How should I model the econ impact of military retirees? I have the number of retirees and the monthly retirement income. I could setup a 'labor income change' model to evaluate the impact from their payroll. However, this definitely underestimate their impact because, different from ordinary retirees, military retirees are very likely to be rehired by other companies since most them are still young. Any suggestions?
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  • Even if the retirees are likely to be re-employed, they are likely taking jobs that would have otherwise gone to non-retirees. So unless they are creating new jobs (i.e., starting their own businesses), I would not count that employment as an additional impact. Also, for the income impact, you will want to use a Household Income Change Activity rather than a Labor Income Change Activity because the latter will remove payroll taxes and commuters.
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  • Clear. Thanks.
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