Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/72304
Authors: 
Hofer, Helmut
Url, Thomas
Year of Publication: 
2005
Series/Report no.: 
Reihe Ökonomie / Economics Series, Institut für Höhere Studien (IHS) 179
Abstract: 
We integrate age specific productivity differentials into a long-run neoclassical growth model for the Austrian economy with a highly disaggregated labor supply structure. We assume two life time productivity profiles reflecting either small or large hump-shaped productivity differentials and compute an average labor productivity index using three different aggregation functions: linear, Cobb-Douglas, and a nested Constant Elasticity of Substitution (CES). Model simulations with age specific productivity differentials are compared to a base scenario with uniform productivity over age groups. Depending on the aggregation function, the simulation results show only negligible or small negative effects on output and other macroeconomic key variables.
Subjects: 
age specific productivity
demographic change
model simulation
JEL: 
O41
J11
E17
Document Type: 
Working Paper

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