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dc.contributor.authorWerding, Martinen_US
dc.date.accessioned2008-02-14en_US
dc.date.accessioned2009-07-28T08:29:36Z-
dc.date.available2009-07-28T08:29:36Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/26252-
dc.description.abstractSlower growth of the labour force and an increase in old-age dependency will reduce the growth of aggregate output and output per capita in many developed countries. However, a major question is whether there is any systematic link between demographics and the productivity of those who will still be active during the up-coming period of demographic ageing. As productivity is difficult to investigate at a micro level, the paper builds on a large macro-data panel covering developed as well as developing countries and explores the impact of the age composition of the labour force on levels and growth rates of output per worker as well as on total factor productivity (TFP). The results confirm earlier findings by Feyrer (2007), pointing to an inversely U-shaped relationship between the share of workers in different age groups and productivity which mainly works through the TFP channel and is effectively much stronger than what can be observed at a micro level. In-depths analyses suggest that cohort effects in human-capital accumulation may contribute to this pattern, but do not explain it. The paper concludes with simulations for a number of OECD countries showing that the impact of projected ageing of the labour force on productivity and per-capita growth could be really substantial in some cases.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper 2207en_US
dc.subject.jelE13en_US
dc.subject.jelJ11en_US
dc.subject.jelO47en_US
dc.subject.jelO50en_US
dc.subject.ddc330en_US
dc.subject.keyworddemographic changeen_US
dc.subject.keywordeconomic growthen_US
dc.subject.keywordtotal factor productivityen_US
dc.subject.keywordmacro-level panel regressionsen_US
dc.subject.keywordsimulationsen_US
dc.subject.stwBevölkerungsentwicklungen_US
dc.subject.stwWirtschaftswachstumen_US
dc.subject.stwAlternde Bevölkerungen_US
dc.subject.stwHumankapitalen_US
dc.subject.stwProduktivitäten_US
dc.subject.stwPanelen_US
dc.subject.stwSchätzungen_US
dc.subject.stwOECD-Staatenen_US
dc.titleAgeing and productivity growth: are there macro-level cohort effects of human capital?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn558353282en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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