In 2003, the BEA undertook comprehensive revisions of all NIPA data series. This resulted in a number of changes of data classification and data measurement that affect the estimated cointegrating coefficients in CAY. We describe below the revisions as they pertain to series we use to construct nominal, after-tax labor income.

Definition used in 2001 JF paper of after-tax labor income = wages and salaries + transfer payments + other labor income
    - employee contributions for social insurance - taxes

  ** OTHER LABOR INCOME: As of Dec. 2003 "other" labor income was renamed "Employer Contributions for
employee pension and insurance funds". The new "other" labor income is a catch-all residual consisting of unspecified
additional labor income sources, which we do not include. Thus, the new definition (based on 2003 revisions)
of after-tax labor income is:

After-tax labor income (after BEA revisions 2003)  = wages and salaries + transfer payments + employer contributions for employee pensions and insurance - employee contributions for social insurance - taxes

  **EMPLOYEE CONTRIBUTIONS FOR SOCIAL INSURANCE = contributions for government social insurance - employer contributions for government social insurance.

  ** PERSONAL TAX AND NONTAX PAYMENTS:    AS OF DEC. 2003, "personal tax and nontax payments" was renamed "personal current taxes." Thus, the new definition of taxes is

   Taxes = [ wages and salaries / (wages and salaries + proprietors' income with IVA and Ccadj
            + rental income + personal dividends + personal interest income)]
            * personal current taxes