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 InfoPaper provided by Institute for Advanced Studies in its series Economics Series with number 163.
Length: 16 pages
Date of creation: Nov 2004
Date of revision:
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Other versions of this item:
- Josef Baumgartner & Helmut Hofer & Serguei Kaniovski & Ulrich Schuh & Thomas Url, 2006. "Employment and growth in an aging society: a simulation study for Austria," Empirica, Springer, vol. 33(1), pages 19-33, March.
- C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
- E2 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment
- O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
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