Descripción del proyecto
IN THIS PRESENT RESEARCH PROJECT, WE TRY TO MODEL THE BEHAVIOUR OF THE INDIVIDUALS IN AN INTERTEMPORAL CONTEXT, WE DO SO INCORPORATING DYNAMICS, GENERATED BY HABITS AND/OR THE DURABLE NATURE OF SOME GOODS (WHICH CAN BE CONSIDERED MORE INVESTMENT THAN CONSUMPTION), DIFFERENT SOURCES OF ENVY, TO DEMAND OR LABOUR SUPPLY MODELS, WE ARE CONTINUOUSLY WORRIED WITH THE ESTIMATION OF SINGLE DEMAND EQUATIONS, DEMAND SYSTEMS OR EULER EQUATIONS IN ORDER TO DERIVE THE RELEVANT PARAMETERS OF THE MODELS, WE ALSO AIM AT DEVELOPING ESTIMATION METHODS FOR NON-LINEAR PANEL DATA MODELS, BUT ALSO TO ACCOUNT FOR UNOBSERVED INDIVIDUAL AND NEIGHBOUR HETEROGENEITY, IN PARTICULAR, WE PLAN TO ESTIMATE SINGLE EQUATIONS FOR SOME GOODS AS ALCOHOLIC DRINKS, UNHEALTHY FOODS OR COMPLETE DEMAND SYSTEMS, BUT WE ALSO WOULD LIKE TO ADJUST DEMAND PATTERNS BY AGE, AND IN PARTICULAR THE CONSUMPTION IN THE SURROUNDINGS OF RETIREMENT, TRYING TO SOLVE THE RETIREMENT CONSUMPTION PUZZLE, THESE PARAMETERS (ELASTICITIES) ARE DERIVED FROM THE INTERRELATIONS AMONG DECISIONS BY ECONOMIC AGENTS, BOTH THE PARAMETERS AND THE INTERRELATIONS HAVE IMPLICATIONS FOR MANY POLICY PROBLEMS, MOST OF THEM AT THE MICROECONOMIC LEVEL, THE ANALYSES ARE MAINLY DONE AT THE MICRO LEVEL, HOWEVER, WE AGGREGATE INDIVIDUAL SITUATIONS WHEN WE DO NOT HAVE PANEL DATA AVAILABLE, BECAUSE WE FEEL IT IS IMPORTANT TO CONTROL FOR UNOBSERVED HETEROGENEITY IN ADJUSTING BEHAVIOURAL EQUATIONS, WHILE MODELLING THIS PROCESS WE WILL ALSO TAKE INTO ACCOUNT OTHER DECISIONS THAT CANNOT BE CONSIDERED EXOGENOUS TO THE PREVIOUS PROCESS, IN PARTICULAR, FERTILITY DECISIONS, IN THIS SENSE, WE WILL CAREFULLY CONSIDER THE PRESENCE OR ARRIVAL OF CHILDREN WHEN ESTIMATING THE PROPOSED ECONOMETRIC SPECIFICATIONS, IN THIS SENSE, WE WOULD ALSO LIKE TO SOLVE THE FOOD CONSUMPTION PUZZLE (IN ITS RELATIONSHIP WITH HOUSEHOLD SIZE), TAKING INTO ACCOUNT THESE CONSIDERATIONS, THE MAIN OBJECTIVES OF THE PROJECT ARE: I) TO PROVIDE A BETTER UNDERSTANDING OF THE BEHAVIOUR OF CONSUMERS AND WORKERS BY MEANS OF THE SPECIFICATION AND ESTIMATION OF MORE REALISTIC DYNAMIC MODELS THAN THOSE ACTUALLY KNOWN AND USED IN THE LITERATURE; II) TO PROPOSE NEW METHODS FOR THE ESTIMATION OF THESE NOVEL THEORETICAL SPECIFICATIONS; III) TO EVALUATE THE SUSTAINABILITY OF THE PENSION AND HEALTH SYSTEMS AS WELL AS THE ADEQUACY COVERAGE OF THE NEEDS OF THE ELDERLY AND DEPENDENT INDIVIDUALS; IV) TO DEVELOP ADEQUATE MICROSIMULATION TOOLS IN ORDER TO EVALUATE FISCAL AND FAMILY POLICIES, consumo\oferta de trabajo\envejecimiento\pensiones\salud\hábitos\envidia\datos de panel\simulaciones\políticas públicas\bienestar