Survey of Household Economics and Decisionmaking (SHED) 2020: Supplemental Survey, United States (ICPSR 37921)
Version Date: Feb 2, 2021 View help for published
Principal Investigator(s): View help for Principal Investigator(s)
Board of Governors of the Federal Reserve System (U.S.)
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Summary View help for Summary
Since 2013, the Federal Reserve Board has conducted the Survey of Household Economics and Decisionmaking (SHED), which measures the economic well-being of U.S. households and identifies potential risks to their finances. The survey includes modules on a range of topics of current relevance to financial well-being including credit access and behaviors, savings, retirement, economic fragility, and education and student loans. The Board's seventh annual SHED examines the economic well-being and financial lives of U.S. adults and their families. The 2019 complete survey was conducted in October 2019, offering a picture of personal finances prior to the onset of the COVID-19 pandemic. To obtain updated information in the midst of closures and stay-at-home orders, a smaller supplemental survey was conducted in April 2020, focusing on labor market effects and households' overall financial circumstances at that time. Demographic variables include age, level of education, gender, race, household income, and marital status. Users can use the industry information included in the data to obtain a perspective on financial conditions resulting from COVID-19 for individuals who work in arts and culture related fields.
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Study Purpose View help for Study Purpose
This study measures the economic well-being of U.S. households and identifies potential risks to their finances. The survey includes modules on a range of topics of current relevance to financial well-being including credit access and behaviors, savings, retirement, economic fragility, and education and student loans. To obtain updated information in the midst of closures and stay-at-home orders, a smaller supplemental survey was conducted in April 2020, focusing on labor market effects and households' overall financial circumstances at that time.
Study Design View help for Study Design
The April 2020 survey included 13 questions and was fielded from April 3 through April 6. This survey was also fielded using the Ipsos Knowledge Panel. As such, the same sampling and weighting approaches apply to this survey as applied for the main SHED survey conducted in the fall. However, the sample size, survey length, and incentive structure differed from the main SHED survey. The respondents to the April supplement were drawn from the entire Knowledge Panel and typically did not also complete the fall survey.
Sample View help for Sample
The SHED sample was designed to be representative of adults age 18 and older living in the United States. Because the sample size was large enough to obtain sufficient coverage of low-income populations without an oversample, unlike previous years the 2019 survey did not include a low-income oversample. The Ipsos methodology for selecting a general population sample from Knowledge Panel ensured that the resulting sample behaved as an equal probability of selection method (EPSEM) sample. This methodology started by weighting the entire Knowledge Panel to the benchmarks in the latest March supplement of the Current Population Survey along several geo-demographic dimensions. This way, the weighted distribution of the Knowledge Panel matched that of U.S. adults.
Time Method View help for Time Method
Universe View help for Universe
Adults age 18 and older living in the United States
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Mode of Data Collection View help for Mode of Data Collection
Description of Variables View help for Description of Variables
This study includes variables that ask about respondents' financial situations, their jobs, and demographics, such as race, age, gender, and educational level.
Response Rates View help for Response Rates
Of the 2,853 panel members contacted to take the survey, 1,030 participated, yielding a final stage completion rate of 36.1 percent.Hide
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Version History View help for Version History
2021-02-02 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:
- Created variable labels and/or value labels.
- Created online analysis version with question text.
- Checked for undocumented or out-of-range codes.
Weight View help for Weight
The WEIGHT variable allows for the entire sample to reflect the observable characteristics of the U.S. adult population. It is rescaled to add up to the total population of the U.S. adults eligible for this survey. WEIGHT is for analysis of the combined sample comprised of the main sample and the lower-income oversample. It is scaled to add up to the number of completed responses.Hide