This paper examines the potential distributional impacts of demographic change, particularly population ageing, and changes to labour force participation that are projected to arise over the next 50 years. The approach involves calibration weighting of the Treasury's microsimulation model,...

When measuring inequality, value judgements are imposed, often implicitly, at several stages. In particular, the choice of ‘welfare metric', adult equivalence scale, unit of analysis and the inequality measure itself cannot avoid value judgements. This paper illustrates the effects of using...

When measuring inequality, value judgements are imposed, often implicitly, at several stages. In particular, the choice of ‘welfare metric’, adult equivalence scale, unit of analysis and the inequality measure itself cannot avoid value judgements. This paper illustrates the effects of using...

This paper examines the potential distributional impacts of demographic change, particularly population ageing, and changes to labour force participation that are projected to arise over the next 50 years. The approach involves calibration weighting of the Treasury’s microsimulation model,...

The objective of the paper is to explore the saving and consumption responses of a representative household to a range of policy interventions such as changes in taxes and pension settings. To achieve this, it develops a two-period life-cycle model. The representative household maximises...

This note provides an elementary introduction to the measurement of welfare gains from the introduction of a new good, based on the concept of the ‘virtual price’ and standard expressions for welfare changes arising from price changes.