A methodological survey of dynamic microsimulation models
Jinjing Li & Cathal O'Donoghue
#2012-002
More than 10 years ago O'Donoghue (2001) surveyed the dynamic
microsimulation models that had been developed up to that point. However
the 2000's have seen many of the barriers that existed for model
development up until that point overcome. This paper surveys the
development and practices in dynamic microsimulation over the past
decade, and discusses the methodological challenges today. The paper
provides an overview of the methodological choices made in more than 60
known dynamic microsimulation models and examines the advantages and
disadvantages of different practices. In addition, this paper reviews
the main progress made in the field and explores how future
microsimulation models could evolve.
JEL Classification: C1 C5
Key Words: Dynamic Microsimulation, Survey