Description
Return supplied foregone-income and childcare net-cost terms.
Demographic economic terms combine population, monetary flows, taxes and discount conventions. A local cohort contribution or supplied income comparison is not a complete fiscal projection, benefit entitlement or individual financial forecast.
Return supplied foregone-income and childcare net-cost terms.
When to use this tool
Use Fertility Income Opportunity Cost Term when checking one declared cohort financial or fiscal contribution.
How to use the tool and how it works
- Enter foregoneHours, hourlyEarnings, retainedEarningsFraction, childcareCost, benefit. Use the units and conventions below.
- Run the tool. Correct any format, range, or cross-field input error before interpreting the output.
- Read foregoneIncome, netCost. Use the output convention below.
Return supplied foregone-income and childcare net-cost terms. Require nonnegative hours, earnings, childcare cost and benefit and retainedEarningsFraction in [0,1]; foregoneIncome = hours*earnings*(1-retainedFraction), netCost adds childcare and subtracts benefit.1
| Input field | Meaning and units | Accepted input |
|---|---|---|
| foregoneHours | Foregone Hours Unit: h. | Required. Finite number; minimum 0. |
| hourlyEarnings | Hourly Earnings | Required. Finite number; minimum 0. |
| retainedEarningsFraction | Retained Earnings Fraction | Required. Finite number; minimum 0; maximum 1. |
| childcareCost | Childcare Cost | Required. Finite number; minimum 0. |
| benefit | Benefit | Required. Finite number; minimum 0. |
| Output field | Interpretation | Returned shape |
|---|---|---|
| foregoneIncome | Foregone Income | Required. Finite number. |
| netCost | Net Cost | Required. Finite number. |
{
"input": {
"foregoneHours": 100,
"hourlyEarnings": 20,
"retainedEarningsFraction": 0.25,
"childcareCost": 500,
"benefit": 100
},
"output": {
"foregoneIncome": 1500,
"netCost": 1900
}
}Limitations and assumptions
- This monetary model is not fertility advice, a complete opportunity cost or an actual benefit entitlement.
- Inputs must satisfy both the field types and the cross-field conditions above. Invalid input causes an error; a successful false flag or documented placeholder is a different result.
- Numeric calculations use binary floating point unless exact decimal-integer arithmetic is explicitly stated. No hidden measurement tolerance or decimal rounding is added; nonfinite or out-of-contract results are rejected. Numeric signed-zero results are exported as zero.
Alternative or Complementary methods
Use complete population accounts, applicable policy and justified economic assumptions before making financial or public-policy decisions.
References
Similar or alternative tools
- Eldercare Opportunity Cost Hour Term
Compare replacement-cost and foregone-wage eldercare valuations.
- Household Composition Housing Cost Share
Return housing cost share and equivalized housing cost.