: R28,R28a,R28b/S28,S28a,S28b B4702 B4732 B4762 B4802 B4832 B4862 B4703 B4733 B4763 B4803 B4833 B4863 B4704 B4734 B4764 B4804 B4834 B4864 (A) (B) (C) (A) (B) (C) (A) (B) (C) (A) (B) (C) (A) (B) (C) (A) (B) (C) (H) (H) (H) (S) (S) (S) (H) (H) (H) (S) (S) (S) (H) (H) (H) (S) (S) (S) 3 DIGIT 1980 CENSUS OF POPULATION OCCUPATION CODE. Computed using a program which maps from 1970 codes. xxx. see table A2 for codes (5 to 900) -9. NA (5/49/2/3/27/0 cases) 0. INAP (2897/1092/4056/3040/2543/4099 cases) DETAILED 1980 CENSUS OF POPULATION OCCUPATION RECODE. Census-defined "detailed" occupation groups. Used by the CPS. xx. see table A3 for codes (1 to 51) -9. NA (5/49/2/3/27/0 cases) 0. INAP (2897/1092/4056/3040/2543/4099 cases) 3 DIGIT 1970 CENSUS OF POPULATION INDUSTRY CODE. Coded from questionnaires by SRC. Some missing values were imputed. xxx. see table A4 for codes (17 to 937) -9. NA (22/89/3/22/50/0 cases) 0. INAP (2897/1092/4056/3040/2543/4099 cases)

question: R29/S29 B4705 B4735 B4765 B4805 B4835 B4865 (A) (B) (C) (A) (B) (C) (H) (H) (H) (S) (S) (S) 3 DIGIT 1980 CENSUS OF POPULATION INDUSTRY CODE. Computed using a program which maps from 1970 codes. xxx. see table A5 for codes (10 to 900) -9. NA (22/89/3/22/50/0 cases) 0. INAP (2897/1092/4056/3040/2543/4099 cases) DETAILED 1980 CENSUS OF POPULATION INDUSTRY RECODE. Census-defined "detailed" industry codes. Used by the CPS.

B4706 (A) (H) B4736 (B) (H) B4766 (C) (H)

B4806 (A) (S) B4836 (B) (S) B4866 (C) (S) B4707 B4737 B4767 B4807 B4837 B4867 (A) (B) (C) (A) (B) (C)

xx. see table A6 for codes (1 to 46) -9. NA (22/89/3/22/50/0 cases) 0. INAP (2897/1092/4056/3040/2543/4099 cases)

(H) TYPE OF EMPLOYER. (H) (H) 1. federal government (55/85/3/44/49/1 cases) (S) 2. state/local government (94/137/1/69/109/0 cases) (S) 3. public school/college (51/90/0/88/114/1 cases) (S) 4. private school (12/47/3/23/52/0 cases) 5. military (23/199/21/4/6/0 cases) 6. employed by private sector, less than 100 employees (320/966/2/349/485/0 cases) 7. employed by private sector, more than 100 employees (498/1196/14/420/653/2 cases) 8. self-employed (148/214/0/54/60/0 cases) -9. DK, NA (5/50/3/12/32/0 cases) 0. INAP (2897/1092/4056/3040/2543/4099 cases)

question: R30,R31,R32/S30,S31,S32 Last Worked On Job/Years on Job B4708 B4738 B4768 B4808 B4838 B4868 (A) (B) (C) (A) (B) (C) (H) MONTH LAST WORKED. (H) Most missing values were imputed using work history data. (H) (S) xx. month (1 to 12) (S) -6. currently working (applies to second jobs with (S) pensions, mainly military reserves) (2/22/3/0/2/0 cases) -8. DK (1/6/0/0/3/0 cases) -9. NA (1/19/2/3/10/0 cases) 0. INAP (2897/1092/4056/3040/2543/4099 cases)

question: R33/S33 B4709 B4739 B4769 B4809 B4839 B4869 (A) (B) (C) (A) (B) (C) (H) (H) (H) (S) (S) (S) YEAR LAST WORKED. Most missing values were imputed using work history data. xxxx. year (1913 to 1983) -6. currently working (applies to second jobs with pensions, mainly military reserves) (2/22/3/0/2/0 cases) -8. DK (1/6/0/0/3/0 cases) -9. NA (1/19/2/3/10/0 cases) 0. INAP (2897/1092/4056/3040/2543/4099 cases)

question: R33/S33 B4710 B4740 B4770 B4810 B4840 B4870 (A) (B) (C) (A) (B) (C) (H) NUMBER OF YEARS SPENT WORKING FOR EMPLOYER. (H) Most missing values were imputed using work history data. (H) (S) xx. years (1 to 61) (S) -8. DK (1/6/0/0/3/0 cases) (S) -9. NA (1/19/2/3/10/0 cases) 0. INAP (2897/1092/4056/3040/2543/4099 cases)

question: R34/S34 Job Terms/Wages B4711 B4741 B4771 B4811 B4841 B4871 (A) (B) (C) (A) (B) (C) (H) AVERAGE HOURS PER WEEK WORKED. (H) Most missing values were imputed using work history data. (H) (S) xx. hours (1 to 95) (S) -8. DK (1/4/0/0/2/0 cases) (S) -9. NA (1/20/2/3/10/0 cases) 0. INAP (2897/1092/4056/3040/2543/4099 cases)

question: R35/S35 B4712 B4742 B4772 B4812 B4842 B4872 (A) (B) (C) (A) (B) (C) (H) AVERAGE WEEKS PER YEAR WORKED. (H) Most missing values were imputed using work history data. (H) (S) xx. weeks (1 to 52) (S) -8. DK (1/4/0/0/2/0 cases) (S) -9. NA (1/21/2/3/10/0 cases) 0. INAP (2897/1092/4056/3040/2543/4099 cases)

question: R36/S36 B4713 B4743 B4773 B4813 B4843 B4873 (A) (B) (C) (A) (B) (C) (H) ANNUAL INCOME FROM JOB WHEN LEFT. (H) If reported wages were given for periods of less than one year (H) they were converted to an annual wage by reported hours-per(S) week and weeks-per-year. Almost all missing values were (S) imputed by matching the March 1983 CPS average log-wages for (S) persons of the same sex, race, age, and 3 digit occupation and adding a random error term for the area probability sample. Imputations were done on a per-hour wage basis and adjusted for hours-per-week and weeks-per-year. Imputed values were deflated back to the year of the job using the aggregate wage index. Imputations were done jointly with for all past and current jobs, and were designed so that the error terms would have a "random effect" with the same correlation as the non-imputed sample. If wages were known for some jobs but not all, this information was used in constructing the random effect, and thus affected all imputations. Imputations were not made for the high-income sample except in very limited cases (e.g. military). xxxxxxx. -8. -9. 0. dollars (5 to 1,000,000) DK (4/22/0/0/6/0 cases) NA (7/47/2/5/19/0 cases) INAP (2897/1092/4056/3040/2543/4099 cases)

question: R37/S37 B4714 (A) (H) ANNUAL INCOME FROM JOB WHEN LEFT IN 1983 DOLLARS

B4744 B4774 B4814 B4844 B4874

(B) (C) (A) (B) (C)

(H) (H) (S) (S) (S)

Computed from nominal income. Adjusted by the CPI to April 1983 (the 1967 CPI index = 295.5). Amost all missing values were imputed. xxxxxxx. 1983 dollars (5 to 1,016,862) -8. DK (4/22/0/0/6/0 cases) -9. NA (7/48/2/5/19/0 cases) 0. INAP (2897/1092/4056/3040/2543/4099 cases)

B4715 B4745 B4775 B4815 B4845 B4875

(A) (B) (C) (A) (B) (C)

(H) JOB COVERED BY UNION CONTRACT? (H) No missing values were imputed. (H) (S) 1. yes (345/566/3/160/213/1 cases) (S) 5. no (850/2376/41/876/1303/3 cases) (S) -8. DK (5/24/0/13/21/0 cases) -9. NA (6/45/3/14/23/0 cases) 0. INAP (2897/1092/4056/3040/2543/4099 cases)

question: R38/S38 B4716 B4746 B4776 B4816 B4846 B4876 (A) (B) (C) (A) (B) (C) (H) JOB COVERED BY SOCIAL SECURITY? (H) Answer given by respondent. No missing values were imputed. (H) (S) 1. yes (971/2547/25/875/1336/0 cases) (S) 5. no (218/370/19/167/184/4 cases) (S) -8. DK (9/48/0/11/16/0 cases) -9. NA (8/46/3/10/24/0 cases) 0. INAP (2897/1092/4056/3040/2543/4099 cases)

question: R39/S39 B4717 B4747 B4777 B4817 B4847 B4877 (A) (B) (C) (A) (B) (C) (H) ESTIMATED SOCIAL SECURITY COVERAGE? (H) Computed from Social Security rules. Almost no missing (H) values. (S) (S) 1. yes (1094/2695/35/934/1415/3 cases) (S) 5. no (110/283/10/125/128/1 cases) -9. NA (2/33/2/4/17/0 cases) 0. INAP (2897/1092/4056/3040/2543/4099 cases) Calculated Relative Real Wage Growth Variables Using the March 1983 CPS survey data, log-wage (annual income) was regressed against a constant, age, max(0,age-35), max(0,age-55), dummies for level of education (high school graduate, some college, college graduate, and post baccalaureate study -- less than high school graduate is the omitted category), and dummies for non-white, self-employment, and less than 20 hours per week of work. Separate regressions were run for males and females. The regressions were also run separately for each 3 digit occupation code. This yields within-occupation expected annual real wage growth rates (abstracting from economy-wide productivity growth) for three different age spans, controlling for race and sex. Predicted values from the regression also yield the average fulltime annual income by 3 digit occupation code controlling for age, sex, and race. These variables are not

given for the high-income sample. B4718 B4748 B4778 B4818 B4848 B4878 B4719 B4749 B4779 B4819 B4849 B4879 B4720 B4750 B4780 B4820 B4850 B4880 B4721 B4751 B4781 B4821 B4851 B4881 (A) (B) (C) (A) (B) (C) (A) (B) (C) (A) (B) (C) (A) (B) (C) (A) (B) (C) (A) (B) (C) (A) (B) (C) (H) (H) (H) (S) (S) (S) (H) (H) (H) (S) (S) (S) (H) (H) (H) (S) (S) (S) (H) (H) (H) (S) (S) (S) WAGE GROWTH SLOPE FOR UNDER 35 YEARS. xxx. slope times 10000 (-38 to 116) 0. zero, NA, or INAP (2906/1148/4058/3067/2602/4099 cases)

WAGE GROWTH SLOPE FOR AGES 36 TO 55. xxxx. slope times 10000 (-43 to 19) 0. zero, NA or INAP (2977/1321/4060/3139/2709/4099 cases)

WAGE GROWTH SLOPE FOR AGES OVER 55. xxxx. slope times 10000 (-117 to 60) 0. NA or INAP (2969/1222/4059/3092/2655/4100 cases)

INTERCEPT FOR OCCUPATION FROM CPS REGRESSION. This is the sum of the occupation-specific constant term plus the dummy variable terms evaluated at the values given for the particular observation. 0. xxxx. intercept times 1000 (-513 to 3,709) NA or INAP (2902/1141/4058/3043/2570/4099 cases) STANDARD ERROR FOR OCCUPATION FROM CPS REGRESSION. xxxx. standard error times 1000 (298 to 2,558) 0. NA or INAP (2902/1141/4058/3043/2570/4099 cases)

B4722 B4752 B4782 B4822 B4852 B4882 B4723 B4753 B4783 B4823 B4853 B4883

(A) (B) (C) (A) (B) (C) (A) (B) (C) (A) (B) (C)

(H) (H) (H) (S) (S) (S) (H) (H) (H) (S) (S) (S)

ANNUAL EXPECTED INCOME CREATED FROM CPS REGRESSION. Variable is for a fulltime worker. Expressed in 1983 dollars. xxxxx. 1983 dollars (801 to 108,202) -9. NA (5/54/2/5/28/0 cases) 0. INAP (2897/1092/4056/3040/2543/4099 cases) PENSION FOR CURRENT JOB (H) Household head (husband, if married) (S) Spouse (wife)

All current job holders were asked two sets of pension questions. The first, which is described here, related to primary pension plans.

The second, described in the next section, related to thrift-type or secondary pension plans. The taxonomy, however, was self-defined by the respondent. If head/spouse was currently covered by a primary pension plan, all questions in this section were asked. Otherwise only the first two questions on coverage were asked. Pension Coverage B4901 (H) B5001 (S) PENSION COVERAGE. 1. covered and vested, anticipates benefits (1063/326 cases) 2. covered and DK if vested, anticipates benefits (56/31 cases) 3. covered but not vested yet, anticipates benefits (357/147 cases) 4. covered but not vested yet, does not anticipate benefits (51/23 cases) 5. not covered, anticipates will be (pension questions not asked) (131/64 cases) 6. not covered, never will be (pension questions not asked) (663/482 cases) 7. not covered, DK whether will be in future (pension questions not asked) (117/46 cases) 8. self-employed (pension questions not asked) (487/204 cases) 0. INAP, not currently working (1179/2779 cases) question: R15,R15a/S15,S15a B4902 (H) B5002 (S) AGE WHEN EXPECT TO BE COVERED. Answered only if not currently covered but will or may be (pension coverage code, B4901 or B5001, equals 5 or 7). xx. -8. -9. 0. B3309 years (16 to 67) DK (29/15 cases) NA (134/51 cases) INAP, currently covered, or never covered (3855/3993 cases)

question: R15b/S15b NET PRESENT VALUE OF PENSIONS FROM CURRENT JOBS. The sum of the gross present value of current job pension benefits, excluding thrift accounts, for head and spouse (B3310) minus the present value of wage contribution liabilities (B3311). Expectations data used for calculations. No missing values for households where head or spouse is over age 39. xxxxxxx. dollars (xxx to xxxxxxx) -9. NA 0. INAP

B3310

GROSS PRESENT VALUE OF PENSIONS FROM CURRENT JOBS. The sum of the gross present value of current job pension benefits, excluding thrift accounts, for head and spouse (B4920 + B5020). Expectations data used for calculations. No missing values for households where head or spouse is over age 39. xxxxxxx. dollars (xx to xxxxxxx)

-9. NA 0. INAP B3311 PRESENT VALUE OF PENSION LIABILITY FROM CURRENT JOBS. The sum of the gross present value of current job pension contributions for head and spouse (B4928 + B5028). No missing values for households where head or spouse is over age 39. xxxxxx. dollars (xx to xxxxxx) -9. NA 0. INAP B3312 TOTAL DEFINED CONTRIBUTION ACCOUNT PENSION ASSETS. The total amount in defined contribution pension accounts of the current job of head or spouse which could be withdrawn if the employee left the firm (B4930 + B5030). This total is also included in B3309. No missing values. xxxxxx. dollars (10 to 2,000,000) -6. none withdrawable but have defined contribution account (103 cases) 0. none (3528 cases) Number and Type of Plans B4903 (H) B5003 (S) NUMBER OF DISTINCT PENSION PLANS. 1. one (1043/362 cases) 2. optional parts (198/76 cases) 3. more than one plan (109/26 cases) -8. DK (151/60 cases) -9. NA (26/3 cases) 0. INAP, no pension plan (2576/3576 cases) question: R16a/S16a B4904 (H) B5004 (S) TYPE OF PENSION PLAN. If more than one plan, the type of main plan. missing values were imputed. 1. defined benefit (772/249 cases) 3. features of both defined benefit and defined contribution (300/105 cases) 5. defined contribution (173/58 cases) -8. DK (250/108 cases) -9. NA (32/7 cases) 0. INAP (2576/3576 cases) question: R23/S23 B4905 (H) B5005 (S) WHETHER OTHER EMPLOYERS ARE ON MAIN PLAN? No missing values were imputed.

No

1. yes (427/184 cases) 5. no (918/281 cases) -8. DK (153/60 cases) -9. NA (29/2 cases) 0. INAP (2576/3576 cases) question: R16/S16 B4906 (H) B5006 (S) AGE COVERED ON FIRST OR MAIN PLAN. Computed by subtracting the years covered on the main plan from age by birth date. Most missing values were imputed. xx. -8. -9. 0. years (16 to 74) DK (42/16 cases) NA (55/15 cases) INAP (2576/3576 cases)

question: R15b/S15b B4907 (H) B5007 (S) AGE COVERED Computed by second plan values were xx. -8. -9. 0. ON SECOND PLAN. subtracting the years covered on the from age by birth date. Most missing imputed.

years (16 to 60) DK (38/7 cases) NA (179/81 cases) INAP or only one plan (3631/3938 cases)

question: R16c/S16c Retirement Ages B4908 (H) B5008 (S) AGE AT WHICH RESPONDENT WILL BE VESTED IN MAIN PLAN. Some missing values were imputed. Given only if covered but not vested. xx. -6. -8. -9. 0. years (22 to 75) already vested (1063/326 cases) DK (119/79 cases) NA (21/9 cases) INAP (2576/3576 cases)

question: R16d,R16e/S16d,S16e B4909 (H) B5909 (S) AGE AT WHICH RESPONDENT COULD RETIRE WITH FULL BENEFITS. Values were imputed only in cases where it was clear that the question was misinterpreted. xx. -8. -9. 0. years (22 to 85) DK (263/99 cases) NA (63/14 cases) INAP (2576/3576 cases)

question: R17/S17 B4910 (H) B5010 (S) FORMULA FOR TIMING OF RETIREMENT WITH FULL BENEFITS. Values were imputed only in a few cases where it was clear that the question was misinterpreted. 1. retirement formula based on age (615/209 cases) 2. retirement formula based on years of service (333/125 cases) 3. retirement formula based on meeting both age and years of service criteria (135/44 cases) 4. retirement formula based on the sum or age and years of service (8/2 cases) 6. retirement formula based on meeting either age or years of service criteria (120/36 cases) 7. other combinations or formulas (8/2 cases) -8. DK (254/97 cases) -9. NA (54/12 cases) 0. INAP (2576/3576 cases) question: R17/S17 B4911 (H) B5011 (S) AGE AT WHICH RESPONDENT COULD FIRST RETIRE WITH SOME BENEFITS. Values were imputed only in cases where it was clear that the question was misinterpreted. xx. -6. -7. -8. -9. 0. years (22 to 69) cannot retire early with reduced benefits (316/119 cases) other non-numeric answer given (1/0 cases) DK (406/158 cases) NA (81/20 cases) INAP (2576/3576 cases)

question: R18,R19/S18,S19 B4912 (H) B5012 (S) FORMULA FOR TIMING OF EARLY BENEFITS. Values were imputed only in clear that the question was only if early retirement is RETIREMENT WITH SOME a few cases where it was misinterpreted. Asked possible (see B4911 and B5011).

1. retirement formula based on age (370/104 cases) 2. retirement formula based on years of service (237/90 cases) 3. retirement formula based on meeting both age and years of service criteria (71/21 cases) 4. retirement formula based on the sum or age and years of service (1/1 cases) 6. retirement formula based on meeting either age or years of service criteria (51/16 cases) 7. other combinations or formulas (13/5 cases) -6. cannot retire early (316/119 cases) -8. DK (399/156 cases) -9. NA (69/15 cases) 0. INAP (2576/3576 cases)

question: R19/S19 B4913 (H) B5013 (S) AGE AT WHICH RESPONDENT EXPECTS BENEFITS TO START. All missing values were imputed. This question is answered even if respondent does not expect to work long enough to receive benefits. It is the age that respondent expects to begin drawing benefits if it turns out that he/she does receive them. xx. years (34 to 85) 0. INAP (2576/3576 cases) question: R20/S20 B4914 (H) B5014 (S) NUMBER OF YEARS UNTIL BENEFITS START. Computed from age at which benefits are expected to start (B4913 or B5013) and current age as given by birth date (B4503 or B4603). All missing values were imputed. xx. years (1 to 48) 0. INAP (2576/3576 cases) Retirement Benefits B4915 (H) B5015 (S) ANNUAL PAY IN THE FINAL YEAR OF JOB. This variable, used in pension benefit calculations, is computed by projecting current pay to the year respondents say he/she will leave/retire. Wage growth is assumed to have three components: (1) occupation specific (adjusted for age) taken from the slopes in the CPS log-wage regressions (for high-income observations this is assumed to be zero); (2) a Social Security Plan II-B assumption of 1.5% annual economy wide real wage growth; and (3) a Social Security Plan II-B assumption of 4.0% inflation. The variable is computed for all observations where the age of retirement (B4553 or B4653) is given or has been imputed. xxxxxxx. dollars (25 to 2,959,572) -9. NA (223/134 cases) 0. INAP (1178/2780 cases) B4916 (H) B5016 (S) REPORTED EXPECTATION OF RETIREMENT BENEFITS. Variable is the expected dollar retirement benefits in the first year of eligibility as answered by the respondent. For some observations the dollar amount was reported directly, but for others it was computed by multiplying reported benefits as a percentage times the calculated projected final wage. The variable is given as an annual amount except when a lump sum is expected (in which case the lump sum amount is given). xxxxxx. dollars (100 to 3,000,000)

-6. none, covered under plan but don't expect benefits (11/4 cases) -8. DK (822/343 cases) -9. NA (258/62 cases) 0. INAP (2576/3576 cases) question: R21/S21 B4917 (H) B5017 (S) REPORTED EXPECTED RETIREMENT BENEFITS AS PERCENT OF FINAL PAY. This variable is the expected retirement benefits in the first year of eligibility as answered by the respondent, expressed as a percent of their projected wages in their final year of work. For some observations the percent was reported directly, but for others it was computed by dividing the reported dollar benefit by the calculated projected final wage. xxxx. percentage times 10 (4 to 1,000) -6. none, covered under plan but don't expect benefits (11/7 cases) -7. answer above (B4916 or B5016) is a lump sum benefit in dollars (19/8 cases) -8. DK (35/19 cases) -9. NA (1275/472 cases) 0. INAP (2576/3576 cases) question: R21/S21 B4918 (H) B5018 (S) EXPECTED RETIREMENT BENEFITS. This variable is the expected dollar retirement benefits in the first year of eligibility as shown above (B4916 or B5016), but with missing values imputed for households where the head or spouse is over age 39. Imputations were made using a regression for benefits as a percent of final wages (see B4919 or B5019) with a random term added. The variable is given as an annual amount except when a lump sum is expected (in which case the lump sum amount is given). xxxxxxx. dollars (100 to 3,000,000) -6. none, covered under plan but don't expect benefits (51/23 cases) -8. DK (389/175 cases) -9. NA (40/14 cases) 0. INAP (2576/3576 cases) B4919 (H) B5019 (S) EXPECTED RETIREMENT BENEFITS AS A PERCENT OF FINAL PAY. This variable is the expected retirement benefits in the first year of eligibility expressed as a percent of their projected wages in their final year of work. All missing values were imputed for households where the head or spouse is over age 39. Otherwise, these variables are the same as B4917 or B5017. Imputations were made using the same regression as B4918 and B5018.

xxxxx. percentage times 10 (3 to 20,000) -6. none, covered under plan but don't expect benefits (51/23 cases) -7. answer above (B4918 or B5018) is a lump sum benefit in dollars (19/8 cases) -8. DK (9/4 cases) -9. NA (429/184 cases) 0. INAP (2576/3576 cases) B4920 (H) B5020 (S) PRESENT VALUE OF PENSION BENEFITS FROM MAIN PLAN. This variable is measured assuming an annual (or lump sum) pension benefit as given above, starting in the year of first benefits. Benefits for that and each succeeding year are adjusted for the probability of death and are discounted back to 1983. Sex-based Social Security mortality tables are used to compute the probabilities of death (standard for each year). These are capped at 109 years. Spousal survival benefits are assumed to be opted for 75 percent the time and are randomly assigned when appropriate. Spousal survival benefits are also adjusted for death probabilities. Benefits are discounted at the 1983 long-term U.S. government bond rate of 10.85 percent. The variable is currently calculated only for observations where head or spouse is over age 39. xxxxxxx. dollars (493 to 918,860) -9. not calculated (713/270 cases) 0. zero or INAP (2576/3576 cases) Contributions to Main Retirement Plans B4921 (H) B5021 (S) PERCENTAGE OF PAY EMPLOYEE REQUIRED TO CONTRIBUTE IN 1982. All missing values were imputed. Imputations were made using a regression of percent of pay with a random term added. Handled differently for first year employees. xxx. percentage times 10 (1 to 200) -6. none (1139/441 cases) 0. INAP (2576/3576 cases) question: R22a,R22b/S22a,S22b B4922 (H) B5022 (S) DOLLAR AMOUNT EMPLOYEE REQUIRED TO CONTRIBUTE IN 1982. All missing values were imputed using the same regression as above (B4921 or B5021). xxxxx. dollars (26 to 45,470) -6. none (1139/441 cases) 0. INAP (2576/3576 cases)

B4923 (H) B5023 (S)

PERCENTAGE OF PAY EMPLOYEE VOLUNTARILY CONTRIBUTED IN 1982. All missing values were imputed. Imputations were made using a regression of percent of pay with a random term added. First year employees were handled differently. xxxx. percentage times 10 (3 to 1,916) -6. none (1241/428 cases) 0. INAP (2576/3576 cases) question: R22c,R22d/S22c,S22d

B4924 (H) B5024 (S)

DOLLAR AMOUNT EMPLOYEE VOLUNTARILY CONTRIBUTED IN 1982. All missing values were imputed using the same regression as above (B4923 or B5023). xxxxxx. dollars (36 to 400,000) -6. none (1241/428 cases) 0. INAP (2576/3576 cases)

B4925 (H) B5025 (S)

PERCENTAGE OF PAY EMPLOYER CONTRIBUTED IN 1982. Answered only for defined contribution or mixed plans. All missing values were imputed. Imputations were made using a regression of percent of pay with a random term added. First year employees were handled differently. xxx. percentage times 10 (6 to 350) -6. none (48/19 cases) 0. INAP, no defined contribution plan (3630/3940 cases) question: R23a,R23b/S23a,S23b

B4926 (H) B5026 (S)

DOLLAR AMOUNT EMPLOYER CONTRIBUTED IN 1982. All missing values were imputed using the same regression as above (B4925 or B5025). xxxxxx. dollars (12 to 210,000) -6. none (48/19 cases) 0. INAP, no defined contribution plan (3630/3940 cases)

B4927 (H) B5027 (S)

PRESENT VALUE OF ALL FUTURE WAGES FOR CURRENT JOB. This variable is computed using the same wage growth assumptions as used to compute the wage in the final year of the job. The present value of future wages is computed by discounting the wages of each year back to 1983 using the 1983 long-term U.S. Government bond rate of 10.85 percent. This variable is computed for all observations where the age of retirement (B4553 or B4653) is given or has been imputed. xxxxxxxx. dollars (43 to 14,861,994) -9. NA, not calculated (223/xxx cases)

0. INAP (1232/2779 cases) B4928 (H) B5028 (S) PRESENT VALUE OF PENSION CONTRIBUTIONS (LIABILITIES). This variable is computed by multiplying the present value of future wages for the current job, times the sum of the employer and employee contribution rates. If neither contribution rate is known, or for defined benefit plans, an average contribution rate of 5.5 percent is used. This variable is computed for all observations where the age of retirement (B4553 or B4653) is given or has been imputed. xxxxxx. dollars (xxx to xxxxxx) -9. NA, not calculated (xxx/xxx cases) 0. none, INAP Amount in Defined Contribution Account B4929 (H) B5029 (S) DOLLAR AMOUNT IN ACCOUNT. The gross amount in the account, including taxable and non-taxable portions. Given only for plans with defined contribution features (B4904 equals 3 or 5 or B5004 equals 3 or 5). All missing values were imputed. Imputations were made using regression of log-value with a random term added. First year employees were handled differently. xxxxxxx. dollars (50 to 2,000,000) 0. INAP, no defined contribution account (3630/3940 cases) question: R23c/S23c B4930 (H) B5030 (S) DOLLAR AMOUNT WITHDRAWABLE NOW. The amount in the account that could be withdrawn if the employee left the firm now, including taxable and non-taxable portions. All missing values were imputed. Imputations were made using a regression of percent-withdrawable with a random term added. xxxxxxx. -6. -7. 0. dollars (10 to 2,000,000) none withdrawable now (90/27 cases) other, non-numeric, response (4/1 cases) INAP (3630/3940 cases)

question: R23d/S23d B4931 (H) B5031 (S) PERCENTAGE OF ACCOUNT WITHDRAWABLE NOW. The percentage of the account that could be withdrawn if the employee left the firm now, including taxable and non-taxable portions. Computed from the amount in the account and the portion withdrawable now. All missing values were imputed using the same regression as B4930 or B5030.

xxxx. -6. -7. 0.

percentage times 10 (3 to 1,000) none withdrawable now (90/27 cases) other, non-numeric, response (4/1 cases) INAP (3630/3940 cases)

question: R23d/S23d THRIFT-TYPE PLANS FOR CURRENT JOB (H) Household head (husband, if married) (S) Spouse (wife) If respondent and/or their spouse was working, information was sought on thrift, profit sharing, or other tax-deferred compensation or savings plans that respondent (or their spouse) participated in at their firm. Primary pension plans are excluded (listed in the previous section). Employer IRA or Keogh plans were moved to the Financial Assets Section. Thrift-Type Plan Code B4941 (H) B5041 (S) PARTICIPATION IN TAX-DEFERRED COMPENSATION OR SAVINGS PLANS. 2. thrift plan, savings plan, savings investment plan (131/29 cases) 3. profit sharing plan (exception NFS) (160/50 cases) 4. stock option plan, ESOP, stock ownership, stock savings plan (39/8 cases) 5. annuity plan (23/9 cases) 7. tax sheltered, tax deferred, deferred compensation plan not otherwise codable (22/11 cases) 8. company name given, type of account NA (11/5 cases) 9. other type (14/6 cases) -8. DK (59/14 cases) -9. NA (15/3 cases) 0. INAP, no thrift account (3629/3968 cases) question: R24,R24a/S24,S24a B3306 TOTAL THRIFT-TYPE PENSION ACCOUNT ASSETS. The sum of current withdrawable amounts in thrift-type accounts for head and spouse (B4947 + B5047). All missing values were imputed. xxxxxxx. dollars (1 to 1,600,000) 0. none Contributions to Thrift-Type Plans B4942 (H) B5042 (S) PERCENTAGE OF PAY EMPLOYEE CONTRIBUTED IN 1982. All missing values were imputed. Imputations were made using a regression of percent of pay with a random term added. First year employees were handled differently.

xxx. percentage times 10 (1 to 400) -6. none (181/58 cases) 0. INAP (3629/3968 cases) question: R24b,R24c/S24b,S24c B4943 (H) B5043 (S) DOLLAR AMOUNT EMPLOYEE CONTRIBUTED IN 1982. All missing values were imputed using the same regression as above (B4942 or B5042). xxxxxx. dollars (48 to 100,000) -6. none (181/58 cases) 0. INAP (3629/3968 cases) B4944 (H) B5044 (S) PERCENTAGE OF PAY EMPLOYER CONTRIBUTED IN 1982. All missing values were imputed. Imputations were made using a regression of percent of pay with a random term added. First year employees were handled differently. xxxx. percentage times 10 (1 to 1,429) -6. none (113/40 cases) 0. INAP (3629/3968 cases) question: R24d,R24e/S24d,S24e B4945 (H) B5045 (S) DOLLAR AMOUNT EMPLOYER CONTRIBUTED IN 1982. All missing values were imputed using the same regression as above (B4944 or B5044). xxxxxx. dollars (20 to 210,000) -6. none (113/40 cases) 0. INAP (3629/3968 cases) Amount in Thrift-Type Account B4946 (H) B5046 (S) DOLLAR AMOUNT IN THRIFT-TYPE ACCOUNT. The gross amount in the account including taxable and non-taxable portions. All missing values were imputed. Imputations were made using a regression of logvalue with a random term added. First year employees were handled differently. xxxxxxx. dollars (5 to 1,600,000) 0. INAP (3629/3968 cases) question: R23f/S23f B4947 (H) B5047 (S) DOLLAR AMOUNT WITHDRAWABLE FROM THRIFT-TYPE ACCOUNT NOW. The amount in the account that could be withdrawn if the employee left the firm now, including taxable and non-taxable portions. All missing values were imputed.

Imputations were made using a regression of percent-withdrawable with a random term added. First year employees were handled differently. xxxxxxx. dollars (5 to 1,600,000) -6. none (40/10 cases) 0. INAP (3629/3968 cases) question: R23g/S23g B4948 (H) B5048 (S) PERCENTAGE OF THRIFT-TYPE ACCOUNT WITHDRAWABLE NOW. The percentage of the account that could be withdrawn if the employee left the firm now, including taxable and non-taxable portions. Computed from the amount in the account and the portion withdrawable now. All missing values were imputed using the same regression as above (B4947 or B5047). xxxx. percentage times 10 (10 to 1000) -6. none (40/10 cases) 0. INAP (3629/3968 cases) PENSIONS FROM PAST JOBS (A) Job before retired/disabled or last paid job if unemployed, student, or housewife (B) Longest prior job (C) Other job from which expect to or now receive pension (H) Household head (husband, if married) (S) Spouse (wife) For each past job spouse, respondent was receiving or expecting here for all jobs with for which data was recorded for either head or asked whether the household was currently a pension from the job. Data are given a positive response. Past Job Pension Code B4949 (H) B5049 (S) PAST JOB PENSION CODE. 1. currently receiving pension benefits from at least one past job (449/69 cases) 2. currently receiving pension benefits from at least one past job, and expect more in future from another (1/1 cases) 3. not currently receiving pension benefits from a past job but expect to in future (231/67 cases) 0. no pension from any past job, INAP (3422/2498 cases)

B3307

NET PRESENT VALUE OF PENSIONS FROM PAST JOBS. The sum of the net present value of all pensions for past jobs for both head and spouse listed in this section (B4968 + B4978 + B4988 + B5068 + B5078 + B5088). No missing values. xxxxxxx. dollars (xx to xxxxxxx)

0. none B3308 NET PRESENT VALUE OF PENSIONS FROM OTHER SOURCES. The sum of the present value of pensions (private or Social Security) determined to be currently received by the household, but not attributable to the head or spouse current or listed past job, or Social Security. No missing values. xxxxxxx. dollars (xx to xxxxxxx) 0. none Pensions From Other Sources B4950 ESTIMATE OF TYPE OF OTHER PENSION. A comparison of the reported private and Social Security pensions currently received by the household head or spouse with the pension item in the Income Section indicated that in some cases there were likely to be additional household pensions. These could be pensions due other household members or pensions received by head or spouse, but not from their own jobs (such as widows receiving survivors benefits). This constructed variable and B4951 - B4954 which follow are educated guesses on the likely amounts of these additional pensions, and their source. No missing values. 1. 2. 3. 4. 5. 6. 7. 8. 0. B4951 other pension for head from past job (27 cases) survivor benefits received by widow or widower (210 cases) military disability payment received by head (27 cases) other pension for spouse from past job (44 cases) head and spouse joint pension or annuity (3 cases) pension of other household member (41 cases) NA source, included in total (B3308) (6 cases) NA source, not included in total (B3308) (7 cases) INAP, no other pension source (3738 cases)

SEX OF RECIPIANT. If the pension is attributable to the head (B4950 = 1, 2, 5, 7, or 8) this is the sex of the head. If attributable the spouse (B4950 = 4) it is the sex of the spouse. If attributable to other household members (B4950 = 6), this sex of the individual (if one person) or the male (such elderly parents). No missing values. 1. male (79 cases) 2. female (286 cases) 0. INAP (3738 cases)

3, to is the as

B4952

AGE OF RECIPIENT. If there is more than one recipient this is the age of the recipient referred to in B4951. xx. years (31 to 91) 0. INAP (3738 cases)

B4953

AGE OF SECOND RECIPIENT. If there is more than one recipient (B4950 = 5 and sometimes 6, 7, or 8), this is the age of the second recipient. The sex of this recipient is always female. xx. years (47 to 79) 0. INAP, no second recipient (4082 cases)

B4954

AMOUNT OF OTHER PENSIONS. An estimate of the amount received by the household in other pensions in 1982. xxxxxx. dollars (134 to 200,000) 0. INAP (3738 cases) Current Pension Benefits From Past Jobs

B4961 B4971 B4981 B5061 B5071 B5081

(A) (B) (C) (A) (B) (C)

(H) (H) (H) (S) (S) (S)

NUMBER OF YEARS RECEIVING BENEFITS. Answered only if currently receiving benefits. values imputed. xx. years (1 to 39) 0. INAP, not currently receiving benefits (3730/4007/4078/4043/4092/4103 cases)

All missing

question: R41,R41a/S41,S41a B4962 B4972 B4982 B5062 B5072 B5082 (A) (B) (C) (A) (B) (C) (H) AMOUNT RECEIVED IN 1982. (H) Answered only if currently receiving benefits. All missing (H) values imputed. Imputations were made using a variety of (S) means, including income data and a log-value regression with a (S) random term added. (S) xxxxxx. dollars (130 to 110,000) -6. none, started in 1983 (19/1/0/2/0/0 cases) 0. INAP (3730/4007/4078/4043/4092/4103 cases) question: R41b/S41b Timing of the Start of Pension Benefits/Benefit Amount B4963 B4973 B4983 B5063 B5073 B5083 (A) (B) (C) (A) (B) (C) (H) (H) (H) (S) (S) (S) NUMBER OF YEARS UNTIL BENEFITS START. Answered only if not currently receiving benefits, but will in the future. All missing values were imputed. xx. years (1 to 42) 0. INAP, currently receiving or never receive (4060/3923/4086/4078/4062/4099 cases)

question: R42,R43/S42,S43 B4964 (A) (H) AGE AT WHICH BENEFITS BEGAN/AGE AT WHICH BENEFITS WILL

B4974 B4984 B5064 B5074 B5084

(B) (C) (A) (B) (C)

(H) (H) (S) (S) (S) B4963

BEGIN. Answered if currently receiving or expect benefits. Age is by birth date (B4503 or B4603). The variable is computed by subtracting the number of years receiving from the current age. If benefits have not begun, it is computed by adding etc. to head or spouse's current age. No missing values.

xx. years (19 to 85) 0. INAP, never receive benefits from job (3687/3827/4061/4018/4051/4099 cases) B4965 B4975 B4985 B5065 B5075 B5085 (A) (B) (C) (A) (B) (C) (H) REPORTED AMOUNT EXPECTED IN 1983/FIRST YEAR OF (H) ELIGIBILITY. (H) If currently receiving benefits this is the amount expected (S) in 1983 (generally what was received in 1982 unless started (S) in midyear). If future benefits are expected it is the (S) amount reported as expected in the first year of eligibility. All missing values were imputed for those currently receiving benefits as above (see B4962 etc.) xxxxxx. -7. -8. -9. 0. dollars (45 to 170,000) other non-numeric amount (0/3/0/0/0/0 cases) DK (35/89/7/12/25/3 cases) NA (2/9/1/2/2/0 cases) INAP (3687/3827/4061/4018/4051/4099 cases)

question: R44/S44 B4966 B4976 B4986 B5066 B5076 B5086 (A) (B) (C) (A) (B) (C) (H) AMOUNT EXPECTED IN 1983/FIRST YEAR OF ELIGIBILITY. (H) This is identical to the variable above (B4965 etc.) except (H) that all missing values are imputed. Imputations were made (S) using a regression of log-value adjusted to real terms with a (S) random term added. (S) xxxxxx. dollars (45 to 182,323) 0. INAP (3687/3827/4061/4018/4051/4099 cases) (H) AMOUNT EXPECTED/RECEIVED IN FIRST YEAR IN 1983 DOLLARS. (H) This is identical to the variable above (B4966 etc.) except (H) that benefits are indexed to April 1983 dollars for pensions (S) that have not started, by assuming an inflation rate of 4.0%. (S) For pensions already being received, the nominal value of the (S) pension is assumed to be fixed, and is indexed to the year it started (see B4961 etc.) by the actual price changes observed as measured by the CPI. No missing values. xxxxxx. 1983 dollars (xx to xxxxxx) -7. amount given in the variable above (B4966 etc. is a lump sum given only in the first year (or 1982 if B4962 is greater than zero)) (x/x/x/x/x/x cases) 0. INAP (3687/3827/4061/4018/4051/4099 cases)

B4967 B4977 B4987 B5067 B5077 B5087

(A) (B) (C) (A) (B) (C)

B4968 B4978 B4988 B5068 B5078 B5088

(A) (B) (C) (A) (B) (C)

(H) PRESENT VALUE OF PENSION BENEFITS FROM JOB. (H) This is measured assuming an annual pension benefit as given (H) starting in the year of first benefits (or 1983). Benefits (S) for that and each succeeding year (adjusted for probability of (S) receipt) are discounted back to 1983. Sex-based Social (S) Security mortality tables are used to compute the probabilities of dying each year and/or living to receive any benefits. These are capped at 109 years. Spousal survival benefits are assumed to be opted for 75 percent of the time and are randomly assigned when appropriate. Spouse mortality tables are also used. Benefits are discounted at the 1983 long-term U.S. Government bond rate of 10.85 percent. Calculated for all relevant observations. xxxxxx. dollars (xx to xxxxxx) 0. INAP (3687/3827/4061/4018/4051/4099 cases) Plan Characteristics

B4969 B4979 B4989 B5069 B5079 B5089

(A) (B) (C) (A) (B) (C)

(H) TYPE OF FORMULA USED TO DETERMINE BENEFITS. (H) Answered only if expected but not currently receiving benefits (H) (B4963 etc. > 0). No imputations. (S) (S) 1. defined benefit (21/90/8/12/18/2 cases) (S) 2. defined contribution (8/16/6/4/5/0 cases) 3. elements of both (8/34/1/5/10/0 cases) -8. DK (5/37/1/2/7/2 cases) -9. NA (1/3/1/2/1/0 cases) 0. INAP or currently receiving benefits (4060/3923/4086/4078/4062/4099 cases) question: R45/S45

B4970 B4980 B4990 B5070 B5080 B5090

(A) (B) (C) (A) (B) (C)

(H) MULTI-EMPLOYER PLAN? (H) Other employers on plan. Answered for all currently receiving (H) benefits or expecting them in the future (B4966 etc. > 0). No (S) imputations. (S) (S) 1. yes (108/98/14/26/29/0 cases) 5. no (225/132/23/38/16/4 cases) -8. DK (49/32/1/11/6/0 cases) -9. NA (34/14/4/10/1/0 cases) 0. INAP (3687/3827/4061/4018/4051/4099 cases) question: R46/S46 SOCIAL SECURITY DATA (H) Household head (husband, if married) (S) Spouse (wife) Total Social Security Value

B3314

NET PRESENT VALUE OF SOCIAL SECURITY BENEFITS. The sum of the gross present value of Social Security benefits

for head and spouse minus the present value of wage contribution liabilities (B3315 - B3316). Social Security formula and current receipts were used for calculations. No missing values for households where head or spouse is over age 39. xxxxxxx. dollars (xx to xxxxxxx) 0. none (xxxx cases) B3315 GROSS PRESENT VALUE OF SOCIAL SECURITY BENEFITS. The sum of the gross present value of Social Security benefits for head and spouse (B5120 + B5124 + B5220 + B5224). Social Security formulas and current receipts were used for calculations. No missing values for households where head or spouse is over age 39. xxxxxxx. dollars (xx to xxxxxxx) 0. none (xxxx cases) B3316 PRESENT VALUE OF SOCIAL SECURITY TAX LIABILITY. The sum of the gross present value of future Social Security tax liabilities for head and spouse (B5116 + B5216). Social Security formulas and current receipts were used for calculations. No missing values for households where head or spouse is over age 39. xxxxxx. dollars (xx to xxxxxx) 0. none (xxxx cases) Current Social Security Benefit Receipts B5101 (H) B5201 (S) KIND OF SOCIAL SECURITY BENEFITS. Answered only if currently receiving Social Security benefits on the basis of respondent (or spouse's) own earnings. All missing values were imputed. 1. 2. 3. 7. 0. retirement (601/178 cases) disability (84/14 cases) both retirement and disability (27/2 cases) other kind (1/1 cases) INAP, not currently receiving benefits (3390/3908 cases)

question: R56,R56a/S56,S56a B5102 (H) B5202 (S) NUMBER OF YEARS RECEIVING SOCIAL SECURITY BENEFITS. Answered only if currently receiving Social Security benefits on the basis of own earnings. All missing values were imputed. xx. years (1 to 37) 0. INAP (3390/3908 cases) question: R56b/S56b

B5103 (H) B5203 (S)

AMOUNT RECEIVED IN 1982. Asked only of respondents currently receiving benefits. All missing values were imputed. Imputations were made using income data and a regression for log-value with a random term added. xxxxx. dollars (309 to 17,746) -6. none, started benefits in 1983 (37/6 cases) 0. INAP (3390/3908 cases) question: R56c/S56c Start of Social Security Payments

B5104 (H) B5204 (S)

REPORTED AGE SOCIAL SECURITY BENEFITS DID/EXPECTED TO START. Answered for those who currently or expect to receive benefits, as reported by respondent. All missing values were imputed for those currently receiving benefits (B5103 or B5203 not equal 0). xx. -8. -9. 0. years (14 to 96) DK (186/95 cases) NA (90/40 cases) INAP, no benefits ever (532/2396 cases)

question: R57a/S57a B5105 (H) B5205 (S) AGE SOCIAL SECURITY BENEFITS DID/EXPECTED TO START. Answered for those who currently or expect to receive benefits. All missing values were imputed for those currently receiving benefits and all observations where head or spouse is over age 39. xx. -8. -9. 0. B5106 (H) B5206 (S) years (14 to 82) DK (8/12 cases) NA (9/6 cases) INAP (495/2377 cases)

NUMBER OF YEARS UNTIL THE START OF SOCIAL SECURITY BENEFITS. Answered only for those who expect benefits on their own earnings in the future. Computed from birth date age and the reported age benefits expected to start. All missing values were imputed for observations where head or spouse is over age 39. xx. -8. -9. 0. years (1 to 50) DK (8/12 cases) NA (9/6 cases) already receiving benefits, INAP (1207/2572 cases) Expectations of Social Security Benefits

B5107 (H) B5207 (S)

CODE FOR REPORTED FIRST YEAR BENEFITS. Reported response. Code for the variable which follows (B5108 or B5208). The following variable is the expected Social Security benefit in 1983 if currently receiving benefits. Otherwise it is expected benefits in the first year of eligibility. 1. benefit below given in nominal dollars. Always used for current receivers. For current receivers, the value is 1.037 times 1982 benefits (because of 7.4 percent benefit rise in 6/82), except for those starting in 1982 and 1983 which are adjusted on the basis of months received (1342/449 cases) 2. benefit below given as a percent of final pay (82/34 cases) 3. maximum benefit assumed (62/7 cases) 4. minimum benefit assumed (14/10 cases) 6. benefit will be zero (Social Security will not exist) (32/13 cases) 7. other response (1/0 cases) -8. DK (1992/1172 cases) -9. NA (46/22 cases) 0. INAP (532/2396 cases) question: R57b/S57b

B5108 (H) B5208 (S)

REPORTED SOCIAL SECURITY BENEFIT IN 1983/1ST YEAR ELIGIBLE. Reported response. The variable is either not given, a dollar amount, or a percentage according to the code variable above. missing values were imputed for all those currently receiving benefits as in B5103 or B5203. xxxxxx. dollars (answered if coded 1 in B5107 or B5207) xxxx. percentage times ten (answered if coded 2 in B5107 or B5207) 0. applicable for all other codes above, INAP (532/2396 cases) question: R57b/S57b

B5109 (H) B5209 (S)

CODE FOR FIRST YEAR BENEFITS. Code for the variable which follows (B5110 or B5210). The following variable is the expected Social Security benefit in 1983 if currently receiving benefits. Otherwise it is expected benefits in the first year of eligibility. This variable is the same as B5107 or B5207 except for imputations. Unlike many pension variables, imputations were made for all households including those where both head or spouse are under 40. If values were missing, code 2 was assigned to B5109 or B5209 and imputations were made for Social Security benefits as a percentage of final pay in B5110 or B5210. Further adjustments were made for some persons expecting to receive Social Security on their own account who were adjudged ineligible and vice-versa.

1. benefit below given in nominal dollars. Always used for current receivers. For current receivers, the value is 1.037 times 1982 benefits (because of 7.4% benefit rise in 6/82), except for those starting in 1982 and 1983 which are adjusted on the basis of months received. Also used for all previous missing values (1338/442 cases) 2. benefit below given as a percent of final pay. Used for all imputations (82/33 cases) 3. maximum benefit assumed (62/7 cases) 4. minimum benefit assumed (14/9 cases) 6. benefit will be zero (Social Security will not exist) (32/13 cases) 7. other response (1/0 cases) 0. INAP (xxx/xxx cases) B5110 (H) B5210 (S) SOCIAL SECURITY BENEFIT IN 1983/1ST YEAR ELIGIBLE. The variable is either not given, a dollar amount, or a percentage according to the code of B5109 or B5209 above. This variable is identical to B5108 or B5208 except when B5107 or B5207 are missing values. In these instances Social Security as a percent of final pay was imputed using a regression with a random term added. In addition, in some cases persons expecting to receive Social Security on their own account were adjudged ineligible and vice-versa. xxxxxx. dollars (answered if coded 1 in B5109 or B5209) xxxx. percentage times ten (answered if coded 2 in B5109 or B5209. Used for all imputations.) 0. applicable for all other codes above, INAP (494/2378 cases) B5111 (H) B5211 (S) PRESENT VALUE OF SOCIAL SECURITY BENEFITS FROM EXPECTATIONS. This is measured assuming an annual benefit as given in B5110 or B5210 starting in the year of first benefits (or 1983). Benefits for that and each succeeding year (adjusted for probability of receipt) are discounted back to 1983. Sex-based Social Security mortality tables are used to compute the probabilities of dying each year and/or living to receive any benefits. These are capped at 109 years. Spousal benefits are also assumed at 50 percent of the primary benefit if a spouse is present and does not expected Social Security benefits on their own earnings. Spouse mortality tables are also used for these calculations. Benefits are discounted at the 1983 long-term U.S. Government bond rate of 10.85 percent. No missing values. xxxxxx. dollars (xx to xxxxxxx) -6. nothing (32/13) 0. INAP (495/2378 cases)

Number of Years Working Social Security Jobs B5112 (H) B5212 (S) TOTAL NUMBER OF YEARS WORKING SOCIAL SECURITY JOBS. The total number of years on Social Security jobs to current date. Not answered if currently receiving social security benefits. All missing values were imputed. xx. years (1 to 54) -6. none (279/394 cases) 0. INAP, currently receiving Social Security benefits (713/1663 cases) question: R57c/S57c B5113 (H) B5213 (S) NUMBER OF YEARS ON SOCIAL SECURITY JOBS COUNTED LISTED JOBS. Computed estimate of coverage was used, summing over current and the three possible past jobs. No missing values. xx. years (1 to 43) -6. none (268/463 cases) 0. INAP (0/1468 cases) B5114 (H) B5214 (S) ESTIMATE OF FUTURE YEARS ON SOCIAL SECURITY JOBS. Computed from retirement years indicated. No missing values. xx. years (1 to 40) -6. none (1659/1599 cases) 0. INAP (0/1468 cases) B5115 (H) B5215 (S) NUMBER OF YEARS ON NON-SOCIAL SECURITY JOBS COUNTED IN JOBS. Computed estimate of coverage was used, summing over current and the three possible past jobs. No missing values. xx. years (1 to 44) -6. none (3046/2080 cases) 0. INAP (0/1468 cases) Computed Estimates of Social Security Benefits Data on number of years on social security jobs, wage rates for each known job, estimates of retirement dates, and dates of starting benefits were used as inputs to Social Security formulas to compute benefits. These have currently been computed for all observations where head or spouse is over age 39. B5116 (H) B5216 (S) PRESENT VALUE OF THE SOCIAL SECURITY TAX LIABILITY. A calculated value based on current job wage. All persons were assumed to work continuously until their stated age of fulltime retirement, and then parttime until their stated age of final retirement. All persons were assumed to retire no later than 72 or age + 1 if currently over 72. Persons not currently working and

over 50 were assumed not to work again. Wages were calculated by projecting current wages by the same method used to calculate final wages. Wage growth was assumed to have three components: (1) occupation specific (adjusted for age) taken from the slopes in the CPS log-wage spline regressions; (2) a Social Security plan II-B assumption of 1.5 percent annual economy wide real wage growth; and (3) a Social Security plan II-B assumption of 4.0 percent inflation. Parttime years (if currently working fulltime) were assigned wages equal to 1/2 the projected fulltime wages or the maximum amount allowable for full benefit receipt allowed by Social Security, whichever was smaller. The Social Security tax liability was computed used legislatively planned tax rates (employer and employee) and maximum coverage. No missing values. xxxxx. dollars (120 to 77,849) 0. none or INAP (1375/2886 cases) B5117 (H) B5217 (S) SOCIAL SECURITY AIME. Average Indexed Monthly Earnings used as the basis of computing the Social Security benefit base. The variable is the average covered Social Security earnings per month (including zeros) for all years from 1951 or age 22 (which ever is later) to age 60. These are indexed by a social security wage index to the year respondent is 60. Years after 60 can be substituted at nominal value. The five lowest years are dropped before an average AIME is computed. These procedures are mimicked using the SCF data on job earnings and future retirement plans to estimate an AIME value. Past and current job wages are projected back (and forward) to estimate earnings for each known year of work. These projections assume within-occupation real wage adjustments as taken from the CPS regressions (see past/current job), and economy-wide productivity growth and inflation as as occurred or is projected to occur under the Social Security plan II-B. Other years of unknown jobs are filled in with terms from the closest known job to fill in the total number of Social Security covered years. Wages are then capped at the actual or projected social security maximum and minimum coverage amounts. The AIME was then computed using actual or projected Social Security wage indices. The variable is currently estimated for all persons projected to have future Social Security benefits based on their own earnings for observations where head or spouse is over age 39 who are not currently receiving benefits. xxxxx. dollars (12 to 12,599) -9. NA, not computed (1338/646 cases) 0. currently receiving benefits, INAP (1207/2574 cases)

B5118 (H) B5218 (S)

SOCIAL SECURITY PIA. Primary Insurance Amount on an annual basis. The PIA is the basis of the calculation of Social Security benefits. It is computed from the AIME. In 1982 the monthly PIA was computed as 90 percent of the first $254 of AIME plus 32 percent of the next $1274 plus 15 percent of the amount above. Calculations here take account of legislatively planned changes in this formula. The PIA is currently computed for all non-receivers projected to have future Social Security benefits based on their own earnings for observations where head or spouse is over age 39. xxxxx. dollars (126 to 62,097) -9. NA, not computed (1338/646 cases) 0. currently receiving benefits, INAP (1207/2574 cases)

B5119 (H) B5219 (S)

COMPUTED SOCIAL SECURITY BENEFITS IN 1983/1ST YEAR ELIGIBLE. This variable is the 1982 benefits as reported (or imputed) adjusted to 1983 levels (B5110/B5210) for those currently receiving benefits. If it appeared that the recipiant was receiving spousal benefits which were included in B5110 or B5210 then this variable represents only that share of current benefits calculated to accrue to the primary recipiant. The remaining portion of B5110/B5210 was placed in B5223/B5123. An adjustment was also made to this variable if it appeared that the recipiant's benefits had been reduced because of work. In this case (only about 20 cases were affected) B5119/B5219 reflects the full benefit. For those not currently receiving benefits but expecting them in the future based on their own earnings B5119/B5219 is computed from the PIA and stated age of drawing first benefits according to Social Security formulas. It is given in nominal dollars. Currently computed for all observations currently receiving benefits and for observations where head or spouse is over age 39 and future benefits are expected. xxxxx. dollars (101 to 69,549) -9. NA, not computed (1338/646 cases) 0. currently receiving benefits, INAP (495/2379 cases)

B5120 (H) B5220 (S)

COMPUTED PRESENT VALUE OF OWN SOCIAL SECURITY BENEFITS. This is measured assuming an annual Social Security benefit as given above starting in the year of first benefits (or current). Benefits for that and each succeeding year (adjusted for the probability of receipt) are discounted back to 1983. Sex-based Social Security mortality tables are used to compute the probabilities of dying each year and/or living to receive any benefits. These are capped at 109 years. Benefits are assumed to grow each year at the Social Security

plan II-B inflation assumption of 4 percent. Benefits are discounted at the 1983 long-term U.S. government bond rate of 10.85 percent. Currently computed for all persons projected to receive benefits based on their own earnings for observations where head or spouse is over age 39 and all other observations currently receiving benefits. xxxxxx. dollars (463 to 194,701) -9. NA, not computed (1337/2379 cases) 0. INAP (494/2379 cases) B5121 (H) B5221 (S) AGE AT WHICH SPOUSAL BENEFITS FIRST DRAWN. This is a calculated variable. It is an estimate of the age at which the individual started receiving Social Security Benefits (or will receive such benefits) on the basis of their spouse's earnings. This variable will be zero if no spousal are expected (such as when the individual's own benefits are larger than their spousal benefits). This variable is currently computed for all persons projected to receive benefits for observations where head or spouse is over age 39 and all other observations currently receiving benefits. xx. age (45 to 87) -9. NA, not computed (21/22 cases) 0. no spousal benefits, INAP (2477/1657 cases) B5122 (H) B5222 (S) AGE AT WHICH WIDOWS BENEFITS FIRST COULD BE DRAWN. This is a calculated variable. It is an estimate of the age at which the individual could start to receive Social Security widows benefits upon the death of their spouse. This variable will be zero if widows benefits could never be drawn. This variable is currently computed for all persons projected to receive benefits for observations where head or spouse is over age 39 and all other observations currently receiving benefits. xx. age (14 to 74) -9. NA, not computed (7/16 cases) 0. no widow benefits, INAP (2378/1635 cases) B5123 (H) B5223 (S) SPOUSAL BENEFIT IN FIRST YEAR ELIGIBLE. This is a calculated variable. It is an estimate of the benefit that the individual would receive in the first year he/she is eligible for spousal benefits (or 1983 if currently receiving benefits). For current recipiants this variable plus B5119/B5219 of their spouse will generally equal B5110/B5210 of their spouse. This variable will be zero if spousal benefits could never be drawn. This variable is currently computed for all persons projected to receive benefits for observations where head or spouse is over age 39 and all other observations currently receiving benefits.

xxxx. dollars (1 to 62,097) -6. none, eligible for spousal benefits but calculate that none would be received because own benefits are larger (643/204 cases) -9. NA, not computed (645/814 cases) 0. no spousal benefits, INAP (2630/1787) B5124 (H) B5224 (S) COMPUTED PRESENT VALUE OF SPOUSAL SOCIAL SECURITY BENEFITS. Computed using the same form as the present value of primary benefits, adjusted for both mortality tables. This variable represents the spousal and widowed benefits received by the individual (thus that for the head is based on the earnings of the spouse). Also included are benefits currently being drawn (as given in B5123/B5223) and deemed to be current spousal benefits. This variable is currently computed for all persons projected to receive benefits for observations where head or spouse is over age 39 and all other observations currently receiving benefits. xxxxxx. dollars (15 to 182,738) -9. NA, not computed (645/814 cases) 0. none, INAP (3186/1786 cases) USE OF FINANCIAL SERVICES Main Checking Account Characteristics/Access B3403 DOLLAR AMOUNT IN MAIN CHECKING ACCOUNT. The amount in the account self-defined as the main checking account, i.e. the one with the most checks written on it. All missing values were imputed. xxxxxx. dollars (4 to 450,000) 0. INAP, no checking accounts (806 cases) question: K4 B3404 TYPE OF FINANCIAL INSTITUTION MAIN CHECKING ACCOUNT LOCATED. No missing values. 1. commercial bank (2744 cases) 2. savings and loan association or savings bank (395 cases) 3. credit union (146 cases) 6. brokerage company or money market mutual fund (11 cases) 97. other type (1 case) 0. INAP (806 cases) question: K3 B3405 TYPE OF MAIN CHECKING ACCOUNT.

No missing values. Accounts of less than $1500 in super NOWs were converted to regular NOWs. Similarly all regular checking accounts at S&Ls or credit unions were converted to NOWs. 1. 2. 3. 4. 7. 0. regular checking (2381 cases) NOW account or regular share draft (814 cases) super NOW, super share draft (79 cases) cash management, MMF, sweep (12 cases) other type (11 cases) INAP (806 cases)

question: K2 B5301 AUTOMATED TELLER MACHINE USAGE. The number of times household members access their main checking account with an automatic teller machine (ATM) during a typical year. Usage rates were given by respondents for different time periods but were converted to an annual basis. All missing values were imputed except if respondent did not know if he/she had a card. Imputations were done using conditional mean tables with randomization. xxx. -6. -7. -8. 0. number (1 to 520) none, but he/she can access the account with an ATM (797 cases) other, non-numeric, answer (2 cases) none, don't know if he/she can access account with ATM (106 cases) INAP, no checking accounts or cannot access account with an ATM (2507 cases)

question: K5/K5a B5302 NON-ATM BANK ACCESS. The number of times household members physically visit a branch or drive-in or walk-up window of the institution where they have their main checking account during a typical year. Excludes any ATM visits. Usage rates were given by respondents for different time periods but were converted to an annual basis. All missing values were imputed. Imputations were done using conditional mean tables with randomization. xxx. -6. -7. 0. number (1 to 360) none (233 cases) other, non-numeric, answer (1 cases) INAP, no checking accounts (806 cases)

question: K6/K6a Reasons for Choosing Institution for Main Checking (A) (B) (C) (D) (E) Convenient location of offices Being able to obtain many financial services at one place Automated teller machine Low (no) service charge or low (no) minimum balance requirement High interest rates

(F) Safety or absence of risk B5303 B5304 B5305 B5306 B5307 B5308 (A) (B) (C) (D) (E) (F) IMPORTANCE OF EACH REASON IN CHOOSING INSTITUTION FOR CHECKING. For each potential reason, respondent indicated the importance the reason played in choosing the institution. The answers given are those of the respondent, with no imputations. 1. very important (2161/1636/376/1678/1848/2394 cases) 2. somewhat important (793/924/401/912/731/523 cases) 3. not very important (226/523/756/371/378/184 cases) 4. not at all important (9/183/1731/298/298/155 cases) -8. DK (0/1/2/3/6/4 cases) -9. NA (27/30/31/35/36/37 cases) 0. INAP, no checking accounts (806 cases for each)

question: K30/K30a/K30b/K30c/K30d/K30e/K30f B5309 WHICH OF THE ABOVE REASONS IS THE MOST IMPORTANT. Respondent's choice of the most important reason for choosing the institution where he/she has their main checking account. Some respondents gave reasons other than those listed above. 1. convenient location of offices (1302 cases) 2. being able to obtain many financial services at one place (580 cases) 3. automated teller machine (50 cases) 4. low (no) service charge or low (no) minimum balance requirement (382 cases) 5. high interest rates (263 cases) 6. safety or absence of risk (572 cases) 11. hours, open Saturdays (1 case) 12. personal, friendly service (33 cases) 13. other reason (29 cases) -8. DK (9 cases) -9. NA (76 cases) 0. INAP, no checking accounts (806 cases) question: K30g Other Services Obtained From Main Checking Institution (A) Another checking account (B) IRA or keogh (C) Certificates of deposit (D) Money market or savings account (E) Credit card (F) Mortgage loan (G) Non-mortgage loan (H) Brokerage or trust account B5310 B5311 B5312 B5313 B5314 (A) (B) (C) (D) (E) DOES HOUSEHOLD OBTAIN SERVICE AT MAIN CHECKING INSTITUTION? For each service, respondent indicated whether or not he/she obtained the service at the institution where he/she had their main checking account. All missing values were imputed using

B5315 (F) B5316 (G) B5317 (H)

asset and liability information and conditional mean tables. 1. yes (485/268/411/1411/788/358/598/39 cases) 5. no (2812/3029/2886/1886/2509/2939/2699/3258 cases) 0. INAP, no checking accounts (806 cases for each)

question: K31/K31a/K31b/K31c/K31d/K31e/K31f/K31g/K31h B5318 B5319 B5320 B5321 B5322 B5323 B5324 B5325 (A) (B) (C) (D) (E) (F) (G) (H) DOES HOUSEHOLD OBTAIN SERVICE AT ANY INSTITUTION? For each service, it was calculated whether the household obtained the service at all (including the main checking institution). These questions are answered whether the household had a checking account or not. No missing values. 1. yes (1063/915/866/2788/1910/1775/2112/699 cases) 5. no (3040/3188/3237/1315/2193/2328/1991/3404 cases) Commercial Banks Regularly Used B5326 NUMBER OF COMMERCIAL BANKS HOUSEHOLD REGULARLY USE. Respondent's answer to the question. Excludes offices of the same institution. All missing values were imputed using conditional mean tables with randomization. 1. 2. 3. 4. 5. 6. 7. 8. 0. one (2137 cases) two (976 cases) three (244 cases) four (62 cases) five (26 cases) six (9 cases) seven (4 cases) eight (2 cases) none (643 cases)

question: K36a B5327 DOES HOUSEHOLD USE A COMMERCIAL BANK OUTSIDE AREA? Answered yes if the respondent or someone in their family have regular dealings with an institution (or branch) outside the area where he/she lives or works. All missing values were imputed. 1. yes (664 cases) 5. no (2796 cases) 0. INAP, do not regularly deal with any commercial banks (643 cases) question: K37a B5328 CALCULATED NUMBER OF MENTIONS OF COMMERCIAL BANK USAGE. This is the calculated number of different instances in the survey where a commercial bank was given as the source of a loan, line of credit, or mortgage, or the location of a trust account, savings, checking, IRA, or money market account for each household.

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 0.

one (1003 cases) two (873 cases) three (563 cases) four (349 cases) five (210 cases) six (141 cases) seven (71 cases) eight (33 cases) nine (28 cases) ten (14 cases) eleven (8 cases) twelve (2 cases) thirteen (2 cases) fourteen (2 cases) none (804 cases) Savings and Loans (Savings Banks) Regularly Used

B5329

NUMBER OF SAVINGS AND LOANS HOUSEHOLD REGULARLY USE. Respondent's answer to the question. Excludes offices of the same institution. All missing values were imputed using conditional mean tables with randomization. 1. 2. 3. 4. 5. 6. 7. 8. 35. 0. one (1487 cases) two (403 cases) three (101 cases) four (26 cases) five (12 cases) six (3 cases) seven (2 cases) eight (2 cases) thirty five (1 case) none (2066 cases)

question: K36b B5330 DOES HOUSEHOLD USE A SAVINGS AND LOAN OUTSIDE AREA? Answered yes if the respondent or someone in their family have regular dealings with a savings and loan (or branch) outside the area where he/she lives or works. All missing values were imputed. 1. yes (424 cases) 5. no (1613 cases) 0. INAP, do not regularly deal with any savings and loans (2066 cases) question: K37b B5331 CALCULATED NUMBER OF MENTIONS OF SAVINGS AND LOAN USAGE. This is the calculated number of different instances in the survey where a savings and loan was given as the source of a loan, line of credit, or mortgage, or the location of a trust account, savings, checking, IRA, or money market account for

each household. 1. 2. 3. 4. 5. 6. 7. 8. 9. 11. 12. 13. 0. one (780 cases) two (429 cases) three (217 cases) four (131 cases) five (67 cases) six (37 cases) seven (15 cases) eight (16 cases) nine (5 cases) eleven (3 cases) twelve (1 case) thirteen (1 case) none (2401 cases) Credit Union Membership B5332 CALCULATED NUMBER OF MENTIONS OF CREDIT UNION USAGE. This is the calculated number of different instances in the survey where a credit union was given as the source of a loan, line of credit, or mortgage, or the location of a trust account, savings, checking, IRA, or money market account for each household. 1. 2. 3. 4. 5. 6. 7. 8. 9. 11. 0. one (581 cases) two (207 cases) three (108 cases) four (68 cases) five (27 cases) six (8 cases) seven (6 cases) eight (1 case) nine (2 cases) eleven (1 case) none (3094 cases) Finance Companies Regularly Used B5333 NUMBER OF FINANCE COMPANIES HOUSEHOLD REGULARLY USES. Respondent's answer to the question. Excludes offices of the same institution. All missing values were imputed using conditional mean tables with randomization. 1. 2. 3. 4. 5. 21. 0. one (483 cases) two (87 cases) three (23 cases) four (7 cases) five (2 cases) twenty-one (1 case) none (3500 cases)

question: K36c B5334 DOES HOUSEHOLD USE A FINANCE COMPANY OUTSIDE AREA? Answered yes if the respondent or someone in their family have

regular dealings with a finance company (or branch) outside the area where he/she lives or works. All missing values were imputed. 1. yes (154 cases) 5. no (449 cases) 0. INAP, do not regularly deal with any finance company (3500 cases) question: K37c B5335 CALCULATED NUMBER OF MENTIONS OF FINANCE COMPANY USAGE. This is the calculated number of different instances in the survey where a finance company (or auto finance company) was given as the source of a loan, line of credit, or mortgage, or the location of a savings or IRA account for each household. 1. 2. 3. 4. 0. one (478 cases) two (77 cases) three (17 cases) four (2 cases) none (3529 cases) Brokerage Account Usage B5336 DOES HOUSEHOLD HAVE AN ACCOUNT AT A STOCK BROKERAGE? This variable asks specifically for accounts used for the purchase or sale of stocks. Excludes money market mutual fund accounts. All missing values were imputed. 1. yes (554 cases) 5. no (3549 cases) question: K21 B3469 NUMBER OF TIMES STOCKS PURCHASED/SOLD IN PAST YEAR. This variable is limited to purchases and sales of publicly traded stock using a broker. Only households with a brokerage account were asked the question. All missing values were imputed. Imputations using conditional mean tables with randomization. xx. number of occasions (1 to 95) -6. none, but do have a brokerage account (85 cases) 0. none, do not have a brokerage account (3549 cases) question: K21a B5337 NUMBER OF STOCK BROKERAGES HOUSEHOLD REGULARLY USES. Respondent's answer to the question. Asked only of those households owning stock. Excludes offices of the same institution. All missing values were imputed using conditional means tables with randomization. 1. one (340 cases)

2. 3. 4. 5. 6. 7. 8. 9. 10. 20. 0.

two (141 cases) three (45 cases) four (6 cases) five (9 cases) six (8 cases) seven (1 case) eight (1 case) nine (1 case) ten (1 case) twenty (1 case) none (3549 cases)

question: K21d B5338 DOES HOUSEHOLD USE A STOCK BROKERAGE OUTSIDE AREA? Answered yes if the respondent or someone in their family have regular dealings with a stock brokerage company (or office) outside the area where he/she lives or works. All missing values were imputed. Imputations were done using conditional mean tables. 1. yes (184 cases) 5. no (370 cases) 0. INAP, do not have an account at a stock brokerage (3549 cases) question: K21e B5339 CALCULATED NUMBER OF MENTIONS OF STOCK BROKERAGE USAGE. This is the calculated number of different instances in the survey where a stock brokerage company or money market mutual fund was given as the source of a loan, line of credit, or the location of a savings, checking, money market, trust, stock purchase, or IRA account for each household. 1. 2. 3. 4. 5. 6. 7. 0. one (350 cases) two (168 cases) three (123 cases) four (80 cases) five (34 cases) six (13 cases) seven (3 cases) none (3332 cases) Sources of Advice in Making Financial Decisions (A) (B) (C) (D) (E) (F) (G) B5340 (A) accountant banker stock broker tax advisor lawyer spouse friend or relative DOES HOUSEHOLD USE ADVICE FROM SOURCES?

B5341 B5342 B5343 B5344 B5345 B5346

(B) (C) (D) (E) (F) (G)

For each potential source of advice the respondent indicated whether or not he/she sought advice concerning savings and investment decisions. All missing values were imputed using conditional mean tables with randomization. 1. yes, use source (340/520/428/245/262/378/979 cases) 5. no, do not use source (3763/3583/3675/3858/3841/3725/3124 cases)

question: H4/H4a/H4b/H4c/H4d/H4e/H4f/H4g B5347 OTHER SOURCES OF ADVICE. Other sources used by the household in making decisions about savings and investment than those listed above. 1. 2. 3. 4. 5. 0. financial advisor/counselor (63 cases) media; reading; Wall Street Journal (53 cases) insurance agent/company (12 cases) employer; company where respondent/spouse work (15 cases) other source (33 cases) none (3927 cases)

question: H4 Bank Market Variables B5348 TOTAL COMMERCIAL BANK DEPOSITS IN MARKET. The total commercial bank deposits in the household's banking market. This variable, and the ones following, were constructed by matching the county or SMSA that the household lives in to Federal Reserve Board bank market data as measured in June 1983. Bank markets are defined as the SMSA, when applicable, or the county. Three households were in markets without banks and data are not given for the high-income sample. xxxxxxxxx. deposits in 1000's of dollars (25,580 to 146,772,176) 0. INAP, high-income sample or no banks in market (441 cases) B5349 TOTAL SAVINGS AND LOAN ASSOCIATION DEPOSITS IN MARKET. The total deposits of savings and loan associations in the market. xxxxxxxx. deposits in 1000's of dollars (4,483 to 36,990,000) 0. INAP (441 cases) B5350 TOTAL MUTUAL SAVINGS BANK DEPOSITS IN MARKET. The total deposits of mutual savings banks (FDIC insured) in the market. xxxxxxxx. deposits in 1000's of dollars (13,046 to 47,807,248) 0. none or INAP (3228 cases) B5351 TOTAL NUMBER OF COMMERCIAL BANKS IN MARKET. The number of legally separate firms.

xxx. number (2 to 404) 0. INAP (441 cases) B5352 TOTAL NUMBER OF SAVINGS AND LOANS IN MARKET. The number of legally separate firms. xxx. number (1 to 155) 0. INAP (441 cases) B5353 TOTAL NUMBER OF MUTUAL SAVINGS BANKS IN MARKET. The number of legally separate firms. xx. number (1 to 70) 0. none or INAP (3228 cases) B5354 TOTAL NUMBER OF COMMERCIAL BANK ORGANIZATIONS IN MARKET. The number of economically separate firms (holding companies are consolidated) xxx. number (2 to 398) 0. INAP (441 cases) B5355 TOTAL NUMBER OF SAVINGS AND LOAN ORGANIZATIONS IN MARKET. The number of economically separate firms (holding companies are consolidated) xxx. number (1 to 155) 0. INAP (441 cases) B5356 TOTAL NUMBER OF MUTUAL SAVINGS BANKS ORGANIZATIONS IN MARKET. The number of economically separate firms (holding companies are consolidated) xx. number (1 to 70) 0. none or INAP (3228 cases) B5357 TOTAL NUMBER OF COMMERCIAL BANK OFFICES IN MARKET. The number of separate offices (including head and branches). xxxx. number (2 to 1,566) 0. INAP (441 cases) B5358 TOTAL NUMBER OF SAVINGS & LOAN ASSOCIATION OFFICES IN MARKET. The number of separate offices (including head and branches). xxx. number (1 to 799)

0. INAP (441 cases) B5359 TOTAL NUMBER OF MUTUAL SAVINGS BANK OFFICES IN MARKET. The number of separate offices (including head and branches). xxx. number (1 to 498) 0. none or INAP (3228 cases) B5360 THREE-FIRM CONCENTRATION RATIO FOR MARKET (ALL INSTITUTIONS). The percentage of the total deposits in the market held by the largest three depository institutions. xxxx. percentage times 10 (202 to 1000) 0. INAP (441 cases) B5361 THREE-FIRM CONCENTRATION RATIO FOR MARKET (COMMERCIAL BANKS). The percentage of the total commercial bank deposits in the market held by the largest three commercial banks. xxxx. percentage times 10 (357 to 1000) 0. INAP (441 cases) B5362 HERFINDAHL INDEX FOR MARKET (ALL INSTITUTIONS). The Herfindahl index for the market including all depository institutions. The Herfindahl is the sum of the squared market shares (as a percentage) of all institutions in the market. The maximum value is thus 100 x 100 or 10,000. xxxxx. index times 10 (2,953 to 49,196) 0. INAP (441 cases) B5363 HERFINDAHL INDEX FOR MARKET (COMMERCIAL BANKS ONLY). The Herfindahl index for the market including only commercial banks. xxxxx. index times 10 (6,271 to 64,879) 0. INAP (441 cases) B5364 STATE BANKING LAW. This variable indicates the law governing commercial bank branching in the state of each respondent at the time of the survey. Answered for all observations but the high-income sample. 1. 2. 3. 0. B5365 unit banking state (only one office per bank) (550 cases) limited branching allowed (1479 cases) state-wide branching state (1636 cases) INAP, high-income sample (438 cases)

MULTI-BANK HOLDING COMPANY PROHIBITION? The state banking laws prohibit multi-bank holding companies

at the time of the survey.

Not given for the high-income sample.

1. yes, no multi-bank holding companies (525 cases) 5. no (3140 cases) 0. INAP (438 cases) SAVINGS ATTITUDES Variables in this section reflect answers given by respondent on their reasons for, and attitudes toward, saving. Because they represent attitudes, not "facts," missing values have not been imputed for any of the variables in this section. Reasons for Savings, Attitudes Toward Risk and Liquidity B5401 B5402 REASONS FOR SAVING. Respondents were asked what the household's most important reasons for saving were. Two variables are provided for answers. This was an open-ended question. 1. children's education (204/170 cases) 2. own education; spouses education; education -- NA for whom (84/59 cases) 3. "for the children/family" not further specified; "to help the kids out" (103/112 cases) 11. buying own house (133/70 cases) 12. purchase of cottage or second home for own use (5/5 cases) 13. buy a car (32/46 cases) 14. home improvements/repairs (25/25 cases) 15. to travel; take vacations (113/234 cases) 16. buy durable household goods, appliances, home furnishings; hobby items; for other purchases not codable above or not specified; "buy things when we need/want them" (224/212 cases) 17. burial; funeral expense (35/30 cases) 21. buying (investing in) own business/farm; equipment for business (11/6 cases) 22. retirement; old age (680/319 cases) 23. reserves in case of unemployment (105/103 cases) 24. in case of illness; medical/dental expenses (293/283 cases) 25. emergencies; "rainy days" (1236/350 cases) 26. investment reasons (to get interest, to be diversified, to buy other forms of assets) (139/88 cases) 27. to meet contractual commitments (debt repayment, insurance, taxes, etc) to pay off the house (34/14 cases) 28. "to get ahead;" for the future; to advance standard of living (242/110 cases) 29. ordinary living expenses/bills (187/107 cases) 90. had extra income; saved because had the money left over no other purpose specified (31/13 cases) 91. wise/prudent thing to do; good discipline to save (45/20 cases) 97. other reason (17/10 cases) -6. don't/can't save (106/0 cases) -8. DK (5/0 cases) -9. NA (14/0 cases) 0. INAP (second reason only) (0/1717 cases) question: H1

B5403

ATTITUDE TOWARD RISK. Respondents were asked: "Which of the following statements on this card comes closest to the amount of financial risk you are willing to take when you save or make investments?" 1. take substantial financial risks expecting to earn substantial returns (266 cases) 2. take above average financial risks expecting to earn above average returns (524 cases) 3. take average financial risks expecting to earn average returns (1572 cases) 4. not willing to take any financial risks (1647 cases) -8. DK (28 cases) -9. NA (66 cases) question: H2

B5404

ATTITUDE TOWARD LIQUIDITY. Respondents were asked: "Which of the following statements on this card comes closest to how you feel about tying up your money in investments for long periods of time?" 1. tie up money for a long period of time to earn substantial returns (535 cases) 2. tie up money for an intermediate period of time to earn above average returns (1142 cases) 3. tie up money for a short period of time to earn average returns (1205 cases) 4. not willing to tie up money at all (1107 cases) -8. DK (26 cases) -9. NA (88 cases) question: H3 Tax Rate, Savings, Inheritance

B5405

MARGINAL TAX RATE. Respondents were asked: "if you were to earn an extra dollar of income, about what percent would have to be paid in federal income taxes?" There are a substantial number of don't knows and NAs for this question and some "implausible" responses. xxxx. -6. -8. -9. percentage times 10 (1 to 1000) none (416 cases) DK (1316 cases) NA (38 cases)

question: H5 B5406 SAVINGS IN 1982. Respondents were asked: "considering all of your savings and reserve funds, overall, did you put more money in or take more money out in 1982?"

1. 3. 5. -8. -9.

put more money in (1487 cases) stayed the same, no savings (954 cases) took more money out (1583 cases) DK (13 cases) NA (66 cases)

question: H6 B5407 RECEIVE INHERITANCE. Respondents were asked: "Overall did most of your savings come from your regular income, or did they come originally from gifts and inheritances, or other sources?" 1. mostly saved from income; own pension/social security; profit sharing (3332 cases) 2. mostly from gifts and inheritances (292 cases) 3. combinations including income (1 & 2, 1 & 4, 1 & 6) (85 cases) 4. settlements; insurance; lawsuit; divorce (33 cases) 5. have no savings (202 cases) 6. investment income; sale of property; interest (88 cases) 7. other source (20 cases) -8. DK (3 cases) -9. NA (48 cases) question: H7 B5408 EXPECT INHERITANCE? Respondents were asked if he/she expected to ever receive a large inheritance. 1. 5. -8. -9. yes, expect inheritance (567 cases) no, do not expect inheritance (3453 cases) DK (66 cases) NA (17 cases)

question: H8 CREDIT ATTITUDES Variables in this section reflect answers given by respondent about their attitudes toward credit and debt. Because they represent attitudes, not "facts," missing values have not been imputed for any of the variables in this section. Reasons for Borrowing B5501 GENERAL CREDIT ATTITUDE. Respondents were asked: "do you think it is a good idea or a bad idea for people to buy things on the installment plan?" 1. 3. 5. -8. good idea (1848 cases) good in some ways, bad in others (1270 cases) bad idea (948 cases) DK (24 cases)

-9. NA (13 cases) question: A1 B5502 (1st) B5503 (2nd) WHY GOOD (OR BAD) IDEA? This is a follow-up to B5501 asking why respondent thought installment borrowing was good (or bad if B5501 = 5). This question was not asked if B5501 was DK or NA. B5502 is a first mention and B5503 is a second mention if more than one was given. Note that in some cases, respondents gave reasons in B5502 and/or B5503 that were inconsistent with their answer to B5501. why good idea? 10. enables people to improve their standard of living/have a better lifestyle/get up in the world (50/25 cases) 11. can buy now; only way (some) people can buy/have things, don't have to wait until money is saved up; can't afford" to buy otherwise (1325/286 cases) 12. can use item while paying for it (23/24 cases) 13. teaches financial responsibility; teaches people how to manage money (13/15 cases) 14. good for the country/economy; stimulates business (119/81 cases) 15. to establish credit; get a good credit rating (136/104 cases) 16. to keep cash on hand; will not have spent all your cash on one thing (18/16 cases) 17. to save; to keep savings; can save some and buy at same time (11/8 cases) 18. hedge against inflation; can buy today's goods at tomorrow's dollars (16/13 cases) 19. interest charges are a tax deduction (19/27 cases) 20. easier to keep track of spending; simplifies record keeping/staying on budget (18/15 cases) 21. can take advantage of sales/discounts (14/18 cases) 22. convenience; may not have cash with you, but can charge it (57/41 cases) 23. get better service/treatment from creditor if you owe money on item or have a charge account (8/3 cases) 24. accepted medium of exchange; credit cards are replacing money /ours is a credit society; can use credit cards anywhere (29/14 cases) 25. safer to carry than money; don't lose as much if stolen/lost (10/4 cases) 29. other reasons good (17/12 cases) depends or qualified by 31. age of buyer; good if young; bad if old (23/13 cases) 32. source of credit; bank OK, finance company not (2/3 cases) 33. nature of purchase; good if large or necessity, bad if impulse purchase or buy too much or luxuries (202/113 cases) 34. nature of debt position; good if large/necessity, bad if much in debt (47/20 cases) 35. ability of buyer to manage money or budget; good

if you don't go too far in debt (442/192 cases) 36. availability of cash; bad if you can pay cash, good if you can't (44/21 cases) 37. rate of interest or finance charges (11/11 cases) 38. buyer's financial/job security; if have a secure job; income is steady (68/24 cases) 39. "sometimes it's necessary"--NA why; OK if really need item; "for emergencies" (142/169 cases) 49. other depends or qualifications (14/5 cases) why bad idea? 51. encourage (impulse) buying; too easy to buy now, pay later; buy things you don't want or need (52/65 cases) 52. still paying for something when it's worn out/used up (5/6 cases) 54. bad for the country/economy; bad for business; causes inflation (26/29 cases) 55. debt/credit intrinsically bad; don't believe in owing money; immoral (178/59 cases) 56. erodes character; puritan ethic; bad idea because it's good for people to scrimp and save to pay for what they want (25/28 cases) 57. leads to harrassment/repossession by creditor if fall behind in payments (10/11 cases) 58. future too uncertain; might not be able to pay later if get sick or lose job (36/34 cases) 59. interest or finance charges (too high); costs too much (209/138 cases) 60. people abuse credit; run up bills and don't pay them (87/81 cases) 61. creates money management/budgeting problems; buy more than you can pay for; "get in over your head"; too easy to go into (too much) debt (488/324 cases) 69. other reasons bad (18/9 cases) -8. DK (4/0 cases) -9. NA (47/0 cases) 0. INAP, NA credit good/bad or no second mention (37/2145 cases) question: A1a REASONS FOR BORROWING. (A) (B) (C) (D) (E) (F) (G) (H) (I) B5504 B5505 B5506 B5507 (A) (B) (C) (D) Expenses of vacation trip Living expenses when income is cut Consolidate bills which have piled up Finance the purchase of a fur coat or jewelry Finance boats, snowmobiles and other hobby equipment Finance the purchase of a car Expenses due to illness Finance educational expenses Finance the purchase of furniture

For each of the potential reasons for borrowing given in (A)(I) respondents were asked: "tell me if it is all right for someone like yourself to borrow money to ..(each reason asked)?" These variables give respondent's answers to each

B5508 B5509 B5510 B5511 B5512

(E) (F) (G) (H) (I)

reason. 1. 5. -8. -9. yes (576/1877/1981/240/869/3358/3384/3272/2022 cases) no (3515/2182/2061/3853/3216/732/679/793/2052 cases) DK (1/25/40/0/2/4/23/18/11 cases) NA (11/19/21/10/16/9/17/20/18 cases)

question: A2 Credit Terms B5513 (1st) B5514 (2nd) B5515 (3rd) IMPORTANT AUTOMOBILE LOAN TERMS. Respondents were asked: "... in choosing an automobile loan, which of the credit terms listed on this card would be most important to you if you were going to use credit to purchase a car? Which comes next? Which is third?" B5513 contains the code of the most important term, B5514 contains the code of the second most important, and B5515 the code of the third most important. 1. size of the loan (761/566/631 cases) 2. dollar amount of interest or finance charge (655/698/502 cases) 3. size of the monthly payments (1223/970/694 cases) 4. annual percentage rate of interest (932/728/545 cases) 5. charge for late payment (8/49/100 cases) 6. rebate for early payoff of loan (73/257/421 cases) 7. security for collateral for loan (35/106/247 cases) 8. size of the down payment (255/541/748 cases) -8. DK (57/57/57 cases) -9. NA (104/131/158 cases) question: A3 Interest Quiz B5516 (1st) B5517 (2nd) INTEREST QUIZ -- AMOUNT OF PAYMENT. Respondents were asked the following: "Suppose you were buying a room of furniture for a list price of $1,000 and you were to repay the amount to the dealer in 12 monthly installments. How much do you think it would cost in total, for the furniture after one year -including all finance and carrying charges?" Variable B5516 contains respondent's original "unprobed" response to the dollar amount of payment. If a respondent responded "don't know," he/she was probed for their best estimate, as given in B5517. If a dollar amount is given in B5516, then B5516 and B5517 are the same. xxxx. dollars (1000 to 4000) -8. DK (736/420 cases) -9. NA (34/30 cases) question: A4,A4a

B5518 (1st) B5519 (2nd)

INTEREST QUIZ -- PERCENT RATE OF INTEREST. As a followup to the above question (B5516 or B5517) respondents were asked what percent rate of interest the payments indicated in B5516 or B5517 would imply. Variable B5518 contains respondent's original "unprobed" response to the interest rate. If a respondent responded "don't know," he/she was probed for their best estimate, as given in B5519. If a percentage is given in B5518, then B5518 and B5519 are the same. If an amount was not given in B5516 or B5517 then the interest rate questions were not asked. xxx. -6. -8. -9. percentage times 10 (10 to 800) none (2/2 cases) DK (444/216 cases) NA (B5517 = -8 or -9) (464/464 cases)

question: A5,A5a B5520 IMPLIED AMOUNT OF PAYMENT. This is a constructed variable based on the interest rate given by respondent in B5519. It gives the implied correct total payments that would be paid if the interest rate given by respondent in B5519 were charged. If respondent understands the relationship between interest rates and payments, then B5520 should be approximately the same as B5517. xxxx. dollars (1001 to 1619) -8. DK (in B5519) (216 cases) -9. NA (in B5519) (464 cases) B5521 IMPLIED INTEREST RATE. This is a constructed variable based on the total payment charges given by respondent in B5517. It gives the implied correct interest rate that would be paid if the payments given by respondent in B5517 were made. If respondent understands the relationship between interest rates and payments, then B5521 should be approximately the same as B5519. xxxx. -6. -8. -9. percentage times 10 (37 to 3000) none (13 cases) DK (in B5517) (420 cases) NA (in B5517) (30 cases) Turned Down for Credit or Discouraged from Borrowing B5522 TURNED DOWN FOR CREDIT IN LAST FEW YEARS? Respondents were asked if he/she (or their spouse) had had a request for credit turned down by a particular lender or creditor in the past few years, or had been unable to get as much credit as he/she had applied for. 1. yes, turned down (484 cases) 3. yes, unable to get as much credit as he/she wanted (71 cases)

5. not turned down (3535 cases) -9. NA (13 cases) question: A6 B5523 (1st) B5524 (2nd) REASONS TURNED DOWN FOR CREDIT If respondents (or their spouse) had been turned down for credit (B5522 equals 1 or 3), he/she was asked what reasons he/she was given for being turned down (or not receiving as much credit as he/she asked for) on the most recent occasion when this occurred. B5523 contains the code for the first reason given, and B5524 the code for a second mention if one was given. personal characteristics of borrower 50. family background/life history; who your parents (relatives) are (0/1 cases) 52. marital status (8/1 cases) 53. sex (0/3 cases) 54. combination of marital status and sex--"single men", "married women" (0/1 cases) 55. age (4/0 cases) 56. race (2/0 cases) 57. personal character/reputation-whether borrower is stable, honest; known by other people trusted by institution (3/0 cases) 58. health (3/0 cases) 59. other personal characteristics of borrower (1/1 cases) credit characteristics of borrower 61. need to have a checking/savings account (at institution) (3/1 cases) 62. haven't established a credit history (107/15 cases) 63. credit rating service/credit bureau reports (9/3 cases) 64. credit records/history from other institutions; other loans or charge accounts; previous payment records; bankruptcy (103/6 cases) 65. lack of/not enough assets/collateral/property to secure the loan (except home ownership--code 74); size of down payment; financial status (49/5 cases) 66. amount of debt; size of other payments; ability to repay loan (28/8 cases) 69. other credit characteristics of borrower (5/0 cases) financial characteristics of borrower 71. time on current job (18/7 cases) 72. job; type of work; steady/secure employment; good job (9/4 cases) 73. lack of job; not working; on welfare (23/6 cases) 74. lack of home ownership (2/1 cases) 75. time at current address; time in community or state (17/8 cases) 76. amount of income; "income" (61/12 cases) 77. source of income; retired (2/0 cases) 78. where you live; what type of neighborhood/area of the city you live in; if you live in the state/county (2/0 cases)

79. other financial characteristics of borrower (3/0 cases) miscellaneous 81. lack of familiarity/experience; don't have account there; I'm not a credit union member (2/1 cases) 82. previous bad experience (nec); had difficulty/been turned down-- NA why (0/1 cases) 83. institution is more "strict" in lending requirements--NA in what areas (1/0 cases) 88. inconvenient/difficult--not codable above (1/0 cases) 89. other miscellaneous (6/0 cases) 90. didn't approve of purpose for which money was to be borrowed (11/2 cases) 91. loan was too large for source to handle; sources doesn't have much money to lend; money reserves of source are low (14/1 cases) 92. interest (0/1 cases) 97. other unspecified (13/5 cases) -6. none; no reason was given; "bank policy" (29/0 cases) -8. DK (11/0 cases) -9. NA (5/0 cases) 0. INAP, not turned down for credit, no second mention (3548/4009 cases) question: A6a B5525 REAPPLY FOR CREDIT. Respondents were asked if he/she (or their spouse) reapplied for credit at the same lender or any other institution after he/she was turned down for credit (or did not get as much as he/she asked for). If he/she had reapplied he/she was asked whether or not he/she eventually received as much credit as he/she had originally wanted. This question was asked only if B5522 equaled 1 or 3. 1. reapplied for credit and received as much as he/she wanted (135 cases) 2. reapplied for credit and were again denied or did not receive as much as he/she wanted (82 cases) 3. reapplied for credit and NA whether he/she received as much as he/she wanted (2 cases) 5. did not reapply (333 cases) -9. NA whether reapply (3 cases) 0. INAP, not turned down for credit (3548 cases) question: A6b,A6c B5526 DISSUADED FROM APPLYING FOR CREDIT? Respondents were asked if there had been any time in the past few years that he/she (or their spouse) had thought about applying for credit at a particular place, but changed their mind because he/she thought he/she might be turned down. 1. yes (369 cases) 5. no (3726 cases)

-8. DK (1 case) -9. NA (7 cases) question: A7 B5527 (1st) B5528 (2nd) REASONS FOR THINKING HE/SHE WOULD BE TURNED DOWN. If respondents (or their spouse) had not applied for credit because he/she thought he/she would be turned down (B5526 equals 1), he/she was asked for what reasons he/she thought he/she would be turned down on the most recent occasion when this occurred. B5527 contains the code for the first reason given, and B5528 the code for a second mention, if one was given. personal characteristics of borrower 50. family background/life history; who your parents (relatives) are (2/0 cases) 52. marital status (12/1 cases) 53. sex (1/0 cases) 54. combination of marital status and sex--"single men", "married women" (2/0 cases) 55. age (9/3 cases) 56. race (0/1 cases) 57. personal character/reputation-whether borrower is stable, honest; known by other people trusted by institution (2/1 cases) 58. health (1/1 cases) 59. other personal characteristics of borrower (1/1 cases) credit characteristics of borrower 61. need to have a checking/savings account (at institution) (2/0 cases) 62. haven't established a credit history (45/12 cases) 63. credit rating service/credit bureau reports (5/1 cases) 64. credit records/history from other institutions; other loans or charge accounts; previous payment records; bankruptcy (63/2 cases) 65. lack of/not enough assets/collateral/property to secure the loan (except home ownership--code 74); size of down payment; financial status (29/9 cases) 66. amount of debt; size of other payments; ability to repay loan (30/6 cases) 69. other credit characteristics of borrower (1/0 cases) financial characteristics of borrower 71. time on current job (8/4 cases) 72. job; type of work; steady/secure employment; good job (8/4 cases) 73. lack of job; not working; on welfare (33/7 cases) 74. lack of home ownership (1/0 cases) 75. time at current address; time in community or state (3/1 cases) 76. amount of income; "income" (51/17 cases) 77. source of income; retired (3/0 cases) 78. where you live; what type of neighborhood/area of the city you live in; if you live in the state/county (1/0 cases)

79. other financial characteristics of borrower (2/1 cases) miscellaneous 82. previous bad experience (nec); had difficulty/been turned down-- NA why (17/0 cases) 83. institution is more "strict" in lending requirements--NA in what areas (2/0 cases) 87. "discrimination"; references to redlining--NA basis (1/1 cases) 88. inconvenient/difficult--not codable above (1/0 cases) 89. other miscellaneous (5/3 cases) 91. loan was too large for source to handle; sources doesn't have much money to lend; money reserves of source are low (3/0 cases) 92. interest (3/1 cases) 97. other unspecified (7/2 cases) -6. none; no reason was given; "bank policy" (1/0 cases) -8. DK (2/0 cases) -9. NA (15/0 cases) 0. INAP, did not think would be turned down, no second mention (3734/4019 cases) question: A7a B5529 TYPE OF FINANCIAL INSTITUTION. If respondents (or their spouse) had not applied for credit because he/she thought he/she would be turned down (B5526 equals 1), he/she was asked which type of lender this was with. 1. 2. 3. 4. 5. 6. 7. 8. 11. 12. 15. 16. 22. 28. commercial bank (117 cases) savings and loan association or savings bank (23 cases) credit union (27 cases) finance or loan company (51 cases) store or dealer (113 cases) brokerage company (1 case) insurance company (1 case) mortgage company (3 cases) automobile finance company (2 cases) doctor or hospital, dentist (1 case) employer (3 cases) friend or relative (not codable above) (2 cases) school, college, university (1 case) bank or general purpose credit card company; American Express; VISA; Carte Blanche; Mastercard; Diners Club (8 cases) 93. farm related lenders (not codable above) (1 case) 96. combination of lenders (1 case) 97. other (1 case) -8. DK (1 case) -9. NA (12 cases) 0. INAP, did not think he/she would be turned down (3734 cases) question: A7b. B5530 (1st) SOURCE OF INFORMATION FOR THINKING HE/SHE WOULD BE B5531 (2nd) TURNED DOWN. If respondents (or their spouse) had not applied for

credit because he/she thought he/she would be turned down (B5526 equals 1), he/she was asked where he/she obtained the information that led them to believe this. B5530 contains the first mention given, and B5531 the second mention, if given. 11. previous experience with borrowing or with the lender (29/2 cases) 13. from self; my own idea; just assumed I couldn't get it--not 15 (99/13 cases) 15. family or self and family; we decided we couldn't get it (36/0 cases) 17. from friend, acquaintance (27/2 cases) 21. (directly from) a financial institution; from bank, finance company, credit union, other financial institution (95/6 cases) 22. (direct from) stores/dealers (37/2 cases) 30. from stated/written credit conditions; "requirements" for loan (5/0 cases) 31. from credit bureau; credit rating service (11/0 cases) 40. from the media; television, newspapers, radio (6/1 cases) 97. other source (6/0 cases) -8. DK (2/0 cases) -9. NA (16/0 cases) 0. INAP, did not think he/she would be turned down, no second mention (3734/4087 cases) question: A7c CREDIT SHOPPING Respondents were asked about their most recent purchase of a durable good or home improvement costing more than $500 and occurring within the previous year (if any). If he/she had made such a purchase, details were collected on the method of payment he/she had used and how he/she selected that method. Most information is self-reported. There were about 300 cases, however, where respondents indicated that he/she had not made a purchase of $500 dollars or more, but information provided in the Vehicle or Consumer Loan Section indicated that he/she had. In these instances data was filled in here, Credit Shopping Section, reflecting the purchase. Recent Purchase Over $500 B5601 PURCHASE OVER $500 WITHIN A YEAR? Respondents were asked if he/she (or their spouse) had purchased a vehicle, large item for the home, a recreation item, or home improvements, that cost $500 or more within the previous year. As indicated above, some purchases were inferred from data given elsewhere. All missing values were imputed. 1. yes (2245 cases) 5. no (1858 cases) question: G1 B5602 TYPE OF PURCHASE.

The type of purchase. Asked only if a large purchase had been made (B5601 = 1). Information is given for the most recent item purchased over $500. All missing values were imputed using conditional mean tables. 1. purchase home (current residence) (2 cases) 2. purchase home (current residence) if mobile home (2 cases) 3. home improvement or addition (including assessment for sewer) (223 cases) 4. home repairs, upkeep, maintenance (101 cases) 6. New automobile (239 cases) 7. Used automobile (477 cases) 8. New truck or utility vehicle (45 cases) 9. Used truck or utility vehicle (165 cases) 11. refrigerator (61 cases) 12. stove-range, microwave oven (38 cases) 13. dishwasher (4 cases) 14. freezer (7 cases) 15. air conditioner (14 cases) 16. washing machine, washer dryer combination (31 cases) 17. dryer (4 cases) 18. furniture, lamps, mattress and spring combos (254 cases) 19. rug, carpet (56 cases) 20. vacuum cleaner (8 cases) 21. sewing machine (2 cases) 22. typewriter (manual or electric) (1 case) 23. home computer, calculator, computer terminal (23 cases) 25. combination of appliances (including TV); appliance NA type (8 cases) 26. furniture and appliance combinations (6 cases) 27. furniture and carpet combinations (6 cases) 28. curtains, drapes, china, other small household goods/furnishings (15 cases) 29. other appliances or durable goods (6 cases) 31. stereo, phonograph (may include radio), sound equipment, amp (45 cases) 34. piano, organ (14 cases) 35. musical instruments (except pianos or organs) (1 case) 36. TV -- NA color or black and white (78 cases) 37. color TV (17 cases) 39. "home entertainment center", (incl. combination TV, radio, phonograph, etc.); beta max, video cassette recorder/player (34 cases) 41. camera; camera equipment (incl. lighting apparatus, enlarger) (4 cases) 49. other small/indoor hobby or entertainment items (i.e. pool tables) (3 cases) 51. power tools (hand held or stationary) -- electric drill radial arm or chain saw, belt sander, router (5 cases) 52. yard equipment, lawn mower, snow blower, roto-tiller (11 cases) 53. tractor, self-propelled construction/farming devices (non-business) (6 cases) 59. other tools (3 cases) 61. boat; boating equipment (incl. trailer) (38 cases) 62. bicycle, moped (2 cases) 63. motorcycle (25 cases) 65. camper-trailers (excluding self-propelled campers) (22 cases) 66. mobile homes (not current residence); self-propelled

campers (7 cases) 67. cottage, vacation property (2 cases) 69. other outdoor recreation items (8 cases) 71. stamp/coin collection; antique-classic car (incl. other similar "asset collections) (13 cases) 72. investment real estate (incl. cemetery plots) (23 cases) 79. other investments (5 cases) 81. travel/vacation expenses (8 cases) 82. medical/dental expenses (1 case) 83. education/school expenses (1 case) 86. encyclopedias, health clubs, spas (3 case) 91. living/general expenses; moving expenses (3 cases) 92. personal items (incl. clothing or jewelry) (43 cases) 93. vehicle repair/upkeep (incl. insurance) (9 cases) 94. gifts; goods or gifts of money; "christmas" (7 cases) 97. other type (6 cases) 0. INAP, no purchase (1858 cases) question: G2 B5603 MONTH OF THE PURCHASE. All missing values were imputed. xx. month (1 to 12) 0. INAP (1858 cases) question: G3 B5604 YEAR OF THE PURCHASE. All missing values were imputed. 1982. (1501 cases) 1983. (744 cases) 0. INAP (1858 cases) question: G3 B5605 COST OF THE PURCHASE. All missing values were imputed. Imputations were made using a variety of regressions with random terms added. xxxxxxx. dollars (500 to 1,500,000) 0. INAP (1858 cases) question: G4 Method of Purchase B5606 METHOD OF PAYMENT. All missing values were imputed. conditional means. Imputations were made using

1. credit card -- paid in full when received bill (181 cases) 2. credit card -- bill not paid in full when received (127 cases)

3. credit card -- DK or NA whether bill paid in full when received (4 cases) 4. credit card -- bill not received, but will pay in full (12 cases) 5. credit card -- bill not received, will not pay in full (7 cases) 7. cash or check where the funds originally came from a loan against a line of credit (8 cases) 8. cash or check where the funds came from savings or investments (1106 cases) 9. cash or check where the funds came from an other source (16 cases) 10. cash or check NA or DK original source of funds (14 cases) 11. cash or check original source of funds from loan (26 cases) 12. loan (696 cases) 13. line of credit loan (38 cases) 14. other method (10 cases) 0. INAP (1858 cases) question: G5,G5a,G5b,G5c Terms and Location of Loan B5607 AMOUNT STILL OUTSTANDING ON LOAN. Asked only if a loan was used for the purchase (B5506 = 11 or 12). All missing values were imputed. If the loan is still outstanding it will be included in the Housing or Consumer Loan Section. The amount listed here, therefore, is identical to the amount for the appropriate variable of B4212 etc. The formula for computing the amount outstanding and for imputations is given there. xxxxxx. dollars (39 to 240,000) -6. loan paid off (43 cases) 0. INAP, no purchase or loan not used for payment (3381 cases) question: G6 (and loan questions) B5608 ORIGINAL AMOUNT BORROWED. Asked only if a loan was used for the purchase (B5506 = 11 or 12). All missing values were imputed. If the loan is still outstanding, this variable will be the same as the appropriate variable in B4218 etc. xxxxxx. dollars (184 to 240,000) 0. INAP (3381 cases) question: G6a (and loan questions) B5609 SIZE OF EACH PAYMENT. Asked only if a loan was used for the purchase (B5506 = 11 or 12). All missing values were imputed. If the loan is still outstanding, this variable will be the same as the appropriate variable in B4219 etc. xxxxx. dollars (10 to 27,600) -6. no regular payments (74 cases) 0. INAP (3881 cases)

question: G6b (and loan questions) B5610 FREQUENCY OF PAYMENTS. Asked only if a loan was used for the purchase (B5506 = 11 or 12). All missing values were imputed. If the loan is still outstanding, this variable will be the same as the appropriate variable in B4220 etc. 3. 4. 5. 6. 8. 0. weekly (17 cases) biweekly (5 cases) monthly (621 cases) yearly (5 cases) no regular payments (74 cases) INAP (3381 cases)

question: G6c (and loan questions) B5611 ORIGINAL NUMBER OF PAYMENTS. Asked only if a loan with regular payments was used for the purchase (B5506 = 11 or 12 and B5610 = 3-7). All missing values were imputed. If the loan is still outstanding, this variable will be the same as the appropriate variable in B4221 etc. xxx. numbers (2 to 520) 0. no regular payments, INAP (3455 cases) question: G6c (and loan questions) B5612 NUMBER OF PAYMENTS LEFT. Asked only if a loan with regular payments was used for the purchase (B5506 = 11 or 12 and B5610 = 3-7). All missing values were imputed. If the loan is still outstanding, this variable will be the same as the appropriate variable in B4222 etc. xxx. numbers (1 to 499) 0. no regular payments, loan paid off, INAP (3473 cases) B5613 ANNUAL RATE OF INTEREST. Asked only if a loan was used for the purchase (B5506 = 11 or 12). All missing values were imputed. If the loan is still outstanding, this variable will be the same as the appropriate variable in B4223 etc. xxx. percentage rate times 10 (10 to 376) -6. none (20 cases) 0. INAP (3381 cases) question: G6d (and loan questions) B5614 SOURCE OF LOAN. Asked only if a loan was used for the purchase (B5506 = 11 or 12). All missing values were imputed. If the loan is still

outstanding, this variable will be the same as the appropriate variable in B4224 etc. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 15. 16. 17. 22. 24. 97. 0. commercial bank (280 cases) savings and loan association or savings bank (49 cases) credit union (49 cases) finance or loan company (96 cases) store or dealer (57 cases) brokerage company (1 case) insurance company (7 cases) mortgage company (2 cases) contractor or developer (3 cases) prior owner (8 cases) automobile finance company (84 cases) employer (1 case) friend or relative (not codable above) (35 cases) individual lender (not codable above) (3 cases) real estate investment company (1 case) federal government: FMHA, SBA, VA, FHA, HUD, NDSL (3 cases) other source (3 cases) INAP (3381 cases)

question: G6e (and loan questions) B5615 ORIGINAL MATURITY IN MONTHS. Asked only if a loan was used for the purchase (B5506 = 11 or 12). All missing values were imputed. If the loan is still outstanding, this variable will be the same as the appropriate variable in B4217 etc. xxx. months (2 to 360) -9. NA (52 cases) 0. INAP (3381 cases) B5616 (1st) B5617 (2nd) WHY CHOOSE LENDER TYPE? Asked only if a loan was used for the purchase (B5506 = 11 or 12). Respondents were asked what were the main reasons why he/she borrowed where he/she did rather than at another type of institution. No imputations. B5616 is the first reason given, and B5617 the second (if any). financial reasons 1. interest rate paid (131/38 cases) 3. loan policies -- good/easy; will give me loan if I need one (33/17 cases) 9. "good services/good terms" NA what (9/8 cases) other characteristics of institution 13. proximity, location; nearby; near my office (2/4 cases) 14. they take care of all the paper work (2/0 cases) 15. "convenient"/"easy" NA in what way (50/14 cases) 16. (can pay by) payroll deduction (9/13 cases) 21. institution is safe, stable, honest, reputable, experienced; deposit insured (by federal government) (1/1 cases) 31. people there are

nice/pleasant/courteous/helpful/friendly (1/2 cases) respondent's personal reasons 80. no choice; only institution in area/town; family/parents do (13/0 cases) 81. familiarity; used to it; have other accounts there; business there; have borrowed there; good prior experience with lender (126/25 cases) 82. have other business relationship with this institution; respondent's business has accounts there (7/0 cases) 83. respondent works there; knows people who work there (17/6 cases) 84. recommended by third party (10/1 cases) 85. to use as a credit reference (for other loans) (4/2 cases) 86. ease of/aid to personal record keeping; "they send monthly statements" (0/1 cases) 87. dealer uses this financial institution (45/11 cases) 91. "Trust them" -- NA why; "like them" -- NA why (3/1 cases) 92. they had the particular product R wanted (3/1 cases) 97. other reason (10/1 cases) -8. DK (3/0 cases) -9. NA (243/0 cases) 0. INAP, no second mention (3381/3957 cases) question: G7 B5618 (1st) B5619 (2nd) WHY CHOOSE SPECIFIC LENDER? Asked only if a loan was used for the purchase (B5506 = 11 or 12). Respondents were asked what were the main reasons why he/she borrowed at the specific firm where he/she did rather than at another lender. No imputations. B5618 is the first reason given, and B5619 the second (if any). financial reasons 1. interest rate paid (61/20 cases) 3. loan policies -- good/easy; will give me loan if I need one (31/5 cases) 9. "good services/good terms" NA what (11/3 cases) other characteristics of institution 12. hours/days open; open late or on Saturday (0/1 cases) 13. proximity, location; nearby; near my office (8/4 cases) 14. they take care of all the paper work (2/0 cases) 15. "convenient"/"easy" NA in what way (33/6 cases) 16. (can pay by) payroll deduction (3/5 cases) 21. institution is safe, stable, honest, reputable, experienced; deposit insured (by federal government) (0/1 cases) 31. people there are nice/pleasant/courteous/helpful/friendly (5/1 cases) respondent's personal reasons 80. no choice; only institution in area/town; family/parents do (7/0 cases) 81. familiarity; used to it; have other accounts

82. 83. 84. 87. 90. 91. 92. 97. -8. -9. 0.

there; business there; have borrowed there; good prior experience with lender (160/16 cases) have other business relationship with this institution; respondent's business has accounts there (15/1 cases) respondent works there; knows people who work there (27/4 cases) recommended by third party (13/1 cases) dealer uses this financial institution (70/4 cases) decision made by someone else -- NA why selected this (1/0 cases) "Trust them" -- NA why; "like them" -- NA why (3/2 cases) they had the particular product R wanted (13/0 cases) other reason (4/1 cases) DK (5/0 cases) NA (250/0 cases) INAP, no second mention (3381/4028 cases)

question: G8 B5620 CREDIT PREVIOUSLY OBTAINED FROM LENDER? Asked only if a loan was used for the purchase (B5506 = 11 or 12). Respondents were asked if he/she (or their spouse) had otained credit before from the lender he/she used to make their purchase. No imputations. 1. 5. -9. 0. yes, obtained credit before (271 cases) no, had not obtained credit before (217 cases) NA (234 cases) INAP (3381 cases)

question: G9 B5621 CREDIT FACTOR IN PURCHASE? Asked only if a loan was used for the purchase (B5506 = 11 or 12) and the loan was obtained from a store, dealer, or contractor (B5614 = 5, 9, 11 or 12). Respondents were asked if obtaining credit at the store (or seller) was a factor in purchasing the item there. No imputations. 1. 5. -9. 0. yes, factor (35 cases) no, not a factor (74 cases) NA (127 cases) INAP, loan not obtained from store dealer or contractor (3867 cases)

question: G10a B5622 HOW CREDIT A FACTOR IN PURCHASE. If obtaining credit at the store or dealer was a factor in purchasing the item there (B5621 = 1), respondents were asked what feature of the credit availability affected their decision to purchase the item. No imputations. 1. convenience or ease (13 cases)

2. 3. 4. -9. 0.

a good or favorable interest rate (6 cases) got better purchase price if financed at the dealer (1 case) other feature (8 cases) NA (7 cases) INAP, loan financing at dealer not a factor in purchase (4068 cases)

question: G10a Information Sought on Borrowing Terms B5623 (1st) B5624 (2nd) OTHER WAYS OF BUYING THE ITEM CONSIDERED. Respondents were asked what other method of payment he/she considered (besides the one he/she used). B5623 is first method mentioned, and B5624 the second (if any). A second mention was possible only if a loan was chosen for payment (B5606 = 11 or 12). No imputations. cash (143/2 cases) credit card or charge account (36/0 cases) line of credit (38/1 cases) another type of loan or credit (163/1 cases) no other method of payment considered (B5623 only) (1504/0 cases) 7. other method (11/3 cases) -8. DK (1/0 cases) -9. NA (349/0 cases) 0. INAP, no purchase or second mention (1858/4096 cases) question: G11/G12 B5625 INFORMATION OBTAINED ON CREDIT? If respondents used a loan (B5606 = 11 or 12) or considered using it (B5623 = 4 or B5624 = 4) he/she was asked if he/she tried to obtain information on creditors or credit terms prior to purchase. No imputations. 1. 5. -9. 0. yes, tried to obtain information (183 cases) no, did not try to obtain information (396 cases) NA (252 cases) INAP, did not use (or consider) a loan (3272 cases) 1. 2. 3. 4. 6.

question: G12 B5626 (1st) B5627 (2nd) HOW INFORMATION OBTAINED. If respondents tried to obtain information on creditors or credit terms prior to purchase (B5625 = 1), he/she was asked how he/she tried to obtain information. B5626 is the first mention and B5627 the second (if any). No imputations. 1. contacted (other) stores (1/0 cases) 2. contacted (other) dealers (28/4 cases) 4. contacted (other) banks (65/17 cases)

5. 6. 7. 8. 9. 11. 12. 13.

contacted (other) savings and loan associations (4/2 cases) contacted (other) finance companies - GMAC (9/2 cases) contacted credit union (28/7 cases) contacted other credit source (see card) (1/0 cases) shopped/looked around -- NA where (6/0 cases) talked with friends/neighbors/relatives (3/1 cases) checked in media/advertising sources (5/1 cases) "I phoned several places to ask about..."; "I called them"; "asked other people" -- NA who (18/3 cases) -9. NA (10/0 cases) 0. INAP, did not try to obtain information (3920/4066 cases) question: G13a B5628 (1st) B5629 (2nd) WHAT KIND OF INFORMATION DESIRED. If respondents tried to obtain information on creditors or credit terms prior to purchase (B5625 = 1), he/she was asked what kind of information he/she sought. B5628 is the first mention and B5629 the second (if any). No imputations. 1. interest rate--low(er)/reasonable/best available rates (128/13 cases) 4. finance charges (other than interest or NA if includes interest)-- low(er) or none (4/2 cases) 5. amount of down payment (4/7 cases) 6. size of (monthly) payments; payment amount (6/17 cases) 7. variations in payment amounts; balloon payments; larger final payment (0/1 cases) 8. longer contracts--more time to pay off loan; length of loan (4/13 cases) 9. easier to get credit--require less information/collateral; less stringent rules for giving credit; get credit approval faster; no red tape (3/2 cases) 10. availability of credit insurance--offer/give credit insurance; low(er) reasonable cost for credit insurance (1/0 cases) 12. handling of early payments--low/no penalty for pre-payments; rebate/dismissal of interest of finance charges when pay off early (0/2 cases) 19. co-signers--will allow co-signing of loan (0/1 cases) 20. amount of money he/she will let me borrow; what my credit limit was (5/4 cases) 25. credit terms/arrangements--NA what (10/5 cases) 26. give the best (a better) deal-NA how (4/0 cases) 28. "method of repayment"--nfs (0/3 cases) 29. other credit terms or cost of loan (see card) (0/1 cases) 41. availability of credit; credit institution would lend me the money; I could qualify for a loan; only place I could get a loan (4/0 cases) 97. other information (1/1 cases) -8. DK (1/0 cases) -9. NA (8/0 cases) 0. INAP, did not try to obtain information (3920/4031 cases) question: G13b

ECONOMIC DATA FOR HOUSEHOLDS' GEOGRAPHIC AREA Economic data were collected from census tapes for the county and SMSA (when applicable) where the household was interviewed. Data were drawn from the Census publication, "County and City Data Book 1983," U.S. Bureau of the Census, 1983. A variety of items were collected at the county level reflecting the 1980 Census and some economic information for 1982. Only population was collected at the SMSA level. These data are supposed to be reflective of the household's economic environment. For some counties though, such as Los Angeles, the county may be too large to give a meaningful indication of the household's particular environment. There is a fair amount of dispersion in these variables as households in the SCF were located in 132 different counties and 59 different SMSAs. No geographic information is given for the high-income sample. SMSA Data B5701 SMSA CODE. This variable is the MSA/PMSA (Metropolitan Statistical Area or Primary Metropolitan Statistical Area) code defined for the household's metropolitan area (if they live in one) as of 1983. This is coded as zero if the household did not live in an SMSA or was in the high-income sample. 40. Abilene, TX (28 cases) 360. Anaheim-Santa Ana, CA (23 cases) 520. Atlanta, GA (57 cases) 620. Aurora-Elgin, IL (19 cases) 720. Baltimore, MD (33 cases) 860. Bellingham, WA (49 cases) 1120. Boston, MA (42 cases) 1140. Bradenton, FL (27 cases) 1160. Bridgeport-Milford, CT (33 cases) 1480. Charleston, WVA (43 cases) 1600. Chicago, IL (68 cases) 1680. Cleveland, OH (37 cases) 1760. Columbia, SC (76 cases) 2000. Dayton-Springfield, OH (32 cases) 2160. Detroit, MI (79 cases) 2285. East St. Louis-Belleville, IL (10 cases) 2400. Eugene-Springfield, OR (71 cases) 2640. Flint, MI (50 cases) 2960. Gary-Hammond, IN (14 cases) 3200. Hamilton-Middletown, OH (30 cases) 3360. Houston, TX (71 cases) 3480. Indianapolis, IN (36 cases) 3640. Jersey City, NJ (10 cases) 3965. Lake County, IL (20 cases) 4400. Little Rock-Nort Little Rock, AR (61 cases) 4480. Los Angeles-Long Beach, CA (105 cases) 4520. Louisville, KY-IND (43 cases) 5000. Miami-Hialeah, FL (23 cases) 5015. Middlesex-Somerset-Hunterdon, NJ (63 cases) 5120. Minneapolis-St. Paul, MN-WI (59 cases) 5240. Montgomery, AL (35 cases)

5380. 5520. 5600. 5640. 5775. 5960. 6160. 6200. 6280. 6760. 7040. 7160. 7320. 7360. 7510. 7560. 7600. 7620. 7760. 8160. 8400. 8480. 8560. 8720. 8780. 8840. 8920. 9240. 0. B5702

Nassau-Suffolk, NY (21 cases) New London-Norwich, CT-RI (33 cases) New York, NY (21 cases) Newark, NJ (22 cases) Oakland, CA (24 cases) Orlando, FL (53 cases) Philadelphia, PA-NJ (60 cases) Phoenix, AZ (39 cases) Pittsburgh, PA (54 cases) Richmond-Petersburg, VA (36 cases) St. Louis, MO-IL (25 cases) Salt Lake City-Ogdon, UT (66 cases) San Diego, CA (40 cases) San Francisco, CA (26 cases) Sarasota, FL (49 cases) Scranton-Wilkes-Barre, PA (33 cases) Seattle, WA (27 cases) Sheboygan, WI (35 cases) Sioux Falls, SD (63 cases) Syracuse, NY (46 cases) Toledo, OH (36 cases) Trenton, NJ (28 cases) Tulsa, OK (55 cases) Vallejo-Fairfield-Napa, CA (45 cases) Visalla-Tulare-Porterville, CA (27 cases) Washington, DC-MD-VA (45 cases) Waterloo-Cedar Falls, IA (52 cases) Worcester, MA (27 cases) high-income or not in SMSA (1569 cases)

SMSA POPULATION. This variable is the 1980 Census population for the SMSA (if any) where the household lives. Definitions as of 1983 were sed to define the size of each SMSA. xxxxxxx. population of SMSA (10,035 to 82,496) 0. high-income or not in SMSA (1569 cases) County Data

B5703

COUNTY (FIPS) CODE This variable is the Census-defined FIPS code for the county the household lived in when interviewed for the Survey. The FIPS code is a 5 digit code, where the first two numbers are the state (the same as variable B3121) and the last three digits are a three digit county code within the state. Coded for all cross-section observations. 1101. 4013. 5019. 5093. 5119. 5125. 6001. 6037. Montgomery County, Ala. (35 cases) Maricopa County, AZ (39 cases) Clark County, AR (52 cases) Mississippi County, AR (53 cases) Pulaski County, AR (47 cases) Saline County, AR (14 cases) Alameda County, CA (24 cases) Los Angeles County, CA (104 cases)

6055. 6059. 6063. 6073. 6075. 6081. 6107. 8075. 9001. 9011. 11000. 12025. 12081. 12095. 12115. 12117. 13089. 13121. 13135. 13185. 17031. 17043. 17089. 17097. 17107. 17157. 17163. 18059. 18089. 18097. 19013. 19047. 21111. 21177. 22001. 22035. 23031. 24005. 24025. 24031. 24510. 25017. 25025. 25027. 26049. 26099. 26115. 26125. 26149. 26163. 27053. 27123. 27163. 28127. 29001. 29099. 29189. 29207.

Napa County, CA (45 cases) Orange County, CA (23 cases) Monterey County, CA (36 cases) San Diego County, CA (40 cases) San Francisco County, CA (10 cases) San Mateo County, CA (16 cases) Tulare County, CA (27 cases) Logan County, CO (46 cases) Fairfield County, CT (33 cases) New London County, CT (33 cases) District of Columbia (6 cases) Dade County, FL (23 cases) Manatee County, FL (23 cases) Orange County, FL (50 cases) Sarasota County, FL (49 cases) Seminole County, FL (3 cases) DeKalb County, GA (31 cases) Fulton County, GA (21 cases) Gwinnett County, GA (5 cases) Lowndes County, GA (52 cases) Cook County, IL (62 cases) Du Page County, IL (6 cases) Kane County, IL (19 cases) Lake County, IL (20 cases) Logan County, IL (36 cases) Randolph County, IL (41 cases) St. Clair County, IL (10 cases) Hancock County, IN (8 cases) Lake County, IN (14 cases) Marlon County, IN (28 cases) Black Hawk County, IA (52 cases) Crawford County, IA (35 cases) Jefferson County, KY (43 cases) Kenton County, KY (36 cases) Acadia County, LA (44 cases) East Carroll County, LA (38 cases) York County, ME (33 cases) Baltimore County, MD (4 cases) Harford County, MD (12 cases) Montgomery County, MD (5 cases) Baltimore City (independent city), MD (17 cases) Middlesex County, MA (30 cases) Suffolk County, MA (12 cases) Worcester County, MA (59 cases) Genesee County, MI (50 cases) Macomb County, MI (14 cases) Monroe County, MI (11 cases) Oakland County, MI (20 cases) St. Joseph County, MI (40 cases) Wayne County, MI (34 cases) Hennepin County, MN (40 cases) Ramsey County, MN (5 cases) Washington County, MN (14 cases) Simpson County, MS (46 cases) Adair County, MO (28 cases) Jefferson County, MO (6 cases) St. Louis County, MO (17 cases) Stoddard County, MO (45 cases)

29510. 31061. 34007. 34013. 34017. 34021. 34023. 34035. 36005. 36047. 36053. 36059. 36061. 36067. 36081. 36085. 36103. 36111. 36119. 37053. 37147. 37189. 39017. 39035. 39063. 39083. 39085. 39095. 39113. 40037. 40143. 41039. 42003. 42029. 42079. 42101. 42109. 42125. 45063. 45079. 46099. 47007. 48201. 48253. 48441. 49035. 51059. 51085. 51087. 51600. 51760. 53033. 53073. 54039. 55117. 0.

St. Louis City (independent city), MO (2 cases) Franklin County, NB (47 cases) Camden County, NJ (4 cases) Essex County, NJ (22 cases) Hudson County, NJ (10 cases) Mercer County, NJ (28 cases) Middlesex County, NJ (26 cases) Somerset County, NJ (87 cases) Bronx County, NY (16 cases) Kings County, NY (30 cases) Madison County, NY (19 cases) Nassau County, NY (17 cases) New York County, NY (22 cases) Onondaga County, NY (27 cases) Queens County, NY (24 cases) Richmond County, NY (7 cases) Suffolk County, NY (4 cases) Ulster County, NY (25 cases) Westchester County, NY (22 cases) Currituck County, NC (58 cases) Pitt County, NC (41 cases) Watauga County, NC (60 cases) Butler County, OH (30 cases) Geauga County, OH (10 cases) Hancock County, OH (28 cases) Knox County, OH (51 cases) Lake County, OH (10 cases) Lucas County, OH (36 cases) Montgomery County, OH (32 cases) Creek County County, OK (15 cases) Tulsa County, OK (40 cases) Lane County,County, OR (71 cases) Allegheny County County, PA (39 cases) Chester County, PA (39 cases) Luzerne County, PA (33 cases) Philadelphia County, PA (17 cases) Snyder County, PA (54 cases) Washington County, PA (18 cases) Lexington County, SC (26 cases) Richland County, SC (50 cases) Minnehaha County, SD (63 cases) Bledsoe County, TN (66 cases) Harris County, TX (71 cases) Jones County, TX (8 cases) Taylor County, TX (28 , ases) Salt Lake County,UT (66, cases) Fairfax County, VA (22 cases) Hanover County, VA (14 cases) Henrico County, VA (8 cases) Fairfax (independent city), VA (12 cases) Richmond (independent city), VA (14 cases) King County, WA (27 cases) Whatcom County, WA (49 cases) Kanawha County, WA (43 cases) Sheboygan County, WI (35 cases) high-income sample (438 cases)

B5704

COUNTY POPULATION The county population as measured in the 1980 Census. xxxxxxxx. population (4,377 to 7,577,503) 0. high-income sample (438 cases)

B5705

PERCENTAGE CHANGE IN POPULATION. Simple percentage change in the county's population between the 1970 and 1980 Censuses. xxxx. percentage change times ten (-272 to 1,307)

B5706 TOTAL HOUSEHOLDS. The total number of households in the county as measured in the 1980 Census. A housing unit is defined as a house, an apartment, a group of rooms, or a single room occupied as separate living quarters. The occupants of a housing unit may include one or more families living together, one person living alone, or any other group of related or unrelated persons. xxxxxxx. total households (1,743 to 2,730,469) 0. high-income sample (438 cases) B5707 FAMILY HOUSEHOLDS. This variable represents households whereby the occupants are related by birth, marriage, or adoption and live together as one houshold. Given for the county as of the 1980 Census. xxxxxxx. total family households (1,255 to 1,811,587) 0. high-income sample (438 cases) B5708 NON-FAMILY HOUSEHOLDS. This variable represents the number of households where the occupants are unrelated by birth, marriage, or adoption, but live together as one household. It is the difference between total households and family households (B5706-B5707). xxxxxx. total non-family households (488 to 918,882) 0. high-income sample (438 cases) B5709 POPULATION BY RACE - WHITE. The population by race variables are percentages of the total population in the county in 1980. They reflect self-identification by the respondents. The White population includes persons identifying themselves as White, as well as persons who did not classify themselves under a specific category, but entered a nationality such as Canadian, German, or Polish. xxxx. percentage of population that is white times 100 (2737 to 9966) 0. high-income sample (438 cases) B5710 POPULATION BY RACE - BLACK.

Percentage of persons in the county who were black in the 1980 Census. The black population includes persons identifying themselves as black, as well as persons who did not classify themselves under a specific category, but entered a nationality such as black Puerto Rican, Haitian, Jamaican, Nigerian, or West Indian. xxxx. percentage of population that is black times 100 (8 to 7024) 0. high-income sample (438 cases) B5711 POPULATION BY RACE - SPANISH ORIGIN. Percentage of persons in the county of Spanish origin in 1980 Census. The Spanish population includes persons identifying themselves as Mexican, Puerto Rican, Cuban, or other Spanish. xxxx. percentage of population that is Spanish times 100 (18 to 3568) 0. high-income sample (438 cases) B5712 POPULATION BY AGE - 65 YEARS OLD AND OLDER. The percentage of persons in the county 65 years old in the 1980 Census. xxx. percentage of population 65 years old and older times ten (45 to 300) 0. high-income sample (438 cases) B5713 POPULATION BY SEX - MALES. The percentage of persons in the county in the 1980 Census who were male. xxx. percentage of population that is male times ten (450 to 529) 0. high-income sample (438 cases) B5714 MEDIAN AGE. The median age of the population in the county in 1980 Census. xxx. median age times ten (245 to 498) 0. high-income sample (438 cases) B5715 MARRIED COUPLES. The percentage of married couples out of total family households (B5707) as measured for the county in the 1980 Census. xxx. percentage of married couples times ten (560 to 920) 0. high-income sample (438 cases) B5716 FEMALE-HEADED OF HOUSEHOLDS. The percentage of female-headed (no husband or partner present) households among all family households (B5707) for the county in 1980. xxx. percentage of female-headed households times ten (53 to 365)

0. high-income sample (438 cases) B5717 URBAN POPULATION. This variable represents the percentage of total persons living in a Census-defined urban area within the county in 1980. xxxx. percentage of urban population times ten (153 to 1000) 0. none, high-income sample (609 cases) Mobility B5718 NON-MOVERS. This and the following variables characterize the residential mobility of the population between 1975 and 1980 as measured by the 1980 Census. The data are based on a sample of persons 5 years old and over and represent the percent of the population that lived in a different house or apartment on April 1, 1975, than on April 1, 1980. Items are measured for the county. This particular variable represents the percentage of the population that lived in the same house or apartment in 1975 and 1980. xxx. percentage of non-movers times ten (368 to 756) 0. high-income sample (438 cases) B5719 MOVING IN THE SAME COUNTY. The percentage of the population that lived in a different house but in the same county in 1975. xxx. percentage of movers in the same county times ten (37 to 349) 0. high-income sample (438 cases) B5720 MOVING IN THE SAME STATE. The percentage of the population that lived in a different county but in the same state in 1975. xxx. percentage of movers in the same state times ten (20 to 322) 0. high-income sample (444 cases) B5721 MOVING IN DIFFERENT STATE. The percentage of the population that lived in a different state or abroad in 1975. xxx. percentage of movers from different states times ten (32 to 298) 0. high-income sample (438 cases) Vital Statistics B5722 BIRTH RATE. The number of births in the county per 1000 resident population as of April 1, 1980.

xxx. birth rate times ten (55 to 268) 0. high-income sample (438 cases) B5723 BIRTH RATE TO MOTHERS UNDER 20 YEARS OLD The number of births in the county per 1000 resident population to mothers under the age of 20 as of April 1, 1980. xxx. birth rate to mothers under 20 years old times ten (33 to 353) 0. high-income sample (438 cases) Housing B5724 MEDIAN VALUE OF OWNER-OCCUPIED HOUSING UNITS. This variable is based on the owner's estimate of the value of property if it was for sale. Given for the county as of the 1980 Census. xxxxxx. dollars (18,800 to 124,400) 0. high-income sample (438 cases) B5725 MEDIAN GROSS RENT OF RENTER-OCCUPIED HOUSING UNITS. This variable is based on contract rent per month plus the average estimated monthly utility costs paid by the renter or by someone else for the renter. Given for the county as of the 1980 Census. xxx. dollars (109 to 358) 0. high-income sample (438 cases) Income B5726 MEDIAN HOUSEHOLD INCOME. Household income is total money income received during the 1979 calendar year by all household members 15 years old and over and by persons living alone and in other non-family households. This is the median for the county as of the 1980 Census. xxxxx. dollars (7,780 to 30,011) 0. high-income sample (438 cases) B5727 MEDIAN FAMILY INCOME. Family income includes total money income received by allhousehold members 15 years old and over who are related by blood, marriage, or adoption. This is the median for the county as of the 1980 Census. xxxxx. dollars (10,388 to 33,702) 0. high-income sample (438 ca, es) B5728 FAMILIES BELOW POVERTY LEVEL. Percentage of families in the county with a 1979 family income

below the poverty threshold, which is determined by family size, age of householder, and number of related children under 18 years old. Taken from 1980 Census. xxx. percentage of familes below poverty level times ten (23 to 345) 0. high-income sample (438 cases) B5729 FEMALE-HEADED FAMILIES BELOW POVERTY LEVEL. Percentage of families in the county headed by females (no husband or partner present) having a 1979 family income below the poverty threshold. The poverty threshold is determined by the family size, age of householder, and number of related children under 18 years old. xxx. percentage of female-headed families below poverty level times ten (108 to 650) 0. high-income sample (438 cases) B5730 PER CAPITA PERSONAL INCOME. The average income per-person in the county as estimated on July 1, 1981. xxxxx. dollars (5,222 to 17,903) 0. high-income sample (438 cases) B5731 PER CAPITA TRANSFER PAYMENTS. This is per-captita transfer payments not resulting from current production and including government and business transfer payments. xxxxxx. dollars (669 to 149,551) 0. high-income sample (438 cases) B5732 PER CAPITA MONEY INCME. Per capita 1979 money income as measured by the 1980 Census for the county. xxxxx. dollars (4011 to 12,335) 0. high-income sample (438 cases) Employment B5733 TOTAL CIVILIAN LABOR FORCE - 1982. Based on data from the US Bureau of Labor Statistics (BLS). xxxxxxx. persons (1,998 to 3,784,000) 0. high-income sample (438 cases) B5734 UNEMPLOYMENT RATE - 1982. Based on the BLS definition of unemployment. county as of 1982.

Measured for the

xxx. unemployment rate time ten (25 to 224) 0. high-income sample (438 cases) B5735 TOTAL CIVILIAN LABOR FORCE - 1980. Based on data from the US Bureau of Census and includes employed and unemployed civilians. xxxxxxx. persons (1,951 to 3,705,516) 0. high-income sample (438 cases) B5736 CIVILIAN LABOR FORCE - FEMALE. Females as a percentage of the civilian labor force in the 1980 Census. xxx. percentage female times ten (330 to 511) 0. high-income sample (438 cases) B5737 UNEMPLOYED. The unemployed as a percentage of the civilian labor force in the 1980 Census. xxx. percentage unemployed times ten (16 to 169) 0. high-income sample (438 cases) B5738 EMPLOYED IN MANUFACTURING. Percentage of the county civilian labor force employed in the manufacturing sector according to the 1980 Census. xxx. percentage employed in manufacturing times ten (38 to 432) 0. high-income sample (438 cases) B5739 EMPLOYED IN WHOLESALE AND RETAIL TRADE. Percentage of the county civilian labor force employed in the wholesale and retail trade sector according to the 1980 Census. xxx. percentage employed in wholesale and retail trade times ten (117 to 261) 0. high-income sample (438 cases) B5740 EMPLOYED IN PROFESSIONAL AND RELATED SERVICES. Percentage of the county civilian labor force employed in the professional and related services according to the 1980 Census. xxx. percentage employed in professional and related services times ten (135 to 363) 0. high-income sample (438 cases) B5741 ANNUAL WAGE IN MANUFACTURING. Determined from the 1977 Census estimates of the county's annual payroll in manufacturing and the number of manufacturing employees.

xxxxx. dollars (7,333 to 19,990) -9. too few manufacturing employees to calculate (404 cases) 0. high-income sample (438 cases) B5742 ANNUAL WAGE IN WHOLESALE TRADE. Determined from the 1977 Census estimates of the county's annual payroll in wholesale trade and the number of employees in wholesale trade. xxxxx. dollars (6,481 to 17,649) -9. too few wholesale trade employees to calculate (82 cases) 0. high-income sample (438 cases) B5743 ANNUAL WAGE IN RETAIL TRADE. Determined from the 1977 Census estimates of the county's annual payroll in retail trade and the number of employees in retail trade. xxxx. dollars (4,242 to 8,300) 0. high-income sample (438 cases) B5744 ANNUAL WAGE IN SELECTED SERVICE INDUSTRIES. Determined from the 1977 Census estimates of the county's annual payroll in the service industry and the number of employees in it. Service industry includes any "for-profit" establishments that are subject to Federal income tax. xxxxx. dollars (2,532 to 15,080) 0. high-income sample (438 cases) B5745 FARM POPULATION. Based on the 1980 Census, this variable includes all persons living in rural areas of the county on farms as of April 1, 1980. xxxxx. persons (8 to 14309) 0. none, high-income sample (692 cases) B5746 EARNINGS PER FARM POPULATION. Determined from B.E.A. estimates of farm earnings in 1980. Farm earnings include the income of farm workers (wages, salaries, and other labor income) and farm proprietors. Farm proprietors' income includes only the income of sole proprietorships and partnerships. xxxxxx. dollars (-3,490 to 585,507) 0. none, high-income sample (692 cases) Local Government Finances B5747 PER CAPITA PROPERTY TAXES. Based on 1977 Census data. These are taxes conditioned on

ownership of property and assessed by its value. xxx. dollars (43 to 771) 0. none, high-income sample (507 cases) B5748 PER CAPITA SALES AND GROSS RECEIPTS TAX. Based on 1977 Census data. These are taxes based on volume or value of transfers of goods and services, on gross receipts, or on gross income, and related taxes based on use, storage, production, importation or consumption of goods. xxx. dollars (1 to 829) 0. none, high-income sample (1179 cases) B5749 PER CAPITA GENERAL EXPENDITURES. Data based on 1977 Census. xxxx. dollars (315 to 7,176) 0. none, high-income sample (507 cases) B5750 THREE DIGIT PRIMARY SAMPLING UNIT (PSU) CODE 1. The hundereds' digit identifies the major geographic region. 2. The tens' digit is used in combination with the hundreds' digit to uniquely identify a PSU. 3. The digit of units' place is based on the population density or degree of urbanization. xxx. primary sampling unit code (1 to 995) 0. high-income sample (438 cases) B5751 1970 CENSUS TRACT xxxxxx. census tract (100 to 950500) -9. unknown (7 cases) 0. untracted area, high-income sample (1671 cases) B5752 ONE DIGIT PLACE CODE. SMSA's 1. Central Cities, SELF-REPRESENTING PSU's 2. Cities of 50,000 population or more, excluding Central Cities of SELF-REPRESENTING PSU's, but including Central Cities of nonself-representing PSU'S, even when the city has less than 50,000 population. 3. Census Places with populations of 10,000 through 49,999, excluding Central Cities in the "thousand's" series above. 4. Census Places 2,500 ,through 9,999. 5. Census Tracts classified by Sampling Section as URBAN. 6. Census Tracts classified by Sampling Section as RURAL. NON-SMSA's 7. Census Places 10,000 through 49,999 8. Census Places 2,500 through 9,999 9. Remainder of non-SMSA PSU 0. high-income sample (438 cases)

B5753 FIVE DIGIT PLACE CODE. The first three digits are the PSU code (B5750). The fourth digit is the place code (B5752). The fifth digit designates codes for individual places. xxxxx. code (100 to 99550) 0. high-income sample (438 cases) APPENDIX Listings of 1970 and 1980 Census Occupation and Industry Classification Codes (see appendix)