An income survey provides a snapshot of income levels for people and households. It gives median and average weekly income from most sources. There are income comparisons across different population groups. Income is only received intermittently, whereas consumption is smoothed over time. As a consequence, it is reasonable to expect that consumption is more directly related to current living standards than current income, at least for short reference periods.
In order to perform shrinkage methods, we will be using a dataset collected on the New Zealand Census 2013.
