Hill and Hill (2003) develop a seemingly ingenious GDP measure that includes capital gain. This paper proves that such measure is only a manipulation of the capitalization formula, that the measure is cost, not income, and that capital appreciation even raises the cost

In this article we tackle a fundamental problem in tax law: the resistance of the core concept of “income” to a coherent definition. It has long been recognized that there is a substantial gap between the formal definition of income adopted in 1955 by the Supreme Court in Commissioner v....

Deploying data from the German Socio-Economic Panel (GSOEP) we analyze the variability of individual earnings and equivalent household income. Permanent and transitory variances of male income over the period 1984-2008 are estimated for Old German Laender in order to determine their importance...

This paper examines gender differentials in the resources of households and individuals across seven welfare states. In its first part, it asks whether female-headed households can secure a living income without recourse to either the state or the income of a male partner. It then steps inside...

Deploying data from the German Socio-Economic Panel (SOEP) we analyze the variability of individual earnings and equivalent household income. Permanent and transitory variances of male income over the period 1984-2008 are estimated for Old German Laender in order to determine their importance to...

We provide a critique of the methods that have been used to derive measures of income risk and draw attention to the importance of demographic factors as a source of income risk. We also propose new measures of the contribution to total income risk of demographic and labour market factors....

We estimate the trend in the transitory variance of male earnings in the U.S. using the Michigan Panel Study of Income Dynamics from 1970 to 2004. Using both an error components model as well as simpler but only approximate methods, we find that the transitory variance started to increase in the...

We argue that independent entitlement to income is important. This implies that earnings replacement benefits paid to individuals fulfil a range of functions which means-tested benefits, assessed at the family rather than individual level, cannot. The argument also highlights the need to...