ECONOMIC-IMPACT OF RETIREMENT MIGRATION

The applied research reported in this article focuses on the economic impact of retirement migration on a small rural state. A hypothetical policy designed to increase the number of retirees entering the state of Maine is analyzed using the regional economic modeling system, Regi onal Economic Models, Inc. (REMI). By comparing the simulated impact o f the policy to a baseline projection, implicit economic multipliers t hat can be used for future policy analysis are generated. Based on the REMI simulation the impact of retirement migration on the regional ec onomy can be substantial. Additional descriptive information suggests that the short-run impact of retirement migration is significant and w arrants serious consideration.