Arbetsrapport, Institutet för Framtidsstudier - Institute for Futures Studies
Productivity consequences of workforce ageing - Stagnation or a Horndal effect?
(), Thomas Lindh
() and Max Halvarsson
Abstract: Data linking the production of value-added at the plant
level to the individual employees provide an opportunity to deepen the
understanding of how the labor force composition relates to productivity
performance. In view of the anticipated aging of the workforce in
industrialised economies a body of research has emerged that indicate that
individual productivity has a more pronounced hump-shape than the wage
profile. This paper studies these issues by examining the composition of
the workforce at the plant level in relation to the productivity
performance of the plants. Our data cover the Swedish mining and
manufacturing industries 1985-1996. The fact that older workers selectively
work with older capital may have biased results found in the literature.
Endogeneity of workforce composition poses serious estimation problems, but
our attempts to cope with these problems tend to indicate that biases in
general go in the direction that productivity of the young is overestimated
and the productivity of the old is underestimated.
Keywords: workforce ageing; productivity growth; (follow links to similar papers)
JEL-Codes: J10; J21; J24; (follow links to similar papers)
43 pages, December 12, 2005
ISSN 1652-120X ISBN 91-89655-75-3
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