population

Parameterising the LINDA microsimulation model of benefi…t unit savings and labour supply

This paper describes how the parameters of the Lifetime INcome Distributional Analysis (LINDA) microsimulation model were defined to reflect survey data for the UK. LINDA is a dynamic programming model of savings and labour supply decisions that has been developed for use by UK policy makers. The model is adapted to project the circumstances of the evolving population cross-section forward through time.