The age-productivity gradient: Evidence from a sample of F1 drivers
AbstractEstimating the effect of aging on productivity requires clean measures of productivity. Additionally, one needs to control for unobserved heterogeneity at the worker, firm and worker/firm level, to account for the role of experience and to correct for selection bias. We tackle these issues exploiting a panel of Gran Prix Formula One drivers, which provides a unique setting to single out the data requirements needed to credibly estimate the effect of age on productivity. Results robust to the inclusion of worker, firm and match effects show that the age-productivity link has an inverted U-shape profile with a peak at the age of 30-32. The use of repeated cross-sections of individuals also produces consistent results provided that cohort effects are properly accounted for. Relying on team-average measures of productivity makes instead inference harder.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Labour Economics.
Volume (Year): 18 (2011)
Issue (Month): 4 (August)
Contact details of provider:
Web page: http://www.elsevier.com/locate/labeco
Aging Individual effects Firm effects Match effects Formula One Employer-employee matched data;
Other versions of this item:
- Fabrizio Castellucci & Giovanni Pica, 2009. "The Age-Productivity Gradient: Evidence from a Sample of F1 Drivers," CSEF Working Papers 226, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
- Fabrizio Castellucci & Mario Padula & Giovanni Pica, 2009. "The age-productivity gradient: evidence from a sample of F1 drivers," Working Papers 2009_16, Department of Economics, University of Venice "Ca' Foscari".
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Longitudinal Data; Spatial Time Series
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Recreation; Tourism
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Dostie, Benoit, 2006.
"Wages, Productivity and Aging,"
IZA Discussion Papers
2496, Institute for the Study of Labor (IZA).
- Benoit Dostie, 2006. "Wages, Productivity and Aging," Cahiers de recherche 06-15, HEC Montréal, Institut d'économie appliquée.
- Benoit Dostie, 2006. "Wages, Productivity and Aging," Cahiers de recherche 0645, CIRPEE.
- Benoit Dostie, 2007. "Wages, Productivity and Aging," CIRANO Working Papers 2007s-02, CIRANO.
- Brugiavini, Agar & Padula, Mario, 2001. "Too much for retirement? Saving in Italy," Research in Economics, Elsevier, vol. 55(1), pages 39-60, March.
- Pekka Ilmakunnas & Mika Maliranta & Jari Vainiomaki, 2000.
"The Roles of Employer and Employee Characteristics for Plant Productivity,"
Econometric Society World Congress 2000 Contributed Papers
1349, Econometric Society.
- Pekka Ilmakunnas & Mika Maliranta & Jari Vainiomäki, 2004. "The Roles of Employer and Employee Characteristics for Plant Productivity," Journal of Productivity Analysis, Springer, vol. 21(3), pages 249-276, May.
- John M. Abowd & Robert H. Creecy & Francis Kramarz, 2002. "Computing Person and Firm Effects Using Linked Longitudinal Employer-Employee Data," Longitudinal Employer-Household Dynamics Technical Papers 2002-06, Center for Economic Studies, U.S. Census Bureau.
- Thierry Lallemand & François Rycx, 2009.
"Are Young and Old WorkersS Harmful for Firm Productivity ?,"
Working Papers CEB
09-002.RS, ULB -- Universite Libre de Bruxelles.
- Lallemand, Thierry & Rycx, Francois, 2009. "Are Young and Old Workers Harmful for Firm Productivity?," IZA Discussion Papers 3938, Institute for the Study of Labor (IZA).
- Thierry Lallemand & François Rycx, 2009. "Are young and old workers harmful for firm productivity?," DULBEA Working Papers 09-02.RS, ULB -- Universite Libre de Bruxelles.
- James L. Medoff & Katharine G. Abraham, 1981.
"Experience, Performance, and Earnings,"
NBER Working Papers
0278, National Bureau of Economic Research, Inc.
- Tullio Jappelli & Mario Padula & Luigi Pistaferri, 2005.
"A Direct Test of the Buffer-Stock Model of Saving,"
CSEF Working Papers
150, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
- Jappelli, Tullio & Padula, Mario & Pistaferri, Luigi, 2007. "A Direct Test of the Buffer Stock Model of Saving," CEPR Discussion Papers 6576, C.E.P.R. Discussion Papers.
- Jappelli, Tullio & Padula, Mario & Pistaferri, Luigi, 2007. "A direct test of the buffer-stock model of saving," CFS Working Paper Series 2007/29, Center for Financial Studies (CFS).
- Klevmarken, N Anders & Quigley, John M, 1976. "Age, Experience, Earnings, and Investments in Human Capital," Journal of Political Economy, University of Chicago Press, vol. 84(1), pages 47-72, February.
- Lawrence M. Kahn, 2000. "The Sports Business as a Labor Market Laboratory," Journal of Economic Perspectives, American Economic Association, vol. 14(3), pages 75-94, Summer.
- Gary S. Becker, 1962. "Investment in Human Capital: A Theoretical Analysis," Journal of Political Economy, University of Chicago Press, vol. 70, pages 9.
- Woodcock, Simon, 2006.
154, University Library of Munich, Germany.
- Ray C. Fair, 2004. "Estimated Age Effects in Athletic Events and Chess," Cowles Foundation Discussion Papers 1495, Cowles Foundation for Research in Economics, Yale University, revised Feb 2006.
- James L. Medoff & Katharine G. Abraham, 1981. "Are Those Paid More Really More Productive? The Case of Experience," Journal of Human Resources, University of Wisconsin Press, vol. 16(2), pages 186-216.
- Hendrik P. van Dalen, 1997.
"The Golden Age of Nobel Economists,"
Tinbergen Institute Discussion Papers
97-120/1, Tinbergen Institute.
- Torbjørn Hægeland & Tor Jakob Klette, 1997.
"Do Higher Wages Reflect Higher Productivity? Education, Gender and Experience Premiums in a Matched Plant-Worker Data Set,"
208, Research Department of Statistics Norway.
- Haegeland, T. & Klette, T.J., 1998. "Do Higher Wages Reflect Higher Productivity? Education, Gender and Experience Premiums in a Matched Plant-Worker Data Set," Memorandum 24/1998, Oslo University, Department of Economics.
- Ray Fair, 2004. "Estimated Age Effects in Athletic Events and Chess," Yale School of Management Working Papers amz2481, Yale School of Management, revised 01 Aug 2007.
- Sharon M. Oster & Daniel S. Hamermesh, 1998. "Aging And Productivity Among Economists," The Review of Economics and Statistics, MIT Press, vol. 80(1), pages 154-156, February.
- Julia I. Lane & John C. Haltiwanger & James Spletzer, 1999. "Productivity Differences across Employers: The Roles of Employer Size, Age, and Human Capital," American Economic Review, American Economic Association, vol. 89(2), pages 94-98, May.
- Weiss, Matthias & Börsch-Supan, Axel, 2011.
"Productivity and age: Evidence from work teams at the assembly line,"
Annual Conference 2011 (Frankfurt, Main): The Order of the World Economy - Lessons from the Crisis
48719, Verein für Socialpolitik / German Economic Association.
- Börsch-Supan, Axel & Weiss, Matthias, 2011. "Productivity and age: Evidence from work teams at the assembly line," MEA discussion paper series 07148, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wendy Shamier).
If references are entirely missing, you can add them using this form.