Microsimulation Modelling of Taxation and the Labour Market: The Melbourne Institute Tax and Transfer Simulator Book

Microsimulation Modelling of Taxation and the Labour Market reports new research on behavioral microsimulation modeling of tax and transfer systems. Its aims are twofold. First, the book discusses the rationale for the basic modeling approach adopted and provides information on econometric methods used to estimate behavioral relationships. Secondly, it describes the Melbourne Institute Tax and Transfer Simulator (MITTS) in detail, explaining its main features, installation and use. After providing a broad review of tax modeling, the authors review alternative approaches to the analysis of labor supply behavior, discuss the main components of behavioral microsimulation models and present econometric results concerning wage functions and preferences. They go on to provide a detailed description of MITTS, which was constructed by the authors in order to examine the implications of tax reforms in Australia. Microsimulation Modelling of Taxation and the Labour Market will appeal to those with a special interest in the analysis of tax and transfer systems and labor supply behavior.Read More