This essential dimensions of microsimulation as an instrument to analyze and forecast
the individual impacts of alternative economic and social policy measures are surveyed
in this study. The basic principles of microsimulation, which is a tool for practical
policy advising as well as for research and teaching, are pointed out and the static and
dynamic (cross-section and life-cycle) approaches are compared to one another. Present
and past developments of microsimulation models and their areas of application are
reviewed, focusing on the US, Europe and Australia. Based on general requirements and
components of microsimulation models a microsimulation model's actual working
mechanism are discussed by a concrete example: the concept and realization of
MICSIM, a PC microsimulation model based on a relational database system, an
offspring of the Sfb 3 Statitic Microsimulation Model. Common issues of
microsimulation modeling are regarded: micro/macro link, behavioural response and the
important question of evaluating microsimulation results. The concluding remarks
accentuate the increasing use of microcomputers for microsimulation models also for
teaching purpose
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