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Research articles · Aug 31, 2023
Challenges and Opportunities of Dynamic Microsimulation Modelling
NATSEM, University of Canberra, Canberra, Australia. This article was originally presented as a plenary paper to the 1st General Conference of the International Microsimulation Association, Vienna, 21 August 2007.
Cite as: A. Harding; 2023; Challenges and Opportunities of Dynamic Microsimulation Modelling; International Journal of Microsimulation; 16(2); 1–13. doi: 10.34196/ijm.00280
Abstract
Many of the social policy challenges facing the modern welfare state are long-term in nature, particularly the threats to future fiscal sustainability caused by population ageing. In such an environment, dynamic population microsimulation models provide one of the most useful available modelling tools for projecting the likely future distributional consequences of possible policy changes. However, the construction of such dynamic models remains an extremely difficult and costly undertaking, and this paper reviews some of the challenges posed by the construction of dynamic microsimulation models.