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Recent Advances in Micromodeling: The Choice of Retiring

In: New Tools of Economic Dynamics

Author

Listed:
  • Luca Spataro

    (Università di Pisa)

Abstract

Summary Recently, much attention has been devoted to econometric models as a new tool for dynamic microsimulation. In particular, microeconometric approaches to retirement decisions have been increasingly adopted for “calibrating” dynamic microsimulation frameworks aiming at endogenizing retirement choices. By doing this, both the understandment and the prediction of the effects of policy reforms (for istance, of Social Security systems) can be significantly improved. In this work an overview of the most recent developments in micromodeling retirement decisions is carried out. In particular, as for the choice of the estimation strategy, special emphasis is posed on the trade-off between the degree of realism of hypotheses, on the one hand, and on data tractability and/or estimation performance, on the other hand. Finally, some issues which represent a challenging avenue for future research are discussed.

Suggested Citation

  • Luca Spataro, 2005. "Recent Advances in Micromodeling: The Choice of Retiring," Lecture Notes in Economics and Mathematical Systems, in: Jacek Leskow & Lionello F. Punzo & Martín Puchet Anyul (ed.), New Tools of Economic Dynamics, chapter 15, pages 255-272, Springer.
    • Handle: RePEc:spr:lnechp:978-3-540-28444-4_15
    DOI: 10.1007/3-540-28444-3_15
    as

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