Study Description

Survey of Financial Characteristics of Consumers, 1962-1963

(Taken in part from the original DPLS Documentation prepared in 1974)

 Catalog Number: CA-008-001-USA-DPLS-1962-1

Type of File: Numeric.

Title: Survey of Financial Characteristics of Consumers, 1962-1963.

Bibliographic Citation: Survey of Financial Characteristics of Consumers, 1962-1963 [machine readable data file]. Principal Investigator, United States Federal Reserve System Board of Governors. 1st DPLS 1974 ed. Washington, D.C.: United States Federal Reserve System Board of Governors [producers], 1963. Madison, WI: University of Wisconsin, Data and Information Services Center [distributor], 1974. 2 data files (5,114 logical records).

Originating Organization or Researcher: Board of Governors of the Federal Reserve System, Washington, D.C.

Date of Study or Data Collection: Spring and Summer, 1963.

Universe to Which Data Pertain: Consumer units (families of two or more plus unrelated individuals) of the civilian noninstitutional population of the United States.

Sample Description: The sample was designed to be representative of all consumer units and at the same time to yield a sizable number of consumer units in the upper income and wealth groups. To obtain a large number of units with substantial amounts of wealth the wealthier consumer units were oversampled. The sample was designed to yield approximately 400 cases in each of 9 strata, the strata being based on 1960 income. In order to obtain the desired 400 cases, the original sample selection in strata 1 through 7 was in excess of 400 units in each stratum. Three basic frames were used for sample selection: (1) housing units enumerated in the 1960 Census of Housing; (2) housing units built since the 1960 Census; (3) person who filed an income tax return with an adjusted gross income of $50.00 or more with the IRS Tax Year 1960. (Sampling selection is detailed in the "Technical Notes" of the publication cited below).

Number of Data Units: 2,557 respondents (there are two data files with a combined total of 5114 logical records); there is a record size of 2000 characters in each file (see Technical Notes below).

Reference Materials: Codebook, Technical Notes and Questionnaire, Survey of Changes in Family Finances, by Dorothy S. Projector, Board of Governors of the Federal Reserve System, (Federal Reserve Technical Papers, 1968), and Survey of Financial Characteristics of Consumers, by Dorothy S. Projector and Gertrude S. Weiss, Board of Governors of the Federal Reserve System, (Federal Reserve Technical Papers, 1966).

Publications: Cited above.

Condition of Data: As received from the Board of Governors.

Abstract of Content: The data file includes variables which measure the size of wealth, diffusion of wealth and debt (home ownership, automobiles, liquid assets, business and profession, investment assets, miscellaneous assets, debts), consumer preferences for holding different assets (composition of wealth and portfolio). Demographic characteristics of the respondent include age, employment status, income, size of family, and age of members of family and unrelated individuals.

Descriptors: Consumer savings, assets, debt, income, net worth, real estate, securities, demographic characteristics, Social Security, employment, Board of Governors of the Federal Reserve System.

Technical Notes: To maintain confidentiality of reported data sample control numbers in the tape have been replaced by simple sequence numbers and narrow geographic lines have been eliminated. Two versions of these data were received; the first version incorporates assigned values for missing items. It does not show any distinction between reported and assigned values. The other version does not have assignments for missing wealth and income items. The record format and sequence of sample cases are identical for both versions. The followup to this study is the Survey of Changes in Family Finances, 1964.

Classification: Unrestricted.