FY23_SOW Income Flow Data.pdf

Statement of Work for Purchase of Income Flow Data

1. INTRODUCTION AND BACKGROUND

The Bureau of Economic Analysis (BEA), as one of the world’s leading statistical agencies, collects source data, conducts research and analysis, develops and applies methods for constructing economic statistics, and disseminates statistics to the public. BEA publishes statistics covering a variety of sectors of the economy and topics, for example, to assess economic activity at state and regional levels, including measuring personal income for the U.S. as a whole and by state. Recently, BEA provided prototype statistics detailing the distribution of personal income at the national level. At present, nationally representative data is available for most income sources with a 1–2-year lag. However, these statistics do not provide information on the distributions of personal income within states, and while BEA is currently developing methods to construct such state-level distributional statistics, these statistics are not yet ready for publication.

BEA is seeking out alternative data sources to meet two goals. First, BEA is searching for new individual or household microdata sources that can provide information about components of personal income in order to improve the accuracy and timeliness of the prototype statistics. Second, BEA is searching for microdata that are appropriate for constructing income distribution statistics for states.

2. SCOPE

The objective of this data acquisition is to procure microdata that provide timely information about individuals’ (or households’) incomes, including information on labor, capital and transfer sources of income.

Specifically, BEA seeks income data that:

• are available at either the de-identified individual or household level with a state of residence geographic identifier

• provide information on as many sources of income as possible, e.g., wages and salaries, interest and dividend income, social security income, and transfer income

• are as representative of the U.S. population as possible

• are as timely as possible (i.e., there is a minimal lag between the end of the period that the data covers and the availability of the data)

• preferably covers years since year= 2000

3. DELIVERABLES/OUTCOME

The Contractor will:

• Provide access to data through direct transfer of data files and/or provide an online portal or website to facilitate download of the files

• Update data annually with a limited data lag no longer than 60 days

• Provide labor (e.g., wage), capital (e.g., dividends, interest payments), and transfer (e.g., Social security) flows, by month, in dollar amounts

• Provide data with the following specifications:

o Data Update Frequency: Data should track income flows on at least an annual basis o Geography: Microdata which is possible to aggregate to state and national levels.

o Metrics: Income flows (required), time period of income receipt (required), state-level geographic indicator (required), any demographic information possible (optional) o Data Delivery: via S3/File Transfer and online portal, if available.

o The data merchant is not required to reveal source data but should provide a general description of the type of income flow data (e.g., payroll deposits, dividend income, etc.), and should provide a detailed description of geographic and demographic coverage, to assess representativeness.

4. PERIOD OF PERFORMANCE

The Period of Performance will be a base year of 12 months from the date of award and 4 option years.