This paper provides a detailed description of the construction of Health&WealthMOD (Version II). It is Australia’s only microsimulation model of health and illness and their impacts on labour force participation, income, wealth and government revenue and expenditure. In this paper, we describe...

Health&WealthMOD is the first Australian microsimulation model designed to determine the economic impacts of disease on older workers, aged 45 to 65 years. Chronic health conditions are known to be associated with early retirement. This paper describes an application of Health&WealthMOD to...

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...

Policymakers in Australia, like in most OECD countries, have recognised the importance of early retirement due to ill health on individuals and families, as well as on the budget balance when planning for the health needs of an ageing population. In order to understand these effects, a unique...