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.
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Bibliographic InfoArticle provided by Elsevier in its journal Labour Economics.
Volume (Year): 18 (2011)
Issue (Month): 4 (August)
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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; Spatio-temporal Models
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
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