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First and last ages at work GNI per capita Labor force participation rate Labor share of income
•Definition: The age entering the labor market; The age to retire or exist the labor market.
•Note: Since additional wage earnings will accrue only once for each child as the birth cohort enters the labor market. the recommended average working years is 44, starting at the age of 16 years and retiring at the age of 60 years.
•Default data source: Wong B, Radin M. Benefit-Cost Analysis of a Package of Early Childhood Interventions to Improve Nutrition in Haiti. J Benefit Cost Anal. 2019;10(Suppl 1):154-184. doi: 10.1017/bca.2019.1. Epub 2019 Feb 28. PMID: 32968617; PMCID: PMC7473066. https://pubmed.ncbi.nlm.nih.gov/32968617/
•Definition: gross national income, converted to U.S. dollars using the World Bank Atlas method, divided by the midyear population.
•Note: Based on the user's selection for first and last ages at work, GNI per capita will display to the year when all the birth cohorts exists the labor market. •All the retrospective GNI per capita data (2000-2019) were retrieved from World Bank database. The future GNI per capita are projected based on IIASA-SSP database. IIASA-SSP projects annual growth rates using five different models and reports the growth rates for every five years. The average of the projected annual growth rates across five models were applied to each country for the specific five-year period. We included the projected annual GNI per capita growth rates from 2020 to 2080. For years beyond 2080, GNI per capita will be projected using the annual growth rates for 2075-2080. Users can use other estimates if they are more appropriate for the analysis that will be completed. •Future wage is estimated based on the following formula: Wage=GNI per capita * labor share of income / labor force participation rate •When user estimates the present value of additional lifetime earnings obtained by the birth cohort, user can choose to apply different discount rates: 3%, 5%, or 10%.
•Default data source: World Bank https://data.worldbank.org/ •IIASA-SSP database https://tntcat.iiasa.ac.at/SspDb/dsd?Action=htmlpage&page=about Accessed March 2021 •Claxton K, Asaria M, Chansa C, Jamison J, Lomas J, Ochalek J, Paulden M. Accounting for Timing when Assessing Health-Related Policies. J Benefit Cost Anal. 2019 Jan 26;10(Suppl 1):73-105. doi: 10.1017/bca.2018.29. PMID: 33282628; PMCID: PMC7691758. https://pubmed.ncbi.nlm.nih.gov/33282628/
Labor force participation rate •Definition: proportion of the total population that is working/economically active.
•Note: The proportion of the populations ages 15 and older that is economically active and the proportion of population ages 0-14 years old were retrieved from World Bank database. And we used the two indicators to calculation country-specific labor force participation rate. Users can use other estimates if they are more appropriate for the analysis that will be completed.
•Default data source: World Bank https://data.worldbank.org/
•Definition: the part of national income allocated to wages
•Note: the default labor share of income is 50%. Users can use other estimates if they are more appropriate for the analysis that will be completed.
•Default data source: Wong B, Radin M. Benefit-Cost Analysis of a Package of Early Childhood Interventions to Improve Nutrition in Haiti. J Benefit Cost Anal. 2019;10(Suppl 1):154-184. doi: 10.1017/bca.2019.1. Epub 2019 Feb 28. PMID: 32968617; PMCID: PMC7473066. https://pubmed.ncbi.nlm.nih.gov/32968617/ |
