Estimating the Economic Impacts of Elderly Migration: An Input‐Output Analysis

Abstract

This paper quantifies for the first time the economic impacts of elderly in-migration on the output, earnings, and employment of a receiving state's economy. Data from the Consumer Expenditure Survey and estimates of the total redistribution of income to Florida resulting from elderly in-migration are used to calculate the direct effects by industry. A model for the state of Florida based on the Regional Input-Output Modeling System (RIMS II) is used to estimate the total impacts. The large migration flows and the considerable economic resources of the elderly lead to large, positive total impacts on the Florida economy.