Microeconomic Analysis of Time-use Data. Did we reach the promised land?

This paper surveys the last decade of micro-economic research using time-use data. Focusing on the household production model, time-use as an investment activity, and the distribution of extended income, issues of data collection, measurement errors, model specification and estimation as well as substantive results are reviewed and discussed. Although time-use data have specific characteristics which need be considered in analysis there is more to learn from these data and in particular if present short-comings are dealt with in future data collection.time-use; household production; labor supply; auxiliary information

Did the Tax Cuts Increase Hours of Work? A Pre-Post Analysis of Swedish Panel Data

Based on longitudinal data covering periods before and after the major Swedish tax reform in 1991 a difference-in-difference approach is used to estimate the effects on hours of work of the cuts in the income tax. The results show that women increased their hours more than men did. If there is an effect for men at all, then primarily young men have adjusted to the new tax incentives.

Towards an Applicable True Cost-of-Living Index that Incorporates Housing

A dynamic model of consumer behavior that incorporates the demand for housing is specified such that it is consistent with the general purpose of a consumer price index. From this model a true cost-of-living index that includes housing is derived. Being an ideal index it cannot be computed without imposing additional assumptions about the behavior of the consumer, but it is possible to draw conclusions about the prices and weights that should be used in conventional approximations to such an ideal index.True cost-of-living index; compensation index; price index of housing

On the Wealth Dynamics of Swedish Families 1984-1998

This paper focuses on three issues. First, it analyses the increasing inequality of wealth in Sweden in terms of percentile age and birth cohort differences. Second, it discusses mobility of wealth as a function of age, length of the transition period, the magnitude of quantile differences, and a time trend. The third theme is the relative importance of bequests. Estimates are given of their share of total net worth, and of their contribution to the inequality and mobility of wealth.Wealth distribution; age-cohort effects; wealth mobility; bequests

"On Household Wealth Trends in Sweden over the 1990s"

Influenced by major tax reform in the early 1990s and by the exceptional boom in the stock market at the end of that decade, overall wealth in Swedish households increased. So did wealth inequality. The large baby-boom cohorts of the 1940s have been successful in accumulating wealth and they also have large claims on the public pension system. The wealth implicit in the form of these claims dominates private wealth in most Swedish households, and in this paper it is argued that private life-cycle savings have been small in Sweden. Most household saving has been done though the public pension systems. However, concern about the future viability of the pension systems probably increased private life-cycle savings in the 1990s.

On Household Wealth Trends in Sweden over the 1990s

Influenced by a major tax reform in the beginning of the 1990s and by the exceptional boom in the stock market at the end of this decade the level as well as the inequality of the wealth of Swedish households have increased. The large baby-boom cohorts of the 1940s have been successful in accumulating wealth and they also have large claims on the public pension system. The implicit wealth in the form of these claims dominates private wealth in most Swedish households, and in this paper it is argued that private life-cycle savings have been small in Sweden. Most of these savings have been done though the public pension systems. However, concern about the future viability of the pension systems has probably increased private life-cycle savings in the 1990s.Distribution of wealth; tax reform; pension wealth; age-cohort effects

On Household Wealth Trends in Sweden over the 1990's

Influenced by major tax reform in the early 1990s and by the exceptional boom in the stock market at the end of that decade, overall wealth in Swedish households increased. So did wealth inequality. The large baby- boom cohorts of the 1940s have been successful in accumulating wealth and they also have large claims on the public pension system. The wealth implicit in the form of these claims dominates private wealth in most Swedish households, and in this paper it is argued that private life- cycle savings have been small in Sweden. Most household saving has been done though the public pension systems. However, concern about the future viability of the pension systems probably increased private life- cycle savings in the 1990s.distribution of wealth, tax reform, pension wealth, age-cohort effects

Swedish Pension Reforms in the 1990s

Many Western countries with an aging population consider reforms of their pay-as-you-go pension systems. In Sweden a new pension system has already been decided and implemented. This paper gives a brief background to the Swedish reforms in the 1990s and explains the structure of the new system.Pensons; pay-as-you-go; notional defined pensions; pension reform

On Household Wealth Trends in Sweden over the 1990s

Influenced by major tax reform in the early 1990s and by the exceptional boom in the stock market at the end of that decade, overall wealth in Swedish households increased. So did wealth inequality. The large baby- boom cohorts of the 1940s have been successful in accumulating wealth and they also have large claims on the public pension system. The wealth implicit in the form of these claims dominates private wealth in most Swedish households, and in this paper it is argued that private life- cycle savings have been small in Sweden. Most household saving has been done though the public pension systems. However, concern about the future viability of the pension systems probably increased private life- cycle savings in the 1990s.distribution of wealth, tax reform, pension wealth, age-chort effects

Statistical Inference in Micro Simulation Models: Incorporating external information

In practical applications of micro simulation models very little is usually known about the properties of the simulated values. This paper argues that we need to apply the same rigorous standards for inference in micro simulation work as in scientific work generally. If not, then micro simulation models will loose in credibility. The paper first discusses how the structure of the model will determine inference and then follow sections on estimation and validation. Differences between inference in static and dynamic models are noted and then the paper focuses on the estimation of behavioral parameters. There are three themes: calibration viewed as estimation subject to external constraints, piece meal vs. system-wide estimation, and simulation based estimation.Micro simulation; Alignment; Calibration; System-wide estimation; Simulation-based estimation