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Micro-econometric and Micro-Macro Linked Models: Sequential Macro-Micro Modelling with Behavioral Microsimulations
[collection article]
Abstract
Analyzing the poverty and distributional impact of macro events requires understanding how shocks or policy changes on the macro level affect household income and consumption. It is clear that this poses a formidable task, which of course raises the question of the appropriate methodology to address... view more
Analyzing the poverty and distributional impact of macro events requires understanding how shocks or policy changes on the macro level affect household income and consumption. It is clear that this poses a formidable task, which of course raises the question of the appropriate methodology to address such questions. This paper presents one possible approach: A sequential methodology that combines a macroeconomic model with a behavioral micro-simulation. We discuss the merits and shortcomings of this approach with a focus on developing country applications with a short to medium run time horizon. - This chapter is a re-print of: Lay, J. (2010). Sequential macro-micro modelling with behavioural microsimulations. International Journal of Microsimulation, 3(1), 24-34.... view less
Keywords
simulation; methodology; microeconomics; income distribution; theory; economy; econometrics; poverty; developing country; macroeconomics
Classification
Economic Statistics, Econometrics, Business Informatics
Basic Research, General Concepts and History of Economics
Free Keywords
Wirtschaftstheorie; Wirtschaftsmodell; Wirtschaftliches Verhalten
Collection Title
Development Policies and Policy Processes in Africa: Modeling and Evaluation
Editor
Henning, Christian; Badiane, Ousmane; Krampe, Eva
Document language
English
Publication Year
2018
Publisher
Springer
City
Cham
Page/Pages
p. 117-136
Series
Advances in African Economic, Social and Political Development
DOI
https://doi.org/10.1007/978-3-319-60714-6_6
ISBN
978-3-319-60714-6
Status
Published Version; peer reviewed