pension {hdm}

Pension 401(k) data set

Description

Data set on financial wealth and 401(k) plan participation

Format

Dataframe with the following variables (amongst others):

p401

participation in 401(k)

e401

eligibility for 401(k)

a401

401(k) assets

tw

total wealth (in US $)

tfa

financial assets (in US $)

net_tfa

net financial assets (in US $)

nifa

non-401k financial assets (in US $)

net_nifa

net non-401k financial assets

net_n401

net non-401(k) assets (in US $)

ira

individual retirement account (IRA)

inc

income (in US $)

age

age

fsize

family size

marr

married

pira

participation in IRA

db

defined benefit pension

hown

home owner

educ

education (in years)

male

male

twoearn

two earners

nohs, hs, smcol, col

dummies for education: no high-school, high-school, some college, college

hmort

home mortage (in US $)

hequity

home equity (in US $)

hval

home value (in US $)

Details

The sample is drawn from the 1991 Survey of Income and Program Participation (SIPP) and consists of 9,915 observations. The observational units are household reference persons aged 25-64 and spouse if present. Households are included in the sample if at least one person is employed and no one is self-employed. The data set was analysed in Chernozhukov and Hansen (2004) and Belloni et al. (2014) where further details can be found. They examine the effects of 401(k) plans on wealth using data from the Survey of Income and Program Participation using 401(k) eligibility as an instrument for 401(k) participation.

References

V. Chernohukov, C. Hansen (2004). The impact of 401(k) participation on the wealth distribution: An instrumental quantile regression analysis. The Review of Economic and Statistics 86 (3), 735–751.

A. Belloni, V. Chernozhukov, I. Fernandez-Val, and C. Hansen (2014). Program evaluation with high-dimensional data. Working Paper.

Examples

data(pension)