Survey of Consumer Finances, 1971 (ICPSR 7451)
This data collection is one in a series of financial surveys of consumers conducted annually since 1946. In a nationally representative sample, the head of each family unit was interviewed. Starting in 1966, in order to examine the effect that increased car ownership was having on American families, the data collected in this series were organized so that they could be analyzed by both family unit and car unit. The 1971 data are based on car unit. Survey questions regarding automobiles included number of drivers and car owners in the family, make and model of each car, purchase method, car financing and installment debt, and expectations of car purchases in the coming year. Other questions in the 1971 survey covered the respondent's attitudes toward national economic conditions (e.g., the effect of United States relations with Vietnam, Cambodia, and in the Middle East, inflation and unemployment on United States business) and price activity, as well as the respondent's own financial situation. Other questions examined the family unit head's occupation, and the nature and amount of the family's income, debts, liquid assets, changes in liquid assets, savings, investment preferences, and actual and expected purchases of major durables. In addition, the survey explored the subject of housing and neighborhood characteristics. Questions in this survey also focused on credit card use and purchases. Personal data include age and education of head, household composition, political affiliation, and occupation.
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University of Michigan. Survey Research Center. Economic Behavior Program. Survey of Consumer Finances, 1971. ICPSR07451-v2. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2002. http://doi.org/10.3886/ICPSR07451.v2
Persistent URL: https://doi.org/10.3886/ICPSR07451.v2
This study was funded by:
- Ford Foundation
- National Science Foundation
- Ford Motor Company
- General Motors Corporation
Scope of Study
Subject Terms: automobile ownership, business conditions, consumer attitudes, consumer behavior, consumer expectations, consumer expenditures, credit card use, debt, disposable income, durable goods, economic conditions, families, financial assets, financial balances, home ownership, household budgets, household composition, household expenditures, household income, housing, income distribution, insurance coverage, investments, mortgages, national economy, occupations, outdoor recreation, personal debt, personal finances, prices, savings
Geographic Coverage: United States
Data on a family unit basis have a record for each family, with car information only for the first (usually the newest) car owned. Data on a car unit basis have a record for every car owned by the family. By using a global filter, data on a car unit basis can also be analyzed on a family unit basis. The frequencies in the codebook have been filtered on a family unit basis.
Extent of Processing: ICPSR data undergo a confidentiality review and are altered when necessary to limit the risk of disclosure. ICPSR also routinely creates ready-to-go data files along with setups in the major statistical software formats as well as standard codebooks to accompany the data. In addition to these procedures, ICPSR performed the following processing steps for this data collection:
- Performed consistency checks.
- Standardized missing values.
Original ICPSR Release: 1984-05-11
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