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Vintage effects, aging and productivity

  • Lovász, Anna
  • Rigó, Mariann

We provide new empirical evidence on the link between age and productivity using a transitional context. Building on a model of skill obsolescence, we assess the long-term adjustment process following a sudden change in skills needed in production that severely worsened older workers' labor market situation. The model implies that (a) the devaluation of skills should affect highly educated older workers more severely, (b) the disadvantage should disappear over time as newer cohorts acquire more suitable human capital, and (c) the timing should differ among firm ownership types, reflecting the inflow of modern technologies and practices.

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Article provided by Elsevier in its journal Labour Economics.

Volume (Year): 22 (2013)
Issue (Month): C ()
Pages: 47-60

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Handle: RePEc:eee:labeco:v:22:y:2013:i:c:p:47-60
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