Improving the Validity of Microsimulation Results: Lessons from Slovakia

Norbert Svarda (), Jana Valachyova () and Zuzana Siebertova ()

No 40, Discussion Papers from Central European Labour Studies Institute (CELSI)

Abstract: This paper summarizes the lessons learned in the process of building a microsimulation tool tailored to country-specific conditions and involving a maximum degree of user control. The objective to construct a model useful in the process of budgeting and fiscal forecasting has been achieved by paying attention to policy simulation details as well as to the representativeness of the underlying micro-dataset. The validity of simulated results improved significantly after the input database sample has been reweighted in such a way that the new weights replicate, among other factors, the earned income distribution and selected age cohorts directly.Innovative approaches in bringing the model closer to legislation as well as data highlight the benefits of having more user control compared with standardized microsimulation tools.

Date: 2016-09-12
New Economics Papers: this item is included in nep-cmp
References: View complete reference list from CitEc
Citations: View citations in EconPapers (9)

Downloads: (external link)
https://celsi.sk/media/discussion_papers/DP40.pdf (application/pdf)

Related works:
Journal Article: Improving the Validity of Microsimulation Results: Lessons from Slovakia (2016)
Working Paper: Improving the Validity of Microsimulation Results: Lessons from Slovakia (2016)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cel:dpaper:40

Access Statistics for this paper

More papers in Discussion Papers from Central European Labour Studies Institute (CELSI) Contact information at EDIRC.
Bibliographic data for series maintained by Martin Kahanec ().