Dynamic microsimulation pension model: Difference between revisions

Revision as of 20:38, 6 October 2012

Revision as of 18:41, 14 June 2014

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A dynamic microsimulation pension models (or a dynamic model with dynamic ageing) is a type of a [[pension model]] – see its [[pension model#Taxonomy of the Pension Models|taxonomy]] and also (Gál, Horváth, Orbán, & Dekkers, 2009)

.<ref name=GHOD2009>{{cite book|lastlast1=Gál, |first1=R. I., |last2=Horváth, |first2=A., |last3=Orbán, |first3=G., & |last4=Dekkers, |first4=G.|title=PENMICRO: Monitoring pension developments through micro socioeconomic instruments based on individual data sources: feasibility study|year=2009|publisher=TARKI Social Research Institute|pages=67|url=http://ec.europa.eu/social/main.jsp?langId=en&catId=89&newsId=490&furtherNews=yes}}</ref>

There are two basic types of this kind of model - (i) deterministic, which is based on best estimates of input parameters and simultaneous modelling of all statuses; and (ii) stochastic, based on random simulation of one status path for the individual concerned.

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* makes it possible to use all available information and individual data (exact calculation of pensions for individuals approaching the retirement age)

* makes it possible to reflect all legislative parameters (i.e. even non-linearities, etc.)

* comprehensive outputs (non-deviated aggregate results, individual results and pensions structure, poverty indicators, for more see e.g. see (Deloitte, 2011) <ref name=Deloitte>{{cite book|lastpublisher=Deloitte|title=The summary based on the Final Project Report of the Dynamic Micro-simulation Model of the Czech Republic|year=2011|publisher=http://www.deloitte.com/dynamicmicrosimulationmodel|url=http://www.deloitte.com/view/en_CZ/cz/publications/technical-articles/92ff26874a859310VgnVCM2000001b56f00aRCRD.htm}}</ref>)

* evaluation of actuarial aspects of the pension system

* can be extended to cover other social benefit systems and used as a consistent tool in creating the social policy

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* Mosart (Statistics Norway),

* FAMSIM (Austrian Institute for Family Studies) etc.

For more see e.g. (Asghar Zaidi and Katherine Rake, 2001).<ref>{{cite book|lastfirst1=Asghar |last1=Zaidi and |first2=Katherine |last2=Rake|title=Dynamic Microsimulation Models: A Review and Some Lessons for SAGE|year=2001|pages=40|urlid =http:// {{citeseerx.ist.psu.edu/viewdoc/download?doi=|10.1.1.96.1328&rep=rep1&type=pdf}} }}</ref>

==References==

{{Reflist}}

<references />

[[Category:Pension]]