A dynamic microsimulation model of cohort labour earnings based on the Australian population aged between 20 and 55 years is described. Care has been taken to specify the model, subject to the limited data that were available for estimation. Despite the restrictive specifications used, the model closely reflects the data used for calibration, and is shown to bear a close relation to alternatives considered by the literature. © 2006 Elsevier Ltd. All rights reserved.
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