INVISIBLE INCOME Definition

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INVISIBLE INCOME is foreign income from sources other than the movement of goods; can include earnings from tourism, banking, shipping, insurance and investment.

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EARNING QUALITY is best determined through the inverse relationship between the amount of time elapsed between revenue recognition and cash collection.

CONSUMPTION SMOOTHING is aimed at protecting consumption patterns from the impact of shocks, and can take effect either before or after their occurrence. Post-shock responses include modifying consumption, raising income by mobilizing labor or selling assets, drawing on informal or formal sources of savings, or activating claims on informal insurance mechanisms.

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