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A Review of Income Concepts
Used in Economic Analysis


May 1977

Prepared by:
R. William Thomas
Abt Associates

Prepared for:
Office of the Assistant Secretary for Planning and Evaluation
Department of Health, Education, and Welfare

Contract:  HEW-100-76-0179

Each chapter of the Report is in PDF format.  Download a copy of the reader.

Preface, Acknowledgements, and Table of Contents (PDF format, 80kb)

Chapters:

  1. Introduction (PDF format, 467kb)
    1. Increased Need for Income Data
    2. Overview
    3. Economic Model of the Household
    4. Summary of Included Transactions
    5. Summary of Analytic Units and Accounting periods
    6. References to Chapter I
  2. Consumption and Saving (PDF format, 328kb)
    1. The Concept of Income in the consumption Function
    2. Modern Extensions of Consumption Theory
    3. Impact of Wealth on Consumption
    4. Allocation of Saving Among Financial and Real Assets
    5. Dynamic Models of Consumer Behavior
    6. Extensions of Consumer Demand Theory:  Current and Future Trends
    7. Summary:  Data Requirements in the Area of Consumption and Saving Behavior
    8. Selected Bibliography for Chapter II
  3. Production Theory (PDF format, 558kb)
    1. Labor Supply
    2. Demand Factors
    3. Education and Earnings
    4. Home Production
    5. Fertility and Child Care
    6. Summary:  Data Requirements Stemming from Advances in Production Theory
    7. Selected Bibliography for Chapter III
  4. Income Distribution and Redistribution (PDF format, 799kb)
    1. Size Distribution of Income
    2. Theoretical Treatment of Income Distribution
    3. Taxable income Concepts
    4. Redistribution of Income
    5. Income In-Kind
    6. Summary
    7. Selected Bibliography for Chapter IV
  5. Economic Well-Being (PDF format, 216kb)
    1. Specific Approaches to measuring Economic Well-Being
    2. Determining an Index of Need
    3. Combining Income and Wealth
    4. Adjustment for Leisure
    5. Summary
    6. Selected Bibliography for Chapter V
  6. Social Accounts (PDF format, 155kb)
    1. National Income Accounts
    2. Revisions Suggested for the National Income and Product Accounts
    3. Summary
    4. Selected Bibliography for Chapter VI

Appendices:

  1. Definitions of Components of Income, Expenditures, Assets, and Liabilities (PDF format, 228kb)
  2. Consolidated Bibliography (PDF format, 493kb)

Where to?

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