Case Studies - Health&WealthMOD: a microsimulation model of the economic impacts of diseases on older workers

Abstract

The Australian Government is seeking to encourage older workers to remain in the labour force longer to overcome future labour shortages and ensure adequate taxation revenue to fund the needs of an ageing population. Longer labour force participation also has benefits to individuals in terms of available income and capacity to save for a better standard of living in retirement. While the Government recognises that not all older workers are able to participate in the labour force, there is little information on what health conditions keep people from working, or what the costs are to the government or the individual. This case study outlines how a new micro simulation model, Health&Wea..