Vintage effects, aging and productivity

Anna Lovasz and Mariann Rigó

Labour Economics, 2013, vol. 22, issue C, 47-60

Abstract: We provide new empirical evidence on the link between age and productivity using a transitional context. Building on a model of skill obsolescence, we assess the long-term adjustment process following a sudden change in skills needed in production that severely worsened older workers' labor market situation. The model implies that (a) the devaluation of skills should affect highly educated older workers more severely, (b) the disadvantage should disappear over time as newer cohorts acquire more suitable human capital, and (c) the timing should differ among firm ownership types, reflecting the inflow of modern technologies and practices.

Keywords: Aging; Labor productivity; Skill obsolescence (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (2)

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Working Paper: Vintage Effects, Ageing and Productivity (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:labeco:v:22:y:2013:i:c:p:47-60

DOI: 10.1016/j.labeco.2012.08.005

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