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A structural dynamic microsimulation model of household savings and labour supply

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  • van de Ven, Justin

Abstract

A structural model of the household is described that represents current best-practice in the analysis of savings and labour supply responses to the policy environment. Care has been taken in specifying the model so that it represents an appropriate basis for the analysis of incentive effects to policy change, and for exploring the empirical support for alternative structural assumptions. Matching the model to survey data for the UK reveals some interesting puzzles in relation to the timing of retirement.

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File URL: http://www.sciencedirect.com/science/article/pii/S0264999311001088
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Article provided by Elsevier in its journal Economic Modelling.

Volume (Year): 28 (2011)
Issue (Month): 4 (July)
Pages: 2054-2070

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Handle: RePEc:eee:ecmode:v:28:y:2011:i:4:p:2054-2070
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/30411

Keywords: Dynamic programming Savings Labour supply Taxes and benefits;

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Cited by:

  1. Gahramanov, Emin, 2013. "Survival misperception, time inconsistency, and implications for life-cycle saving and welfare," Economic Modelling, Elsevier, vol. 32(C), pages 539-550.

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