What decreases the TFP ? The aging labor and ICT imbalance
Tatsuyoshi Miyakoshi () and
Pekka Ilmakunnas ()
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Tatsuyoshi Miyakoshi: Osaka School of International Public Policy, Osaka University
No 09-03, Discussion Papers in Economics and Business from Osaka University, Graduate School of Economics
The purpose of this paper is to investigate what decreases TFP, why TFP has decreased in some countries and how large the decreases of TFP are. We focus on the quality of labor and capital inputs and use cross country data for the manufacturing industries of some OECD countries. We provide a comprehensive empirical investigation based on two hypotheses, substitutability and complementarity of labor input age and skill categories. Further, we provide an aging index, which tells how much the share of ICT capital should be increased to counterbalance decreases of TFP caused by the aging of the labor input.
Keywords: TFP; quality of labor and capital, substitutability and complementarity of age and skill groups, aging index (search for similar items in EconPapers)
JEL-codes: O11 J00 J80 O40 (search for similar items in EconPapers)
Pages: 29 pages
New Economics Papers: this item is included in nep-age, nep-eff and nep-lab
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Persistent link: https://EconPapers.repec.org/RePEc:osk:wpaper:0903
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