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Age, Technology and Labour Costs

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Author Info

  • Daveri, Francesco
  • Maliranta, Mika

Abstract

Is the process of workforce aging a burden or a blessing for the firm? Our paper seeks to answer this question by providing evidence on the age-productivity and age-earnings profiles for a sample of plants in three manufacturing industries (“forest”, “industrial machinery” and “electronics”) in Finland. Our main result is that exposure to rapid technological and managerial changes does make a difference for plant productivity, less so for wages. In electronics, the Finnish industry undergoing a major technological and managerial shock in the 1990s, the response of productivity to age-related variables is first sizably positive and then becomes sizably negative as one looks at plants with higher average seniority and experience. This declining part of the curve is not there either for the forest industry or for industrial machinery. It is not there either for wages in electronics. These conclusions survive when a host of other plausible productivity determinants (notably, education and plant vintage) are included in the analysis. We conclude that workforce aging may be a burden for firms in high-tech industries and less so in other industries.

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Bibliographic Info

Paper provided by The Research Institute of the Finnish Economy in its series Discussion Papers with number 1010.

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Length: 48 pages
Date of creation: 2006
Date of revision:
Handle: RePEc:rif:dpaper:1010

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Related research

Keywords: Aging; technology; TFP; wage determination; Finland; new economy; growth;

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Cited by:
  1. Göbel, Christian & Zwick, Thomas, 2010. "Which personnel measures are effective in increasing productivity of old workers?," ZEW Discussion Papers 10-069, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  2. Göbel, Christian & Zwick, Thomas, 2011. "Age and productivity: Sector differences?," ZEW Discussion Papers 11-058, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  3. Sandrine Levasseur, 2008. "Progrès technologique et employabilité des seniors," Documents de Travail de l'OFCE 2008-16, Observatoire Francais des Conjonctures Economiques (OFCE).
  4. Carone, Giuseppe & Denis, Cécile & Mc Morrow, Kieran & Mourre, Gilles & Röger, Werner, 2006. "Long-term labour productivity and GDP projections for the EU25 Member States : a production function framework," MPRA Paper 744, University Library of Munich, Germany.

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