Methods and Tools for the Microsimulation and Forecasting of Household Expenditure - A Review

Abstract

This paper reviews potential methods and tools for the microsimulation and forecasting of household expenditure. It begins with a discussion of a range of approaches to the forecasting of household populations via agent-based modelling tools. Then it evaluates approaches to the modelling of household expenditure. A prototype implementation is described and the paper concludes with an outline of an approach to be pursued in future work