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Equilibrium policy simulation with random utility models of labor supply

  • Colombino, Ugo

Many microeconometric models of discrete labor supply include alternative-specific constants meant to account for (possibly besides other factors) the density or accessibility of particular types of jobs (e.g. part-time jobs vs. full-time jobs). The most common use of these models is the simulation of tax-transfer reforms. The simulation is usually interpreted as a comparative static exercise, i.e. the comparison of different equilibria induced by different policy regimes. The simulation procedure, however, typically keeps fixed the estimated alternative-specific constants. In this note we argue that this procedure is not consistent with the comparative statics

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Paper provided by EUROMOD at the Institute for Social and Economic Research in its series EUROMOD Working Papers with number EM5/12.

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Date of creation: 02 Apr 2012
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Publication status: published
Handle: RePEc:ese:emodwp:em5-12
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  1. Colombino, Ugo, 2012. "Equilibrium policy simulation with random utility models of labor supply," EUROMOD Working Papers EM5/12, EUROMOD at the Institute for Social and Economic Research.
  2. Colombino, Ugo, 2011. "Five Issues in the Design of Income Support Mechanisms: The Case of Italy," IZA Discussion Papers 6059, Institute for the Study of Labor (IZA).
  3. Dagsvik, John K, 1994. "Discrete and Continuous Choice, Max-Stable Processes, and Independence from Irrelevant Attributes," Econometrica, Econometric Society, vol. 62(5), pages 1179-1205, September.
  4. Rolf Aaberge & Ugo Colombino, 2011. "Empirical Optimal Income Taxation: A Microeconometric Application to Norway," CHILD Working Papers wp16_11, CHILD - Centre for Household, Income, Labour and Demographic economics - ITALY.
  5. Steinar Str�m & John K. Dagsvik, 2006. "Sectoral labour supply, choice restrictions and functional form," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 21(6), pages 803-826.
  6. John K. Dagsvik, 1996. "Aggregation in Matching Markets," Discussion Papers 173, Statistics Norway, Research Department.
  7. Aaberge, Rolf & Colombino, Ugo, 2009. "Accounting for Family Background when Designing Optimal Income Taxes: A Microeconometric Simulation Analysis," IZA Discussion Papers 4598, Institute for the Study of Labor (IZA).
  8. John Creedy & Alan Duncan, 2001. "Aggregating Labour Supply And Feedback Effects In Microsimulation," Department of Economics - Working Papers Series 823, The University of Melbourne.
  9. Colombino Ugo & Locatelli Marilena & Narazani Edlira & O'Donoghue Cathal, 2010. "Alternative Basic Income Mechanisms: An Evaluation Exercise With a Microeconometric Model," Basic Income Studies, De Gruyter, vol. 5(1), pages 1-31, September.
  10. Sutherland, Holly, 2001. "EUROMOD: an integrated European benefit-tax model: final report," EUROMOD Working Papers EM9/01, EUROMOD at the Institute for Social and Economic Research.
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