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Welcome to the 2017 AFS Annual Meeing, being held this year, in conjunction with FPA in Nashville!
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Monday, October 2 • 4:30pm - 5:30pm
J2a Changes in Household Normal Income

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Do households perceive their normal income to be stable, as implied by discussion of the concept of normal income in the economics literature?  We analyzed the 2007-2009 Survey of Consumer Finances panel dataset, and found that many households had substantial increases or decreases in the level they reported for normal income, with 10% of households reporting increases of 78% or more, and 10% of households reporting decreases of 44% or more. Based on descriptive patterns and a quantile regression on the percentage change in normal income, households do not seem forward-looking in stating the level of household normal income.

Author(s): Sherman D. Hanna, Kyoung Tae Kim, Ph.D., Eunice Jiyhyun Hong

avatar for Sherman Hanna, Ph.D.

Sherman Hanna, Ph.D.

Professor, Ohio State University

Monday October 2, 2017 4:30pm - 5:30pm

Attendees (2)