Sofie R. Waltl
University of Cambridge
Judita Jurašeková Kucserová
National Bank of Slovakia
Zuzana Brokešová
University of Economics in Bratislava
Boris Frankovič
Statistical Office of the Slovak Republic
Andrej Cupak
National Bank of Slovakia & University of Economics in Bratislava
Abstract
Wealth surveys systematically under-represent affluent households because wealthy respondents are less likely to participate. We study whether targeted incentives can improve top-tail coverage in the Slovak Household Finance and Consumption Survey (HFCS). Using census data, we pre-identify affluent households and randomly assign them to treatment and control groups. Treated households are offered a limited-edition non-cash participation incentive: a proof-quality silver collector coin. The incentive increases participation by 11–14 percentage points, equivalent to a roughly 40% increase relative to the participation rate among non-incentivized wealthy households, with the largest effects occurring when combined with personal interviewer contact. The treatment disproportionately attracts financially sophisticated households, improving coverage of the upper tail of the wealth distribution without reducing response quality. Incorporating these additional households increases measured mean wealth, raises the wealth Gini coefficient by up to 6.5%, and improves alignment between survey aggregates and National Accounts. Our findings show that fieldwork design and participation incentives materially affect the measurement of wealth inequality and may contribute
to cross-country differences in HFCS-based statistics.
JEL Codes: C83, C93, D31.
Keywords: Wealth survey, missing wealthy households, unit non-response, oversampling, survey experiment, incentives.
Dissemination
Working Paper: [download here]
Presentations (incl. scheduled): [Slovak Economic Association Meeting (SEAM), Bratislava, SK][2nd LIS/III Comparative Economic Inequality Conference, Luxembourg][NBS – National Bank of Slovakia][University of Economics, Bratislava][HFCN meeting, Bank of Greece, Athens][Conference “Inequalities and Opportunities – Insights into wealth, income and education disparities”, University of Bari][International Conference on Wealth Inequality: The Munich International Stone Center for Inequality Research (ISI), LMU Munich][NOeG Winter Workshop, Vienna][CNB – Czech National Bank][Economic Statistics Centre of Excellence (ESCOE) at King’s Business School][39th IARIW General Conference, National Bank of Belgium]
Panel Discussion: Social Situation Monitor (SSM), Brussels
Sofie R Waltl 