Income

The Metropolitan Statistical Area (MSA) known as Miami Fort Lauderdale
Pompano Beach consistently gains migrants from both the United States and abroad.
However, despite the constant increase in population, the domestic out-migration for
Miami-Dade County has consistently been more than the domestic in-migration.
Recently a similar trend is occurring in Broward and Palm Beach Counties. The
continual gain in population despite the domestic out-migration is mostly due to the large
international in-migration for the region. Using data from the Internal Revenue Service,
this paper discusses the migration of domestic populations and determines if possible new
trends exist for this MSA. Furthermore, income data collected from the IRS was used to
establish any possible relationship between migration and income.

This thesis tests whether a simple income-expenditure
model is a better predictor of induced
expenditure and thus income than a simple quantity
theory model. A spectral analysis was performed
using alternative definitions of money, income and
expenditure. From the results of cross spectral
analysis, it was concluded that the money supply
is the better predictor of short run (8 months -
3 years) fluctuations in consumption and thus in
income.