Welfare, Non-Linear Busget Constraints and Behavioural Microsimulation

John Creedy and Alan Duncan

No 688, Department of Economics - Working Papers Series from The University of Melbourne

Abstract: This paper provides a technical survey of recent developments in behavioural microsimulation. We discuss the criteria by which models of labour supply may be chosen for application to behavioural microsimulation, and consider how such models may be augmented to control for fixed costs, child-related work costs, preference heterogeneity and endogeneity in wages. We describe methods by which non-linear budgets constraints may be accommodated in estimation, in policy simulation, and in welfare analysis, and discuss how stochastic terms may be factored into the simulation of behavioural responses to some policy shock.

Keywords: BEHAVIOUR; SIMULATION; MICROECONOMICS (search for similar items in EconPapers)
JEL-codes: C90 D10 (search for similar items in EconPapers)
Pages: 42 pages
Date: 1999
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Citations: View citations in EconPapers (4)

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