Distinction between FTOTVAL and FAMINC?

CPS
1

Can someone explain the distinction between FTOTVAL and FAMINC? I know one is provided at the level at the respondent and the other at the level of the household, but is the different the definition of the family?

2

There are several important distinctions:

  1. FAMINC is a household-level variable which gives the FAMILY income of the householder, for all household members (even ones in a different family from the householder)
  2. FAMINC is a single self-reported value, based on a single question in the CPS survey
  3. FAMINC is grouped into intervals, and respondents choose an interval
  4. FAMINC is asked every month as part of the core CPS survey
  5. FTOTVAL is only available for ASEC samples
  6. FTOTVAL is built up by adding the total incomes of all family members, which are themselves built up from income components.
  7. FTOTVAL is defined for families (rather than households). Its values will only be the same for members of the same family within the household, and pertains to the individual’s own family (not the householder’s family).

Both use the Census definition of families, as captured in FTYPE and FAMREL. This is different from the IPUMS definition, which is captured in FAMUNIT.

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