New Pathways in Microsimulation is an extremely useful reference for those involved in the design and the evaluation of tax-benefit systems. Beyond methodological advances, it contains valuable examples from different policy domains, for example from the very timely field of pension reform in light of demographic and budgetary pressures. The authors demonstrate the substantial added value of microsimulations over purely aggregate or representative agent models.' Alain Jousten, University of Liège, Belgium and Maastricht University, Holland This volume illustrates the powerful approach of microsimulation in policy evaluation and design. There is a broad review of current applications including the effectiveness of tax-benefit policy, the analysis of poverty, health status, population ageing and the spatial effects of VAT-increases on household expenditures. Those interested in pension issues will for instance benefit from an analysis of the impact of the financial crisis on old-age poverty in Sweden using a model, which allows an interaction between the pension system, the labour market and an endogenous tax policy. Also recommended is a chapter on a stylized model of the pension system in Belgium, which brings out a number of basic properties of the system. However, a comparison demonstrates the advantages of a fully developed microsimulation model. Model builders will for instance enjoy contemplating how far the ideas of estimating block recursive models, and validating models by backwards simulation of a historical period will take us. This book is highly recommended to policy analysts, model builders and readers with a general interest in economics and social science. Anders Klevmarken, Professor Emeritus, Uppsala University, Sweden.
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