What are the drivers of TFP in the Aging Economy? Aging labor and ICT capital
The purpose of this paper is to investigate what are the drivers of the TFP, focusing on the quality of the labor and capital inputs. We investigate how different combinations of age and skill groups in the labor input and the ICT content of the capital input are related to TFP in the manufacturing industries of some OECD countries. We find that among the low-skilled the aging process is a negative driver of productivity, but among the high-skilled it is a positive driver. We also examine how the interactions of ICT intensity and worker age/skill combinations are related to TFP. We suggest labor and ICT indexes which tell how much the development of age/skill group shares would have affected TFP without increase in ICT use, or how much ICT would have affected TFP without changes in work force composition.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Mukoyama, Toshihiko, 2008. "Endogenous depreciation, mismeasurement of aggregate capital, and the productivity slowdown," Journal of Macroeconomics, Elsevier, vol. 30(1), pages 513-522, March.
- Pekka Ilmakunnas & Mika Maliranta, 2005.
"Technology, Labour Characteristics and Wage-productivity Gaps,"
Oxford Bulletin of Economics and Statistics,
Department of Economics, University of Oxford, vol. 67(5), pages 623-645, October.
- Ilmakunnas, Pekka & Maliranta, Mika, 2003. "Technology, Labor Characteristic and Wage-productivity Gaps," Discussion Papers 860, The Research Institute of the Finnish Economy.
- Susanto Basu & John G. Fernald & Nicholas Oulton & Sylaja Srinivasan, 2003.
"The case of the missing productivity growth: or, does information technology explain why productivity accelerated in the United States but not the United Kingdom?,"
Working Paper Series
WP-03-08, Federal Reserve Bank of Chicago.
- Susanto Basu & John G. Fernald & Nicholas Oulton & Sylaja Srinivasan, 2003. "The Case of the Missing Productivity Growth: Or, Does Information technology explain why productivity accelerated in the United States but not the United Kingdom?," Harvard Institute of Economic Research Working Papers 2021, Harvard - Institute of Economic Research.
- Daniel van Vuuren & Paul de Hek, 2010.
"Are older workers overpaid? A literature review,"
CPB Discussion Paper
165, CPB Netherlands Bureau for Economic Policy Analysis.
- Malcomson, James M & Prior, Michael J, 1979. "The Estimation of a Vintage Model of Production for UK Manufacturing," Review of Economic Studies, Wiley Blackwell, vol. 46(4), pages 719-36, October.
- Jason G. Cummins & Giovanni L. Violante, 2002.
"Investment-Specific Technical Change in the US (1947-2000): Measurement and Macroeconomic Consequences,"
Review of Economic Dynamics,
Elsevier for the Society for Economic Dynamics, vol. 5(2), pages 243-284, April.
- Jason G. Cummins & Giovanni L. Violante, 2002. "Investment-specific technical change in the US (1947-2000): measurement and macroeconomics consequences," Finance and Economics Discussion Series 2002-10, Board of Governors of the Federal Reserve System (U.S.).
- Cummins, Jason G & Violante, Giovanni L, 2002. "Investment-Specific Technical Change in the US (1947-2000): Measurement and Macroeconomic Consequences," CEPR Discussion Papers 3584, C.E.P.R. Discussion Papers.
- McIntosh, James, 1986. "Economic growth and technical change in Britain 1950-1978," European Economic Review, Elsevier, vol. 30(1), pages 117-128, February.
- Jorgenson, Dale W. & Ho, Mun S. & Stiroh, Kevin J., 2003. "Lessons from the US growth resurgence," Journal of Policy Modeling, Elsevier, vol. 25(5), pages 453-470, July.
- van Ark, Bart, 2002. "Measuring the New Economy: An International Comparative Perspective," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 48(1), pages 1-14, March.
- Zvi Griliches, 1967. "Production Functions in Manufacturing: Some Preliminary Results," NBER Chapters, in: The Theory and Empirical Analysis of Production, pages 275-340 National Bureau of Economic Research, Inc.
- Thomas Lindh & Bo Malmberg, 1999. "Age structure effects and growth in the OECD, 1950-1990," Journal of Population Economics, Springer, vol. 12(3), pages 431-449.
- Rafael Gómez & Pablo Hernández de Cos, 2008. "Does Population Ageing Promote Faster Economic Growth?," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 54(3), pages 350-372, 09.
- Hellerstein, Judith K & Neumark, David & Troske, Kenneth R, 1999.
"Wages, Productivity, and Worker Characteristics: Evidence from Plant-Level Production Functions and Wage Equations,"
Journal of Labor Economics,
University of Chicago Press, vol. 17(3), pages 409-46, July.
- Judith K. Hellerstein & David Neumark & Kenneth R. Troske, 1996. "Wages, Productivity, and Worker Characteristics: Evidence from Plant-Level Production Functions and Wage Equations," NBER Working Papers 5626, National Bureau of Economic Research, Inc.
- Herbertsson, Tryggvi Thor, 2003. "Accounting for human capital externalities with an application to the Nordic countries," European Economic Review, Elsevier, vol. 47(3), pages 553-567, June.
- Dale W. Jorgenson & Mun S. Ho & Kevin J. Stiroh, 2003. "Lessons for Canada from the U.S. Growth Resurgence," International Productivity Monitor, Centre for the Study of Living Standards, vol. 6, pages 3-18, Spring.
- Pekka Ilmakunnas & Mika Maliranta & Jari Vainiomaki, 2000.
"The Roles of Employer and Employee Characteristics for Plant Productivity,"
Econometric Society World Congress 2000 Contributed Papers
1349, Econometric Society.
- Pekka Ilmakunnas & Mika Maliranta & Jari Vainiomäki, 2004. "The Roles of Employer and Employee Characteristics for Plant Productivity," Journal of Productivity Analysis, Springer, vol. 21(3), pages 249-276, May.
- Cabalero, R.J., 1997.
97-20, Massachusetts Institute of Technology (MIT), Department of Economics.
- Mary O'Mahony & Marcel P. Timmer, 2009. "Output, Input and Productivity Measures at the Industry Level: The EU KLEMS Database," Economic Journal, Royal Economic Society, vol. 119(538), pages F374-F403, 06.
- Temple, Jonathan R. W., 2001. "Generalizations that aren't? Evidence on education and growth," European Economic Review, Elsevier, vol. 45(4-6), pages 905-918, May.
- Oliner, Stephen D. & Sichel, Daniel E., 2003.
"Information technology and productivity: where are we now and where are we going?,"
Journal of Policy Modeling,
Elsevier, vol. 25(5), pages 477-503, July.
- Stephen D. Oliner & Daniel E. Sichel, 2002. "Information technology and productivity: where are we now and where are we going?," Economic Review, Federal Reserve Bank of Atlanta, issue Q3, pages 15-44.
- Stephen D. Oliner & Daniel E. Sichel, 2002. "Information technology and productivity: where are we now and where are we going?," Finance and Economics Discussion Series 2002-29, Board of Governors of the Federal Reserve System (U.S.).
- James Feyrer, 2007. "Demographics and Productivity," The Review of Economics and Statistics, MIT Press, vol. 89(1), pages 100-109, February.
When requesting a correction, please mention this item's handle: RePEc:eee:jcecon:v:41:y:2013:i:1:p:201-211. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.