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# Matrices-Matlab-Population-Crisis
Final group project for Economic Analysis with Matrices Module. Population Crisis.
Assumptions:
- No incomes.
- No spending.
- People move from one age group to another with probabilities based on UK 2014 mortality rates.
- People give birth to a child based on UK 2014 fertility rates.
- Pensions are a fixed cost per person for ages 70+.
- Healthcare is a fixed cost per person for everyone.
- Education affects the number of tax payers.
- People aged 20-69 pay tax with probability based on education.
- Government always bases spending on tax revenue only.
Takes UK population from 2014 along with fertility rates and mortality rates.
These are all split for 10 population groups
ages:
0-9, 10-19, 20-29, 30-39, 40-49, 50-59, 60-69, 70-79, 80-89, 90+
This gives us a Leslie Matrix.
Each period a lump sum tax is collected from ages 20-69
Tax is spent on pension, healthcare and education.
A Pension crisis occurs if pension costs > pension pot.
A Healthcare crisis occurs if population:
- falls to 10% or less of initial level
- decreases for 5 consecutive periods
Our project will show the population over time, various numerical outputs for spending levels.
The user will be able to set initial tax rates.