Modeling and Simulation for Social Epidemiology and Public Health by Daniel Kim

Author:Daniel Kim [Kim, Daniel]
Language: eng
Format: epub
Published: 2021-01-30T00:00:00+00:00

Incorporating the Macrodimension

Linking the microsimulation model with a macro framework is the final dimension we discuss here. The aim is to be able to analyze the impact of changes of macroaggregates (e.g. economic growth) on microunits (e.g. households’ disposable income). This link has been developed by integrating microsimulation models within a computable general equilibrium (CGE) model. CGE models typically look at the impact of major policy reforms on aggregate or sectoral price levels and on economic growth or on other macroeconomic aggregates such as national income and national consumption. These models, however, ignore processes at the microlevel and the heterogeneity among microunits. These processes may also impact macroaggregates as not all effects are distributed in the same way over different groups. In sum, CGE models ignore the distributive side, which is typically the key strength of microsimulation models.

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