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Support #1992

household income

Added by Aelen Valen 4 months ago. Updated 7 days ago.

Status:
Resolved
Priority:
High
Assignee:
-
Category:
Income
Start date:
11/08/2023
% Done:

100%


Description

Hello,

I'm using Understanding Society together with Eu SILC and I was wondering whether w_fihhmnnet1_dv+ (*12 months) corresponds to the total disposable income in EUSILC (HY020) which is derived as follows:

Total disposable household income (HY020) can be computed as:
- the sum for all household members of gross personal income components
gross employee cash or near cash income (PY010G),
- company car (PY021G),
- gross cash benefits or losses from self-employment (including royalties) (PY050G),
- pensions received from individual private plans (other than those covered under ESSPROS) (PY080G),
- unemployment benefits (PY090G),
- old-age benefits (PY100G),
- survivor' benefits (PY110G),
- sickness benefits (PY120G),
- disability benefits (PY130G),
- education-related allowances (PY140G);
plus gross income components at household level
- income from rental of a property or land (HY040G),
- family/children related allowances (HY050G),
- social exclusion not elsewhere classified (HY060G),
- housing allowances (HY070G),
- regular inter-household cash transfers received (HY080G),
- interests, dividends, profit from capital investments in unincorporated business (HY090G),
- income received by people aged under 16 (HY110G));
- minus
- regular taxes on wealth (HY120G),
- regular inter-household cash transfer paid (HY130G),
- tax on income and social insurance contributions (HY140G).

Many thanks for the support!!!

#1

Updated by Understanding Society User Support Team 4 months ago

  • Category set to Income
  • % Done changed from 0 to 80
  • Private changed from Yes to No

Hello,

w_fihhmnnet1_dv+ is the net household monthly income. It is the sum of net monthly incomes from all household members (including proxies and within household non-respondents, see w_fimnnet_dv+). It can be decomposed into the six subcomponents: net labour income (w_fihhmnlabnet_dv+), miscellaneous income (w_fihhmnmisc_dv), private benefit income (w_fihhmnprben_dv), investment income (w_fihhmninv_dv), pension income (w_fihhmnpen_dv), and social benefit income (w_fihhmnsben_dv). The six subcomponents map to the six subcomponents of individual net income. For a more detailed discussion of these subcomponents please see the working paper "Understanding Society and its income data", section 5.2. INDIVIDUAL INCOME VARIABLES (understandingsociety.ac.uk/sites/default/files/downloads/working-papers/2019-08.pdf).
We leave the decision about the comparability of UKHLS variables with external measures to researchers.

I hope it helps.

Best wishes,
Piotr Marzec,
UKHLS User Support

#2

Updated by Understanding Society User Support Team 4 months ago

  • Status changed from New to Feedback
#3

Updated by Understanding Society User Support Team 7 days ago

  • Status changed from Feedback to Resolved
  • % Done changed from 80 to 100

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