The microWELT-US Microsimulation Model for Projections of the US Labour Force Participation Accounting for Education and Health. Technical Report

Johannes Amann, René Böheim, Gerard Horvath, Thomas Leoni and Martin Spielauer
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Johannes Amann: WIFO
Martin Spielauer: WIFO

in WIFO Studies from WIFO

Abstract: This technical report presents the dynamic microsimulation model microWELT-US developed for US labour force projections accounting for education and health. microWELT-US is the adaptation of an existing microsimulation model for Europe. The microsimulation model supports a comparative analysis of the effect of socio-demographic change on future labour force participation. The model is a continuous time, competing risk, interacting population model supporting alignment to existing population projections. The model is built on the microWELT modelling platform implemented in Modgen, a freely available programming technology developed and maintained at Statistics Canada. The model has a graphical user interface allowing the editing of parameters, scenario creation, and exploration of simulation results. This report gives an overview of the model architecture, model parameters, the base scenario, and key simulation results comparing the USA to Germany, France, and Spain.

Date: 2021 Written 2021-09-10
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Persistent link: https://EconPapers.repec.org/RePEc:wfo:wstudy:67943

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