Matteo Richiardi - SimPaths: An open-source microsimulation model for life course analysis

• Presenting author: Matteo Richiardi (CeMPA, University of Essex)

• Authors: Patryk Bronka, Matteo Richiardi, Justin van de Ven

• Session: C02C - Stakeholder Meeting on Care Policy - JPI WellCARE Project - (Session open to the public) - Wednesday 11:00-12:30 - Senate Hall

• Slides: PDF

SimPaths is a family of models for individual and household life course events, all sharing common components. The framework is designed to project life histories through time, building up a detailed picture of career paths, family (inter)relations, health, and financial circumstances. The framework builds upon standardised assumptions and data sources, which facilitates adaptation to alternative countries – versions currently exist for the UK and Italy. Careful attention is paid to model validation, and sensitivity of projections to key assumptions. The modular nature of the SimPaths framework is designed to facilitate analysis of alternative assumptions concerning the tax and benefit system, sensitivity to parameter estimates and alternative approaches for projecting labour/leisure and consumption/savings decisions. Projections for a workhorse model parameterised to the UK context are reported, which closely reflect observed data throughout a 10-year validation window.