Skip to content

Journal Article

Simulating household savings and labour supply: an application of dynamic programming

Authors

Publication date

2004

Abstract

This paper describes a fully behavioural microsimulation model that has recently been developed at the National Institute for considering responses to changes in pension policy of household savings and labour supply. The model generates household decisions regarding labour/leisure, and consumption/savings by solving a dynamic programming problem over the simulated lifetime. This analytical framework incorporates a degree of complexity that is usually omitted from econometric analyses that are common in the literature.

Published in

National Institute Economic Review

Volume

188 (Apr):56-72

Subjects

Econometrics, Labour Market, Savings And Assets, Household Economics, and Microsimulation

Links

http://serlib0.essex.ac.uk/search/s?SEARCH=national+institute+economic+review&sortdropdown=-&x=36&y=13

Notes

Albert Sloman Library Periodicals *restricted to Univ. Essex registered users*

#508151


Research home

Research home

News

Latest findings, new research

Publications search

Search all research by subject and author

Podcasts

Researchers discuss their findings and what they mean for society

Projects

Background and context, methods and data, aims and outputs

Events

Conferences, seminars and workshops

Survey methodology

Specialist research, practice and study

Taking the long view

ISER's annual report

Themes

Key research themes and areas of interest