Ageing workforce and productivity: the unintended effects of retirement regulation in Italy

Roberto Gabriele (), Enrico Tundis () and Enrico Zaninotto ()
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Enrico Tundis: University of Trento
Enrico Zaninotto: University of Trento

Economia Politica: Journal of Analytical and Institutional Economics, 2018, vol. 35, issue 1, No 8, 163-182

Abstract: Abstract Making use of the quasi-natural experimental setting provided by the unexpected and sudden change in Italian retirement legislation at the end of 2011 (Fornero law), this article estimates the effect on productivity of a reduction of sorting mechanisms among older workers. The estimation uses provincial-level data. The increase of retirement age and restrictions on early retirement plans locked older employees into the workplace with a negative impact on productivity. Assessing the sorting effect contributes to the age-productivity debate, isolating more precisely the average effect of ageing on productivity.

Keywords: Ageing workforce; Labour productivity; Pension reforms; Quasi-natural experiments (search for similar items in EconPapers)
JEL-codes: C33 H55 J26 O47 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (3)

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DOI: 10.1007/s40888-017-0079-x

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