Statistics Canada has produced modeled estimates of mean liquid assets of economic families and persons not in economic families at the Census Subdivision (CSD) level. Two data sets were used to obtain the final estimates: the 2016 Survey of Financial Security (SFS) and the 2016 Census of Population.
Note that the data quality of these estimates varies greatly by CSD and in many cases should not be used. These data were acquired as part of a larger investigation into the feasibility of using modeling to fill data gaps.
Liquid assets are defined as follows:
Liquid assets = deposits in banks + financial investments + 0.9* RRSPs,
where financial investments include: a) stocks, b) bonds, c) mutual funds, and d) tax-free savings accounts. A 10% withholding tax is assumed when withdrawing RRSPs, hence the use of the factor 0.9 pre-multiplying RRSPs.
Method 1 and Method 2 - CSD-level estimates were produced using Method 1 - no CSD-level estimates were produced using Method 2
The Census Division level data include two estimates of mean liquid assets of economic families and persons not in economic families:
- Method 1 built the model using all liquid asset estimates from the Survey of Financial Security.
- Method 2 built the model using all liquid asset estimates from the Survey of Financial Security, except for the top 1% of the distribution of liquid assets.
Statistics Canada recommends using the estimates produced by Method 1. The coefficient of variation associated with these estimates was generally lower than with Method 2.