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Will You Still Need Me: When I’m 64?

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  • Jan Ours

Abstract

For various reasons the relationship between age and productivity is a matter of policy concern. I present new empirical research showing how productivity is affected by age. I study age effects at the individual level by analyzing data on running and publishing in economic journals. Furthermore I present empirical evidence at the firm level on the relationship between age, wage and productivity. In particular I address the potential wage-productivity gap that might occur at higher ages. I conclude that the productivity of older workers indeed decreases with their age. Nevertheless, the decline is limited. Furthermore, I find no evidence of a pay-productivity at higher ages.
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Suggested Citation

  • Jan Ours, 2009. "Will You Still Need Me: When I’m 64?," De Economist, Springer, vol. 157(4), pages 441-460, December.
    • Handle: RePEc:kap:decono:v:157:y:2009:i:4:p:441-460
    DOI: 10.1007/s10645-009-9132-7
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    References listed on IDEAS

    as
    1. Jan Ours & Frederic Vermeulen, 2007. "Ranking Dutch Economists," De Economist, Springer, vol. 155(4), pages 469-487, December.
    2. Andrew J. Oswald, 2007. "An Examination of the Reliability of Prestigious Scholarly Journals: Evidence and Implications for Decision‐Makers," Economica, London School of Economics and Political Science, vol. 74(293), pages 21-31, February.
    3. van Ours, J.C. & Stoeldraijer, L., 2010. "Age, Wage and Productivity," Other publications TiSEM 1521c170-405f-41a4-9bd0-c, Tilburg University, School of Economics and Management.
    4. Benoit Dostie, 2011. "Wages, Productivity and Aging," De Economist, Springer, vol. 159(2), pages 139-158, June.
    5. Thierry Lallemand & François Rycx, 2009. "Are Older Workers Harmful for Firm Productivity?," De Economist, Springer, vol. 157(3), pages 273-292, September.
    6. van Ours, J. C. & Ridder, G., 2003. "Fast track or failure: a study of the graduation and dropout rates of Ph D students in economics," Economics of Education Review, Elsevier, vol. 22(2), pages 157-166, April.
    7. Malmberg, Bo & Lindh, Thomas & Halvarsson, Max, 2005. "Productivity consequences of workforce ageing - Stagnation or a Horndal effect?," Arbetsrapport 2005:17, Institute for Futures Studies.
    8. Sharon M. Oster & Daniel S. Hamermesh, 1998. "Aging And Productivity Among Economists," The Review of Economics and Statistics, MIT Press, vol. 80(1), pages 154-156, February.
    9. Weiss, Yoram, 1985. "The Effect of Labor Unions on Investment in Training: A Dynamic Model," Journal of Political Economy, University of Chicago Press, vol. 93(5), pages 994-1007, October.
    10. Ilmakunnas, Pekka & Maliranta, Mika, 2007. "Aging, Labor Turnover and Firm Performance," Discussion Papers 1092, The Research Institute of the Finnish Economy.
    11. Pantelis Kalaitzidakis & Theofanis P. Mamuneas & Thanasis Stengos, 2003. "Rankings of Academic Journals and Institutions in Economics," Journal of the European Economic Association, MIT Press, vol. 1(6), pages 1346-1366, December.
    12. Fair, Ray C, 1994. "How Fast Do Old Men Slow Down?," The Review of Economics and Statistics, MIT Press, vol. 76(1), pages 103-118, February.
    13. Lazear, Edward P, 1979. "Why Is There Mandatory Retirement?," Journal of Political Economy, University of Chicago Press, vol. 87(6), pages 1261-1284, December.
    14. Vegard Skirbekk, 2004. "Age and Individual Productivity: A Literature Survey," Vienna Yearbook of Population Research, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna, vol. 2(1), pages 133-154.
    15. Loewenstein, George F & Sicherman, Nachum, 1991. "Do Workers Prefer Increasing Wage Profiles?," Journal of Labor Economics, University of Chicago Press, vol. 9(1), pages 67-84, January.
    16. Pekka Ilmakunnas & Mika Maliranta, 2005. "Technology, Labour Characteristics and Wage‐productivity Gaps," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 67(5), pages 623-645, October.
    17. J. Peter Neary & James A. Mirrlees & Jean Tirole, 2003. "Evaluating Economics Research in Europe: An Introduction," Journal of the European Economic Association, MIT Press, vol. 1(6), pages 1239-1249, December.
    18. Kalaitzidakis, P. & Mamuneas, T.P. & Stengos, T., 2003. "Rankings of Academic Journals and Institutions," Working Papers 2003-8, University of Guelph, Department of Economics and Finance.
    19. van Ours, Jan C. & Stoeldraijer, Lenny, 2010. "Age, wage and productivity," CEPR Discussion Papers 7713, C.E.P.R. Discussion Papers.
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    More about this item

    Keywords

    age; productivity; matched worker-firm data; J14; J24; J31;
    All these keywords.

    JEL classification:

    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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