Dear all
I have a dataset with equality based on the below formula
Income+borrowings=consumption+savings.
Assume I have a panel of households. I would like to winsorize all the 4 variables within some range (1 99 or 5 95) maintaining the equality post-winsorization. That is, my equality should not be affected by winsorization, but at the same time, I need to deal with outliers.
Is it possible to winsorize in such manner? Any advice in this regard will be highly helpful to me. Sorry if I am asking a naive question