The Impact of Workforce Aging on European Productivity
By Shekhar Aiyar, C. Ebeke. Social Science Research Network, 2016
185 citations recorded by the source corpus.
The age-distribution of Europe’s workforce has shifted towards older workers over the past few decades, a process expected to accelerate in the years ahead.. This paper studies the effect of the aging of the workforce on labor productivity, identifies the main transmission channels, and examines what policies might mitigate the effects of aging. We find that workforce aging reduces growth in labor productivity, mainly through its negative effect on TFP growth. Projected workforce aging could reduce TFP growth by an average of 0.2 percentage points every year over the next two decades. A variety of policies could ameliorate this effect.
Subfields: Demography, Economics and Econometrics
View Paper: https://www.semanticscholar.org/paper/60f8bc56fee858f4063150ff5c321f07f900e2fa
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Citations in the corpus
- Quality of government and regional resilience in the European Union. Evidence from the Great Recession (2019, background): “At this point, the literature stresses that a workers productivity systematically varies over his or her working life, for reasons such as the accumulation of experience over time, depreciation of knowledge, and agerelated trends in physical and mental capabilities (Aiyar et al., 2016).”
- Gone with the Headwinds: Global Productivity (2017, background): “This negative effect could be dampened by improving health support and affordability for mature workers, who are disproportionately affected by health risk, and facilitating human capital upgrading and retraining (Aiyar, Ebeke, and Shao 2016).”