Тузувчи : Файзуллаева Н

Calibrating the Microsimulation Model. We next calibrate the microsimu­lation model of individual income tax returns to CBO’s baseline projections. Data produced by the SOI play a vital role in helping us develop a database for use in doing tax policy analysis. A base-year SOI sample of individual income tax returns is adjusted so that, when the model simulates current-law tax provi­sions, the results are consistent with CBO’s baseline economic projections and approximate CBO’s individual income tax revenue projections.

The final CBO-like baseline forecast provides a number of NIPA measures of personal and business income that we use in calibration. Those NIPA income measures include wage and salary income, investment income (personal interest and dividend income), proprietors’ income (farm and nonfarm), other busi­ness income (including personal rental income), transfer payments to persons (Federal as well as State and local), and corporate profits. The final CBO-like forecast also provides price-level variables (the CPI for all urban consumers and the GDP deflator for medical goods and services) and some NIPA budget­ary variables (State and local tax revenues) used in calibration.