Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/228708 
Year of Publication: 
2021
Series/Report no.: 
GLO Discussion Paper No. 762
Publisher: 
Global Labor Organization (GLO), Essen
Abstract: 
Population aging in advanced economies could have significant macroeconomic implica- tions, unless more individuals choose to participate in labor markets. In this context, the steep increase in the share of older workers who remain economically active since the mid- 1990s is an overlooked yet encouraging trend. We identify the drivers of the rise in participa- tion of the elderly relying on cross-country and individual-level data from advanced economies over the past three decades. Our findings suggest that the bulk of the increase in their par- ticipation is driven by gains in educational attainment and changes in labor market policies, such as the tax benefit system, and pension reforms. Urbanization and the increasing role of services also contributed, while automation weighed on their participation.
Subjects: 
Automation
elderly
labor force participation
pension
JEL: 
J11
J21
O33
Document Type: 
Working Paper

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