IDEAS home Printed from https://ideas.repec.org/p/cbo/wpaper/44306.html
   My bibliography  Save this paper

Modeling Individual Earnings in CBO’s Long-Term Microsimulation Model: Working Paper 2013-04

Author

Listed:
  • Jonathan A. Schwabish
  • Julie H. Topoleski

Abstract

This paper describes the methods developed to project individual earnings in the Congressional Budget Office Long-Term (CBOLT) microsimulation model. CBOLT is used to assess the fiscal situations of the Social Security system and the federal government as a whole. Unlike many other models that project Social Security’s finances, CBOLT projects behavior at the individual level. For each individual in the model, CBOLT projects levels of educational attainment, transitions in and out of marriage, labor force participation and employment transitions, immigration and emigration

Suggested Citation

  • Jonathan A. Schwabish & Julie H. Topoleski, 2013. "Modeling Individual Earnings in CBO’s Long-Term Microsimulation Model: Working Paper 2013-04," Working Papers 44306, Congressional Budget Office.
    • Handle: RePEc:cbo:wpaper:44306
    as

    Download full text from publisher

    File URL: https://www.cbo.gov/sites/default/files/113th-congress-2013-2014/workingpaper/44306_CBOLT_1.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Jason DeBacker & Bradley Heim & Vasia Panousi & Shanthi Ramnath & Ivan Vidangos, 2013. "Rising Inequality: Transitory or Persistent? New Evidence from a Panel of U.S. Tax Returns," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 46(1 (Spring), pages 67-142.
    2. Jonathan A. Schwabish, 2009. "Identifying Rates of Emigration in the United States Using Administrative Earnings Records: Working Paper 2009-01," Working Papers 20516, Congressional Budget Office.
    3. Congressional Budget Office, 2012. "The 2012 Long-Term Budget Outlook," Reports 43288, Congressional Budget Office.
    4. Congressional Budget Office, 2012. "The 2012 Long-Term Budget Outlook," Reports 43288, Congressional Budget Office.
    5. Christopher D. Carroll, 1992. "The Buffer-Stock Theory of Saving: Some Macroeconomic Evidence," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 23(2), pages 61-156.
    6. Jason M. DeBacker & Bradley T. Heim & Vasia Panousi & Ivan Vidangos, 2011. "Rising inequality: transitory or permanent? New evidence from a U.S. panel of household income 1987-2006," Finance and Economics Discussion Series 2011-60, Board of Governors of the Federal Reserve System (U.S.).
    7. Molly Dahl & Thomas DeLeire & Jonathan A. Schwabish, 2011. "Estimates of Year-to-Year Volatility in Earnings and in Household Incomes from Administrative, Survey, and Matched Data," Journal of Human Resources, University of Wisconsin Press, vol. 46(4), pages 750-774.
    8. Congressional Budget Office, 2012. "The 2012 Long-Term Budget Outlook," Reports 43288, Congressional Budget Office.
    9. Sabelhaus, John & Song, Jae, 2010. "The great moderation in micro labor earnings," Journal of Monetary Economics, Elsevier, vol. 57(4), pages 391-403, May.
    10. Wojciech Kopczuk & Emmanuel Saez & Jae Song, 2010. "Earnings Inequality and Mobility in the United States: Evidence from Social Security Data Since 1937," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 125(1), pages 91-128.
    11. Congressional Budget Office, 2012. "The 2012 Long-Term Budget Outlook," Reports 43288, Congressional Budget Office.
    12. Robert A. Moffitt & Peter Gottschalk, 2012. "Trends in the Transitory Variance of Male Earnings: Methods and Evidence," Journal of Human Resources, University of Wisconsin Press, vol. 47(1), pages 204-236.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Agnieszka Markiewicz & Rafal Raciborski, 2022. "Income Inequality and Stock Market Returns," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 43, pages 286-307, January.
    2. Nadia Karamcheva & Jeffrey Perry & Constantine Yannelis, 2020. "Income-Driven Repayment Plans for Student Loans: Working Paper 2020-02," Working Papers 56337, Congressional Budget Office.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Robert Moffitt & Sisi Zhang, 2018. "Income Volatility and the PSID: Past Research and New Results," AEA Papers and Proceedings, American Economic Association, vol. 108, pages 277-280, May.
    2. Robert Moffitt & Sisi Zhang, 2018. "The PSID and Income Volatility: Its Record of Seminal Research and Some New Findings," The ANNALS of the American Academy of Political and Social Science, , vol. 680(1), pages 48-81, November.
    3. Robert A. Moffitt, 2020. "Reconciling Trends in U.S. Male Earnings Volatility: Results from a Four Data Set Project," NBER Working Papers 27664, National Bureau of Economic Research, Inc.
    4. Robert Moffitt & Sisi Zhang, 2022. "Estimating Trends in Male Earnings Volatility with the Panel Study of Income Dynamics," Journal of Business & Economic Statistics, Taylor & Francis Journals, vol. 41(1), pages 20-25, December.
    5. Robert Moffitt & John Abowd & Christopher Bollinger & Michael Carr & Charles Hokayem & Kevin McKinney & Emily Wiemers & Sisi Zhang & James Ziliak, 2022. "Reconciling Trends in U.S. Male Earnings Volatility: Results from Survey and Administrative Data," Journal of Business & Economic Statistics, Taylor & Francis Journals, vol. 41(1), pages 1-11, December.
    6. Carr, Michael D. & Wiemers, Emily E., 2021. "The role of low earnings in differing trends in male earnings volatility," Economics Letters, Elsevier, vol. 199(C).
    7. Michelangeli Valentina & Santoro Marika, 2013. "Households’ uncertainty about Medicare policy," The B.E. Journal of Macroeconomics, De Gruyter, vol. 13(1), pages 151-186, January.
    8. Kazumasa Oguro, 2014. "Challenges confronting Abenomics and Japanese public finance ?Fiscal consolidation must start by squarely facing reality?," Public Policy Review, Policy Research Institute, Ministry of Finance Japan, vol. 10(2), pages 301-318, August.
    9. Thomas Grennes, 2013. "Diminishing Quality of Fiscal Institutions in the United States and European Union," Cato Journal, Cato Journal, Cato Institute, vol. 33(1), pages 91-109, Winter.
    10. Nora Traum & Shu‐Chun S. Yang, 2015. "When Does Government Debt Crowd Out Investment?," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 30(1), pages 24-45, January.
    11. Hans B. Christensen & Eric Floyd & Mark Maffett, 2020. "The Only Prescription Is Transparency: The Effect of Charge-Price-Transparency Regulation on Healthcare Prices," Management Science, INFORMS, vol. 66(7), pages 2861-2882, July.
    12. Jeffrey B. Liebman, 2013. "The Deterioration in the US Fiscal Outlook, 2001-2010," Tax Policy and the Economy, University of Chicago Press, vol. 27(1), pages 1-18.
    13. Markus Jäntti & Stephen P. Jenkins, 2013. "Income Mobility," SOEPpapers on Multidisciplinary Panel Data Research 607, DIW Berlin, The German Socio-Economic Panel (SOEP).
    14. David Greenlaw & James D. Hamilton & Peter Hooper & Frederic S. Mishkin, 2013. "Crunch Time: Fiscal Crises and the Role of Monetary Policy," NBER Working Papers 19297, National Bureau of Economic Research, Inc.
    15. Michael D. Carr & Robert A. Moffitt & Emily E. Wiemers, 2020. "Reconciling Trends in Volatility: Evidence from the SIPP Survey and Administrative Data," NBER Working Papers 27672, National Bureau of Economic Research, Inc.
    16. Joseph Steinberg, 2019. "On the Source of U.S. Trade Deficits: Global Saving Glut or Domestic Saving Drought?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 31, pages 200-223, January.
    17. Christopher C. Afendulis & Michael E. Chernew & Daniel P. Kessler, 2013. "The Effect of Medicare Advantage on Hospital Admissions and Mortality," NBER Working Papers 19101, National Bureau of Economic Research, Inc.
    18. Shinichi Nishiyama, 2013. "Fiscal Policy Effects in a Heterogeneous-Agent Overlapping-Generations Economy With an Aging Population: Working Paper 2013-07," Working Papers 44941, Congressional Budget Office.
    19. Sebastian Rausch & Hidemichi Yonezawa, 2018. "The Intergenerational Incidence Of Green Tax Reform," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 9(01), pages 1-25, February.
    20. Leonard E. Burman, 2013. "Pathways to Tax Reform Revisited," Public Finance Review, , vol. 41(6), pages 755-790, November.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cbo:wpaper:44306. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/cbogvus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.