Employment and Growth in an Aging Society. A Simulation Study for Austria

Josef Baumgartner, Helmut Hofer, Serguei Kaniovski, Ulrich Schuh and Thomas Url
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Ulrich Schuh: Institute for Advanced Studies (IHS), Vienna
Thomas Url: Austrian Institute of Economic Research (WIFO)

No 163, Economics Series from Institute for Advanced Studies

Abstract: In this study we use a long run macroeconomic model for Austria to simulate the effects of aging on employment, output growth, and the solvency of the social security system. By disaggregating the population into six age cohorts and modelling sex specific participation rates for each cohort, we are able to account for the future demographic trends. Apart from a baseline scenario, we perform three alternative simulations that highlight the effects of aging from different perspectives. These include (1) purely demographic developments, (2) increasing labour market imperfections, and (3) higher economic growth due to a productivity shock.

Keywords: Economic growth; Aging; Austria (search for similar items in EconPapers)
JEL-codes: C6 E2 O4 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2004-11
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https://irihs.ihs.ac.at/id/eprint/1602 First version, 2004 (application/pdf)

Related works:
Journal Article: Employment and growth in an aging society: a simulation study for Austria (2006)
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