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KMID : 1124020100260030001
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Korean Social Security Studies
2010 Volume.26 No. 3 p.1 ~ p.24
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Estimating the Consumption-based Income of Low Income Families in Korea
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Kang Shin-Wook
Kim Hyun-Sook
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Abstract
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This paper calculates the estimated income of low income family based on consumer demand function in Korea. The income estimates as well as total consumption and reported income can enforce the income test criteria for social welfare beneficiaries. We use the samples of lower 75% income class and households with more than 1 member in 2008 household survey and estimate their income using 2SLS method. The results show that the families with mostly non-labor income under-report their income up to 47%. We suggest that the income test for social welfare beneficiaries should use the maximum value among total consumption expenditures, reported income and the lower bound of estimated income.
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KEYWORD
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income estimates of Low income families, consumption function, social welfare recipients
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