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Microsimulation Models |
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| TMD has been working on an approach based on an applied microsimulation model built on household data with explicit treatment of heterogeneity of skills, labor preferences and opportunities, and consumption preferences at the individual and/or household level, while allowing for an endogenous determination of relative prices between sectors. The model is primarily focused on labor markets and labor allocation at the household level, but consumption behavior is also modeled. The goal is to construct a model that makes the best possible use of microeconomic information derived from household data, in order to capture the importance of heterogeneity across households. | |
Publications
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