The Impact of Changes in Health Status: An Economywide Analysis for Australia
We construct a dynamic, computable general equilibrium model of the Australian economy that incorporates a detailed representation of demographic and health trends of the labour force. We project the economywide effects of changes in the health status of the workforce associated with a change in chronic disease prevalence. Our results show that reductions in chronic disease and the associated rate of health decline of older workers have a much greater effect than similar reductions for younger workers. Traded sectors benefit much more than nontraded sectors, with a consequent improvement in the trade balance and a real depreciation of the exchange rate. The increase in workforce participation also decreases the capital-labour ratio and raises the returns to capital relative to labour.
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- García-Gómeza, P & Jones, A.M & Rice, N, 2008.
"Health effects on labour market exits and entries,"
Health, Econometrics and Data Group (HEDG) Working Papers
08/03, HEDG, c/o Department of Economics, University of York.
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