Validating longitudinal earnings in dynamic microsimulation models

Favreault, Melissa M., and Owen G. Haaga. “Validating longitudinal earnings in dynamic microsimulation models”. CRR WP 2013-19, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, September 2013. http://hdl.handle.net/2345/bc-ir:104772.
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Abstract

Rapid growth in the earnings of the highest earners over the past two and a half decades has contributed to strains on Social Security's finances and made projecting lifetime earnings on a year-by-year basis - already a complicated technical problem - even more challenging. This project uses various descriptive techniques and high-quality administrative earnings data matched to household surveys to explore related questions about the changing wage distribution. We first describe the characteristics of high earners, both at a point in time and over longer periods (from 1983 through 2010). We then evaluate how well SSA's MINT7 dynamic microsimulation model projects inequality in the earnings distribution and the long-term characteristics of earnings paths.

Title
Validating longitudinal earnings in dynamic microsimulation models: The role of outliers
Author
Favreault, Melissa M.
Haaga, Owen G.
Center
Center for Retirement Research
Genre
working paper
Date Issued
September 2013
Publisher
Center for Retirement Research at Boston College
Series Title
CRR WP
Series Number
2013-19
Persistent Link
http://hdl.handle.net/2345/bc-ir:104772
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
Social Security

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