British Household Panel Survey

Background

The British Household Panel Survey (BHPS) was a longitudinal study initiated in the United Kingdom that aimed to collect comprehensive data from households over an extended period. It tracked changes and provided insights into various aspects of life, such as living conditions, health, employment, income, and social mobility.

Historical Context

Conducted annually from 1991 until 2009, the BHPS was managed by the Institute for Social and Economic Research (ISER) at the University of Essex. The survey’s consistency facilitated the observation of long-term trends within UK households, contributing significantly to socioeconomic research and policy-making.

Definitions and Concepts

The BHPS involves the systematic collection of various data points across different domains:

Demographics: Information related to age, gender, ethnicity, marital status, and household composition.
Economic Variables: Measures of income, employment status, job characteristics, and housing conditions.
Social Variables: Data on education, training, health status, and personal values and attitudes.

Major Analytical Frameworks

Classical Economics

Classical economists might utilize BHPS data to examine labor market dynamics, wealth distribution, and household savings, staying true to the school’s focus on productivity and capital accumulation.

Neoclassical Economics

Neoclassical frameworks could leverage the BHPS to model individual behaviors and preferences, making use of data on consumption, utility, and household decision-making processes.

Keynesian Economics

Keynesians may focus on the survey’s economic variables to analyze macroeconomic phenomena like unemployment rates and income inequality, integrating these insights into their models of aggregate demand and fiscal policy.

Marxian Economics

Marxian economists can use BHPS data to scrutinize class structures and the distribution of wealth and power within society, analyzing the implications for labor exploitation and social inequality.

Institutional Economics

The rich dataset on education, training, and health would be of interest to institutional economists studying the role of social institutions and their impact on economic performance and individual well-being.

Behavioral Economics

Behavioral economists might use the BHPS to explore deviations from the rational actor model, examining how psychological and social factors influence economic decisions at the household level.

Post-Keynesian Economics

Post-Keynesians could focus on income distribution and the dynamics of financial insecurity, utilizing the longitudinal nature of the BHPS to study the long-term sustainability of economic policies and practices.

Austrian Economics

Austrian economists may find the individual level data from the survey valuable for understanding entrepreneurial decisions, opportunity discovery, and spontaneous order in economic behavior.

Development Economics

Given its comprehensive nature, the BHPS can serve development economists in exploring socio-economic mobility, access to education, and health outcomes as critical factors for long-term development and welfare improvements.

Monetarism

Monetarists might draw on the economic data from the BHPS to analyze the effects of monetary policy on household savings, investment behaviors, and inflation expectations.

Comparative Analysis

The BHPS was later integrated into the broader Understanding Society survey, providing a larger comparative framework. Researchers often compare findings from the BHPS with those from other international longitudinal surveys like the PSID in the United States or the German Socio-Economic Panel (GSOEP) to derive comparative insights across different socio-economic contexts.

Case Studies

Changes in Employment Patterns: The BHPS data has provided insights into labor market transformations and the rise of precarious employment.
Income Inequality: Analyses of household income trends over the survey period have informed debates on widening economic disparities in the UK.
Health and Well-Being: Longitudinal data provided by the BHPS has enabled extensive research into the correlations between income, lifestyle changes, and health outcomes.

Suggested Books for Further Studies

“Understanding Society: Findings from the British Household Panel Survey” by various authors.
“Analyzing Longitudinal Data on Household Economic Behavior: Contributions from the British Household Panel Survey” edited by Stephen P. Jenkins.

Longitudinal Study: Research that follows the same subjects over a period of time, observing changes and development.
Socio-economic Variables: A set of factors that include both social and economic characteristics, such as income, education, and occupation.
Household Composition: The makeup or structure of a household in terms of the relationships and number of individuals living in it.