This paper describes a structural dynamic microsimulation model that generates individual-specific data over a range of demographic and economic characteristics at annual intervals over the life-course. The model is specifically designed to analyse the distributional implications of policy...

The view that there is an ‘under-savings’ problem in the UK domestic sector has had an important bearing on the contemporary agenda for policy reform. This paper considers the temporal variation of household expenditure and disposable income described by micro-data observed during...

This paper describes a simple and tractable method for identifying equivalence scales that reflect the value judgements implicit in a tax and benefits system. The approach depends upon two assumptions that are standard in the literature concerned with inequality and tax progressivity, in...

The importance of contemporary trends in fertility and female labour supply is well recognised. Unfortunately, our understanding of these inter-related phenomena has been hampered by the difficulties that are associated with formulating a structural model of behaviour that reflects the joint...

This paper discusses the way in which payments from pooled annuity funds need to be adjusted to take account of the fact that future mortality rates are uncertain. Mortalityadjusted annuities, as we describe payments from the pooled fund are variable annuities in which aggregate mortality risk...

Most empirical studies of savings behaviour that explicitly take account of the influence of uncertainty consider for identification data that describe the evolution of circumstances observed during an appreciable period of the life-course. Here we report results obtained for a dynamic...