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Aging in a Neoclassical Theory of Labor Demand

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  • Thomas Christiaans

Abstract

This paper introduces aging of workers into the neoclassical theory of labor demand. Among other things, it is shown that under reasonable hypotheses employment, even of younger workers, increases in the span of working life. Using the standard model without aging, the analysis of such issues has not been possible up to now. The main results derived for constant returns to scale carry over to the qualitatively equivalent steady state of a model with decreasing returns to scale. Thus, constant returns to scale loose much of their special flavor. The implied age-structure of optimum employment turns out to accord well with empirical evidence.

Suggested Citation

  • Thomas Christiaans, 2003. "Aging in a Neoclassical Theory of Labor Demand," Volkswirtschaftliche Diskussionsbeiträge 112-03, Universität Siegen, Fakultät Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht.
    • Handle: RePEc:sie:siegen:112-03
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    File URL: http://www.wiwi.uni-siegen.de/vwl/repec/sie/papers/112-03.pdf
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    References listed on IDEAS

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    1. Marco Runkel, 1999. "Product Durability, Solid Waste Management and Market Structure," Volkswirtschaftliche Diskussionsbeiträge 78-99, Universität Siegen, Fakultät Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht.
    2. Walter Buhr, 2003. "What is infrastructure?," Volkswirtschaftliche Diskussionsbeiträge 107-03, Universität Siegen, Fakultät Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht.
    3. Rüdiger Pethig, 1993. "TV-Monopoly, Advertising and Program Quality," Volkswirtschaftliche Diskussionsbeiträge 45-93, Universität Siegen, Fakultät Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht.
    4. Rüdiger Pethig, 2001. "Massenmedien, Werbung und Märkte. Eine wirtschaftstheoretische Analyse," Volkswirtschaftliche Diskussionsbeiträge 100-01, Universität Siegen, Fakultät Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht.
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    Cited by:

    1. Prskawetz, Alexia & Veliov, Vladimir M., 2007. "Age-specific dynamic labor demand and human capital investment," Journal of Economic Dynamics and Control, Elsevier, vol. 31(12), pages 3741-3777, December.

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    More about this item

    Keywords

    Labor Demand; Aging; Adjustment Costs;
    All these keywords.

    JEL classification:

    • D92 - Microeconomics - - Micro-Based Behavioral Economics - - - Intertemporal Firm Choice, Investment, Capacity, and Financing
    • J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand

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