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Technology Adoption and Demographic Change

  • Karsten Wasiluk

    ()

    (Department of Economics, University of Konstanz, Germany)

This paper studies the effect of demographic change on the technology distribution of an economy and on aggregate productivity growth. In the quantitative dynamic model, firms decide on employment and the technology they use subject to an aging workforce. Firms with a higher share of elderly workers update their technology less often and prefer older technologies than firms with a younger workforce. The shorter expected worklife of elderly workers makes firms reluctant to train them for new technologies. I calibrate the model for the German economy and simulate the projected demographic change. The results indicate that labor force aging reduces the realized annual productivity growth rate by 0.28 percentage points between 2010–2025.

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Paper provided by Department of Economics, University of Konstanz in its series Working Paper Series of the Department of Economics, University of Konstanz with number 2014-05.

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Length: 31 pages
Date of creation: 22 Oct 2014
Date of revision:
Handle: RePEc:knz:dpteco:1405
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  1. Patrick Aubert & Eve Caroli & Muriel Roger, 2006. "New technologies, organisation and age: firm-level evidence," Economic Journal, Royal Economic Society, vol. 116(509), pages F73-F93, 02.
  2. Giuseppe Carone, 2005. "Long-term labour force projections for the 25 EU Member States: A set of data for assessing the economic impact of ageing," European Economy - Economic Papers 235, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
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  11. Meyer, Jenny, 2008. "Older Workers and the Adoption of New Technologies," ZEW Discussion Papers 07-050 [rev.], ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  12. Guido Menzio & Irina A. Telyukova & Ludo Visschers, 2012. "Directed Search over the Life Cycle," PIER Working Paper Archive 12-002, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
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  22. repec:dgr:kubcen:200951 is not listed on IDEAS
  23. Jianmin Tang & Carolyn MacLeod, 2006. "Labour force ageing and productivity performance in Canada," Canadian Journal of Economics, Canadian Economics Association, vol. 39(2), pages 582-603, May.
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