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Confirm how Zewde estimated AGI from SCF #5

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MaxGhenis opened this issue Jul 2, 2021 · 0 comments
Open

Confirm how Zewde estimated AGI from SCF #5

MaxGhenis opened this issue Jul 2, 2021 · 0 comments

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@MaxGhenis
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Zewde's appendix "AGI vs. SCF" states that "AGI and household income reported in our SCF data" but does not specify the income concept used in the analysis.

Johnson and Moore say "households [in the SCF] are questioned about their Adjusted Gross Income." However, the SCF summary file doesn't have AGI, nor does the full codebook include the terms agi or adjusted gross income.

None of the other income concepts (all from the 2019 summary file) produced Zewde's $876 billion estimate:

  • income (total income) produced $733 billion
  • income - transfothinc (non-transfer income) produced $785 billion
  • wageinc + kginc (wage and capital gains income) produced $1,273 billion
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