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Dynamic Microsimulation: A Methodological Survey

Author

Listed:
  • Cathal O'Donoghue

    (London School of Economics, University of Cambridge)

Abstract

This paper describes some of the issues related to constructing a dynamic microsimulation model. The paper considers the principle choices facing the model builder. These choices are whether the model should be probabilistic or incorporate behavioural response, whether model runs in discrete or continuous time, whether the model is open or closed, the extent to which static or dynamic ageing should be used, the decision to run the model in a steady state and the distinction between cohort and population models. Finally, the paper carries out a literature survey of the principle models around in the world classify them by the decisions made under these headings.

Suggested Citation

  • Cathal O'Donoghue, 2001. "Dynamic Microsimulation: A Methodological Survey," Brazilian Electronic Journal of Economics, Department of Economics, Universidade Federal de Pernambuco, vol. 4(2), December.
    • Handle: RePEc:bej:issued:v:4:y:2001:i:2:cathal
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    Citations

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    Cited by:

    1. M. Scarlato & M. Cenci, 2004. "Innovazione tecnologica e offerta di skills:una simulazione," Computational Economics 0401003, University Library of Munich, Germany.
    2. van Sonsbeek, J.M. & Gradus, R.H.J.M., 2006. "A microsimulation analysis of the 2006 regime change in the Dutch disability scheme," Economic Modelling, Elsevier, vol. 23(3), pages 427-456, May.
    3. Vaqar Ahmed & Cathal O'Donoghue, 2009. "Redistributive Effect of Personal Income Taxation in Pakistan," Working Papers 0143, National University of Ireland Galway, Department of Economics, revised 2009.
    4. Roberto Leombruni & Matteo Richiardi, 2006. "LABORsim: An Agent-Based Microsimulation of Labour Supply – An Application to Italy," Computational Economics, Springer;Society for Computational Economics, vol. 27(1), pages 63-88, February.
    5. Juan Prieto-Rodriguez & Desiderio Romero-Jordan & Jose Felix Sanz-Sanz, 2004. "Is A Tax Cut On Cultural Goods Consumption Actually Desirable?:A Microsimulation Analysis," Public Economics 0402001, University Library of Munich, Germany, revised 06 Feb 2004.
    6. John Creedy & Guyonne Kalb, 2005. "Behavioural Microsimulation Modelling With the Melbourne Institute Tax and Transfer Simulator(MITTS) : Uses and Extensions," Department of Economics - Working Papers Series 932, The University of Melbourne.
    7. O'Donoghue, Cathal & Immervoll, Herwig, 2001. "Towards a multi purpose framework for tax benefit microsimulation," EUROMOD Working Papers EM2/01, EUROMOD at the Institute for Social and Economic Research.
    8. Margherita Borella & Flavia Coda Moscarola, 2006. "Distributive Properties of Pensions Systems: A Simulation of the Italian Transition from Defined Benefit to Notional Defined Contribution," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 65(1), pages 95-126, May.
    9. John Creedy & Guyonne Kalb, 2005. "Behavioural Microsimulation Modelling for Tax Policy Analysis in Australia: Experience and Prospects," Australian Journal of Labour Economics (AJLE), Bankwest Curtin Economics Centre (BCEC), Curtin Business School, vol. 8(1), pages 73-110, March.
    10. Sharyn Lymer & Alan Duncan & Laurie Brown, 2011. "Moving Beyond Comparative Validation: Predictive Abilities of APPSIM's Health Module," NATSEM Working Paper Series 11/10, University of Canberra, National Centre for Social and Economic Modelling.

    More about this item

    Keywords

    Microsimulation; Model Construction and Estimation;

    JEL classification:

    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation

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