Ageing, productivity and wages in Austria
Bernhard Mahlberg (),
Jesus Crespo Cuaresma () and
No 03/2011, ECON WPS - Vienna University of Technology Working Papers in Economic Theory and Policy from Vienna University of Technology, Institute for Mathematical Methods in Economics, Research Group Economics (ECON)
The current demographic developments and their consequences for workforce ageing challenge the sustainability of intergenerational transfers and economic growth. A shrinking share of the young workforce will have to support a growing share of elderly, non-working people. Therefore, the productivity of the workforce is central to a sustainable economic future. In order to study the relation between the age structure of employees and labour productivity at the firm level, we use a new matched employer-employee panel data set for Austrian firms spanning the period 2002- 2005. These data allow us to account simultaneously for socio-demographic characteristics of the employees as well as firm heterogeneity to explain labour productivity. Our results clearly show that the age-productivity as well as age-wage profile have a strong industry-specific component. In the service sector, an ageing workforce does not necessarily imply a negative productivity effect. Moreover, we cannot find any evidence for an overpayment of elderly employees.
Keywords: age-productivity profile; age-wage profile; employer-employee data; sector affiliation (search for similar items in EconPapers)
JEL-codes: J14 J24 J82 (search for similar items in EconPapers)
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Journal Article: Ageing, productivity and wages in Austria (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:tuweco:032011
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