What are the drivers of TFP in the Aging Economy? Aging labor and ICT capital
AbstractThe purpose of this paper is to investigate what are the drivers of the TFP, focusing on the quality of the labor and capital inputs. We investigate how different combinations of age and skill groups in the labor input and the ICT content of the capital input are related to TFP in the manufacturing industries of some OECD countries. We find that among the low-skilled the aging process is a negative driver of productivity, but among the high-skilled it is a positive driver. We also examine how the interactions of ICT intensity and worker age/skill combinations are related to TFP. We suggest labor and ICT indexes which tell how much the development of age/skill group shares would have affected TFP without increase in ICT use, or how much ICT would have affected TFP without changes in work force composition.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Comparative Economics.
Volume (Year): 41 (2013)
Issue (Month): 1 ()
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Web page: http://www.elsevier.com/locate/inca/622864
TFP; Workforce aging; ICT capital;
Find related papers by JEL classification:
- J10 - Labor and Demographic Economics - - Demographic Economics - - - General
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
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