Productivity consequences of workforce ageing - Stagnation or a Horndal effect?
AbstractData linking the production of value-added at the plant level to the individual employees provide an opportunity to deepen the understanding of how the labor force composition relates to productivity performance. In view of the anticipated aging of the workforce in industrialised economies a body of research has emerged that indicate that individual productivity has a more pronounced hump-shape than the wage profile. This paper studies these issues by examining the composition of the workforce at the plant level in relation to the productivity performance of the plants. Our data cover the Swedish mining and manufacturing industries 1985-1996. The fact that older workers selectively work with older capital may have biased results found in the literature. Endogeneity of workforce composition poses serious estimation problems, but our attempts to cope with these problems tend to indicate that biases in general go in the direction that productivity of the young is overestimated and the productivity of the old is underestimated.
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Bibliographic InfoPaper provided by Institute for Futures Studies in its series Arbetsrapport with number 2005:17.
Length: 43 pages
Date of creation: 12 Dec 2005
Date of revision:
Note: ISSN 1652-120X ISBN 91-89655-75-3
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workforce ageing; productivity growth;
Find related papers by JEL classification:
- J10 - Labor and Demographic Economics - - Demographic Economics - - - General
- J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-12-20 (All new papers)
- NEP-BEC-2005-12-20 (Business Economics)
- NEP-EFF-2005-12-20 (Efficiency & Productivity)
- NEP-HRM-2005-12-20 (Human Capital & Human Resource Management)
- NEP-LAB-2005-12-20 (Labour Economics)
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