Employment and growth in an aging society: a simulation study for Austria
AbstractIn this study we use a long run macroeconomic model for Austria to simulate the effects of aging on employment, output growth, and the solvency of the social security system. By disaggregating the population into six age cohorts and modelling sex specific participation rates for each cohort, we are able to account for the future demographic trends. Apart from a baseline scenario, we perform three alternative simulations that highlight the effects of aging from different perspectives. These include (1) purely demographic developments, (2) increasing labour market imperfections, and (3) higher economic growth due to a productivity shock.
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Bibliographic InfoArticle provided by Springer in its journal Empirica.
Volume (Year): 33 (2006)
Issue (Month): 1 (March)
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Web page: http://www.springerlink.com/link.asp?id=100261
Economic growth; Aging; Austria; C6; E2; O4;
Other versions of this item:
- Baumgartner, Josef & Hofer, Helmut & Kaniovski, Serguei & Schuh, Ulrich & Url, Thomas, 2004. "Employment and Growth in an Aging Society. A Simulation Study for Austria," Economics Series 163, Institute for Advanced Studies.
- C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
- E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
- O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
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