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SEI_Lib 0.7 Model_for_the_Micro_Economy_and_Individual_Behavior

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bwyss edited this page Mar 16, 2011 · 4 revisions

The microeconomic model uses individual’s (or household) level data for ascertaining welfare outcomes (mainly income, poverty, resource gap and inequality) based on linkages specifications for individual’s behavior and linkages to the macroeconomic model. Uni-dimensional measures of poverty are constructed, based on the Foster-Greer-Thorbecke measure. Consumption or income inequality measures are also included as well as a multi-dimensional index of poverty.

link_to_notes (this goes to etherpad)

  • Assumptions

    • Aggregate measures of income and consumption, from the Model for the Macro-economy can be mapped into individuals’ or household income and consumption levels.
    • Labor outcomes from the Population cohort model can also be mapped into individuals’ or household data
    • There exists data in two different resolutions for population: One defined geographically (by grids) and another defined geo-politically (from Household Surveys)
    • A nationally specified and internationally comparable poverty line can be defined for countries.
    • Microeconomic attributes of individuals and households are key elements of social vulnerability
    • Individuals have incomplete information, and are not fully rational in their decisions concerning risk
    • Microeconomic outcomes feed back into the model for the Macro-economy. And both Models, together considered (Social well being Sub-component) fed back into the Seismic Risk Component

  • Design

Household level data is compiled from one or (ideally) several Household Surveys, which are used to map individual characteristics within a country. Several behavioral equations (consumption, an labor market, mainly) are constructed for linking Macro and Micro outcomes.

  • User stories:

    • Some user should be able to X.
    • Some user needs to be able to Y.

  • Suggested Implementation

Describe here how the component or module will be implemented. Please be detailed, but note that it is only a suggestion, actual implementation details will be hammered out at the Design Summit and also on the mailing list. Use complete sentences and paragraph breaks.

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