Sequential macro-micro modelling with behavioural microsimulations

Jann Lay

International Journal of Microsimulation, 2010, vol. 3, issue 1, 24-34

Abstract: This paper presents a sequential methodology that combines a macroeconomic CGE model with a behavioural microsimulation, illustrates the approach with applications, and discusses its merits and shortcomings. The microsimulation, based on a household income generation model, allows for incorporating individual fixed effects into macro-micro analysis. We argue that one of the main merits of the sequential approach is its flexibility. However, this flexibility comes at the cost of theoretical inconsistency.

Keywords: CGE model; behavioural microsimulation; applied model; developing countries (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:ijm:journl:v:3:y:2010:i:1:p:24-34

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