2007/02/01 by Alexia Prskawetz, Thomas Fent · 1 citation
Economics, Econometrics and Finance · Health Professions · #Economic Growth and Productivity #Fiscal Policy and Economic Growth #Global Health Care Issues
paper · doi:10.1111/j.1467-999x.2007.00262.x
crossref issued 2007/02/01 · crossref published 2007/02/01 · crossref published-print 2007/02/01 · openalex publication_date 2007/02/01 · crossref published-online 2007/02/08 · crossref created 2007/02/08 · crossref deposited 2025/01/13 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/29 · crossref indexed 2026/07/29
ABSTRACT We study the sensitivity of projected economic productivity (output per worker) with respect to alternative projections of labour supply and alternative assumptions on the substitutability of workers at different ages. We show that in a pure labour economy assuming imperfect substitution of workers at different ages implies an increase in relative productivity during the next two decades. For a decreasing or hump‐shaped age‐specific productivity profile a negative tradeoff between an increasing labour force at older ages and aggregate productivity results. A decline in productivity can be attenuated by adjusting labour force participation rates to levels currently observed in Nordic countries.