A Framework for Pension Policy Analysis in Ireland: PENMOD, a Dynamic Simulation Model

Tim Callan and Justin van de Ven

No WP400, Papers from Economic and Social Research Institute (ESRI)

Abstract: This paper describes a structural dynamic microsimulation model of the household that has been developed to explore behavioural responses to pensions policy counterfactuals in Ireland. The model is based upon the life-cycle theory of behaviour, which assumes that individuals make their decisions to maximise expected lifetime utility, subject to expectations that are consistent with the prevailing decision making environment. The model is calibrated to match Irish survey data.

Keywords: data/Dynamic Programming; Savings; Labor Supply; Pensions/Individuals/Ireland (search for similar items in EconPapers)
JEL-codes: C51 C61 C63 H31 (search for similar items in EconPapers)
Date: 2011-08
New Economics Papers: this item is included in nep-age, nep-cmp and nep-dge
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https://www.esri.ie/pubs/WP400.pdf (application/pdf)

Related works:
Chapter: A Framework for Pension Policy Analysis in Ireland: PENMOD, a Dynamic Simulation Model (2012)
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