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What decreases the TFP ? The aging labor and ICT imbalance

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Author Info
Tatsuyoshi Miyakoshi () (Osaka School of International Public Policy, Osaka University)
Pekka Ilmakunnas () (Helsinki School of Economics)

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Abstract

The purpose of this paper is to investigate what decreases TFP, why TFP has decreased in some countries and how large the decreases of TFP are. We focus on the quality of labor and capital inputs and use cross country data for the manufacturing industries of some OECD countries. We provide a comprehensive empirical investigation based on two hypotheses, substitutability and complementarity of labor input age and skill categories. Further, we provide an aging index, which tells how much the share of ICT capital should be increased to counterbalance decreases of TFP caused by the aging of the labor input.

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Publisher Info
Paper provided by Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP) in its series Discussion Papers in Economics and Business with number 09-03.

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Length: 29 pages
Date of creation: Feb 2009
Date of revision:
Handle: RePEc:osk:wpaper:0903

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Web page: http://www.econ.osaka-u.ac.jp/
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Related research
Keywords: TFP; quality of labor and capital; substitutability and complementarity of age and skill groups; aging index;

Find related papers by JEL classification:
O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
J00 - Labor and Demographic Economics - - General - - - General
J80 - Labor and Demographic Economics - - Labor Standards - - - General
O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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    Other versions:
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