data Dynamic Programming Savings Labor Supply Pensions Individuals Ireland
Callan, Tim; Van de Ven, Justin, A Framework for Pension Policy Analysis in Ireland: PENMOD, a Dynamic Simulation Model, 2011
ESRI Working Paper;400
This paper describes a structural dynamic microsimulation model of the household that has been developed to explore behavioural responses to pensions policy counterfactuals in Ireland. The model is based upon the life-cycle theory of behaviour, which assumes that individuals make their decisions to maximise expected lifetime utility, subject to expectations that are consistent with the prevailing decision making environment. The model is calibrated to match Irish survey data.
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