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Employment and Growth in an Aging Society. A Simulation Study for Austria

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Author Info
Baumgartner, Josef (Austrian Institute of Economic Research (WIFO))
Hofer, Helmut (Department of Economics and Finance, Institute for Advanced Studies (IHS), Vienna)
Kaniovski, Serguei (Austrian Institute of Economic Research (WIFO))
Schuh, Ulrich (Institute for Advanced Studies (IHS), Vienna)
Url, Thomas (Austrian Institute of Economic Research (WIFO))

Additional information is available for the following registered author(s):

Abstract

In 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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File URL: http://www.ihs.ac.at/publications/eco/es-163.pdf
File Format: application/pdf
File Function: First version, 2004
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Publisher Info
Paper provided by Institute for Advanced Studies in its series Economics Series with number 163.

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Length: 16 pages
Date of creation: Nov 2004
Date of revision:
Handle: RePEc:ihs:ihsesp:163

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Postal: Institute for Advanced Studies - Library, Stumpergasse 56, A-1060 Vienna, Austria

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Related research
Keywords: Economic growth; Aging; Austria;

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Find related papers by JEL classification:
C6 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming
E2 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment
O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

References listed on IDEAS
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  1. Olivier Jean Blanchard & Lawrence Katz, 1999. "Wage Dynamics: Reconciling Theory and Evidence," NBER Working Papers 6924, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  2. Barry P. Bosworth & Susan M. Collins and Georgetown University, 2003. "The Empirics of Growth: An Update," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 34(2003-2), pages 113-206. [Downloadable!]
  3. Alois Guger & Christine Mayrhuber, 2001. "Labour Force Participation and Public Pension System. Changes in the Labour Market and Their Impact on the Pension Dependency Ratio," Austrian Economic Quarterly, WIFO, vol. 6(2), pages 47-56, April. [Downloadable!] (restricted)
  4. Manfred Koch & Christian Thimann, 1999. "From Generosity to Sustainability: The Austrian Pension System and Options for its Reform," Empirica, Springer, vol. 26(1), pages 21-38, March. [Downloadable!] (restricted)
    Other versions:
  5. Dr. Peter Kenning & Hilke Plassmann, 2004. "NeuroEconomics," Experimental 0412005, EconWPA. [Downloadable!]
  6. Hayashi, Fumio, 1982. "Tobin's Marginal q and Average q: A Neoclassical Interpretation," Econometrica, Econometric Society, vol. 50(1), pages 213-24, January. [Downloadable!] (restricted)
    Other versions:
  7. Willi Leibfritz & Deborah Roseveare & Douglas Fore & Eckhard Wurzel, 1995. "Ageing Populations, Pension Systems and Government Budgets: How Do They Affect Saving?," OECD Economics Department Working Papers 156, OECD, Economics Department. [Downloadable!]
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This page was last updated on 2009-12-10.

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