Large income jump between Wave 18 of BHPS and Wave 2 of UKHLS
I have merged data from the BHPS with Understanding Society and have an issue with income data. In BHPS, two of the imputed income variables are for annual labor income and total income (i.e. wfiyrl and wfiyr).
In UKHLS, there are similar variables for monthly labor income and total income (w_fimnlabgrs_dv w_fimngrs_dv). If I multiply these variables by 12 (and exclude values less than zero), I can compute the annual income.
When I do, I find a large jump between the last year of BHPS and Wave 2 of US. For example average total income is 16,674 in the last year of BHPS and 19,053 in the first year of US. Compared to other annual differences, this is very high, even accounting for the two-year gap between 2008 and 201. Could you explain why this might be, and also why there are negative incomes in UKHLS?
Also income appears to be top coded in US. Is there any way to get values that are comparable to wfiyrl and wfiyr in US (i.e. not top coded)? Thanks.