Workforce Ageing and Labour Productivity Dynamics

Acemoglu, D. & Restrepo, P. (2018). The Race between Man and Machine: Implications of Technology for Growth, Factor Shares, and Employment. American Economic Review, 108, 1488-1542. https://doi.org/10.1257/aer.2016069610.1257/aer.20160696Search in Google Scholar

Ackum Agell, S. (1994). Swedish Evidence on the Efficiency Wage Hypothesis. Labour Economics, 1(2), 129-150. https://doi.org/10.1016/0927-5371(94)90001-910.1016/0927-5371(94)90001-9Search in Google Scholar

Agenor, P. R. & Neanidis, K. C. (2011). The Allocation of Public Expenditure and Economic Growth. The Manchester School, 79(4), 899-931. https://doi.org/10.1111/j.1467-9957.2011.02197.x10.1111/j.1467-9957.2011.02197.xSearch in Google Scholar

Aiyar, S., Ebeke, C., & Shao, X. (2016). The Impact of Workforce Aging on European Productivity. Washington D.C.: International Monetary Fund. Working Paper No. 16/238. https://doi.org/10.5089/9781475559729.00110.5089/9781475559729.001Search in Google Scholar

Bai, J., & Ng, S. (2004). A Panic Attack on Unit Roots and Cointegration. Econometrica, 72(4), 1127-1177.10.1111/j.1468-0262.2004.00528.xSearch in Google Scholar

Baumol, W. J. (1952). The transactions demand for cash: An inventory theoretic approach.” The Quarterly Journal of Economics, 66(4), 545-556. https://doi.org/10.2307/188210410.2307/1882104Search in Google Scholar

Beaudry, P. & Collard, F. (2003). Recent technological and economic change among industrialized countries: insights from population growth. Scandinavian Journal of Economics, 105(3), 441-463. https://doi.org/10.1111/1467-9442.t01-2-0000710.1111/1467-9442.t01-2-00007Search in Google Scholar

Behrman, J. R., Duryea, S. & Székely M. (1999). Human capital in Latin America at the end of the 20^thcentury. Mimeo, University of Pennsylvania.Search in Google Scholar

Ben-Porath, Y. (1967). The Production of Human Capital and the Life Cycle of Earnings. Journal of Political Economy, 75(4), 352-365. https://doi.org/10.1086/25929110.1086/259291Search in Google Scholar

Bloom, D. E., Canning, D. & Graham, B. (2003). Longevity and life cycle savings. Scandinavian Journal of Economics, 105, 319-338. https://doi.org/10.1111/1467-9442.t01-1-0000110.1111/1467-9442.t01-1-00001Search in Google Scholar

Buyse, T., Heylen, F., & Schoonackers, R. (2016). On the Role of Public Policies and Wage Formation for Private Investment in R&D: A Long-run Panel Analysis. Brussels: National Bank of Belgium. Working Paper Research No. 292.Search in Google Scholar

Conference Board (2019). Press release: Global Productivity Growth Remains Weak, Extending Slowing Trend. Retrieved from: https://www.conference-board.org/press/pressdetail.cfm?pressid=8995Search in Google Scholar

Cooley, T. & Henriksen, E. (2018). The demographic deficit. Journal of Monetary Economics, Elsevier, 93(C), 45-62. https://doi.org/10.1016/j.jmoneco.2017.11.00510.1016/j.jmoneco.2017.11.005Search in Google Scholar

Dickey, D. & Fuller, W. (1979). Distribution of the Estimators for Autoregressive Time Series With a Unit Root. Journal of the American Statistical Association, 74(366), 427-431. https://doi.org/10.1080/01621459.1979.1048253110.1080/01621459.1979.10482531Search in Google Scholar

Dixon, S. (2003). Implications of population ageing for the labour market. Labour Market trends, 111.Search in Google Scholar

Driscoll, J. C. & Kraay, A. C. (1998). Consistent Covariance Matrix Estimation with Spatially Dependent Panel Data. Review of Economics and Statistics, 80, 549–560. https://doi.org/10.1162/00346539855782510.1162/003465398557825Search in Google Scholar

Everaert, G. & Vierke, H. (2016). Demographics and Business Cycle Volatility: A Spurious Relationship? Journal of Applied Econometrics, John Wiley & Sons, Ltd, 31(7), 1467-1477. https://doi.org/10.1002/jae.251910.1002/jae.2519Search in Google Scholar

Favero, C. A. & Galasso, V. (2015). Demographics and the Secular Stagnation Hypothesis in Europe. CEPR Discussion Papers, 10887.10.1093/acprof:oso/9780198754688.003.0006Search in Google Scholar

Freyer, J. (2007). Demographics and Productivity. The Review of Economics and Statistics, MIT Press, 89(1), 100-109. https://doi.org/10.1162/rest.89.1.10010.1162/rest.89.1.100Search in Google Scholar

Feenstra, R. C., Inklaar, R. & Timmer, M. P. (2015). The Next Generation of the Penn World Table. American Economic Review, 105(10), 3150-3182. https://doi.org/10.1257/aer.2013095410.1257/aer.20130954Search in Google Scholar

Gordon, R. J. (2014). The Demise of U.S. Economic Growth: Restatement, Rebuttal, and Reflections. Cambridge, Mass: National Bureau of Economic Research. Working Paper No. 19895. https://doi.org/10.3386/w1989510.3386/w19895Search in Google Scholar

Han, Y. (2018). Demographic Changes and Unemployment Volatility. Working Paper.Search in Google Scholar

Hansen, A. (1939). Economic Progress and Declining Population Growth. The American Economic Review, 29(1), 1-15.Search in Google Scholar

Jamovich, N. & Siu, H. (2009). The Young, the Old, and the Restless: Demographics and Business Cycle Volatility. American Economic Association, 99(3), 804-26. https://doi.org/10.1257/aer.99.3.80410.1257/aer.99.3.804Search in Google Scholar

Jones, B. F. (2010). Age and Great Invention. Review of Economics and Statistics, 92(1), 1-14. https://doi.org/10.1162/rest.2009.1172410.1162/rest.2009.11724Search in Google Scholar

Kropko, J & Kubinec, R. (2018). Why the Two-Way Fixed Effects Model Is Difficult to Interpret, and What to Do About It. SSRN Scholarly Paper ID 3062619, Social Science Research Network, Rochester, NY.Search in Google Scholar

Lehman, H. C. (1953). Age and achievement. Princeton University Press.Search in Google Scholar

Lucas, R. E., Jr. (1988). On the Mechanics of Economic Development. Journal of Monetary Economics, 22(4), 3-42. https://doi.org/10.1016/0304-3932(88)90168-710.1016/0304-3932(88)90168-7Search in Google Scholar

Mankiw, N. G., Romer, D. & Weil, D. N. (1992). A Contribution to the Empirics of Economic Growth. The Quarterly Journal of Economics, 107(2), 407-437. https://doi.org/10.2307/211847710.2307/2118477Search in Google Scholar

Mason, A. (2005). Demographic transition and demographic dividends in developed and developing countries. United Nations expert group meeting on social and economic implications of changing population age structure.Search in Google Scholar

Modigliani, F. (1966). The Life Cycle Hypothesis of Saving, the Demand for Wealth and the Supply of Capital. Social Research, 33(2), 160–217.Search in Google Scholar

Mummolo, J. & Peterson, E. (2018). Improving the Interpretation of Fixed Effects Regression Results. Political Science Research and Methods, 6(4), 829-835. https://doi.org/10.1017/psrm.2017.4410.1017/psrm.2017.44Search in Google Scholar

Pesaran, M. H. (2004). General Diagnostic Tests for Cross Section Dependence in Panels. Cambridge Working Papers in Economics No. 0435.10.2139/ssrn.572504Search in Google Scholar

Pesaran, M. H. (2006). Estimation and inference in large heterogeneous panels with a multifactor error structure. Econometrica, 74(4), 967-1012. https://doi.org/10.1111/j.1468-0262.2006.00692.x10.1111/j.1468-0262.2006.00692.xSearch in Google Scholar

Pesaran, M. H., & Smith, R. (1995). Estimating long-run relationships from dynamic heterogeneous panels. Journal of Econometrics, 68(1), 79-113. https://doi.org/10.1016/0304-4076(94)01644-F10.1016/0304-4076(94)01644-FSearch in Google Scholar

Prskawetz, A., Fent, T., Barthel, W., Crespo-Cuaresma, J., Lindh, T., Malmberg, B. & Halvarsson, M. (2007). The Relationship Between Demographic Change and Economic Growth in the EU. Vienna Institute of Demography, Austrian Academy of Sciences. Research Report 32.Search in Google Scholar

Romer, P. M. (1986). Increasing Returns and Long Run Growth. Journal of Political Economy, 94(5), 1002-1037. https://doi.org/10.1086/26142010.1086/261420Search in Google Scholar

Romer, P. M. (1990). Endogenous Technological Change. Journal of Political Economy, University of Chicago Press, 98(5), 71-102. https://doi.org/10.1086/26172510.1086/261725Search in Google Scholar

Sakamoto, T. (2011). Productivity, Human Capital Formation Policy, and Redistribution: Do Government Policies Promote Productivity? SSRN Electronic Journal, 10, 21-39. https://doi.org/10.2139/ssrn.208915010.2139/ssrn.2089150Search in Google Scholar

Statista. (2019). Median age of the world population. Available at: https://www.statista.com/statistics/268766/medi-an-age-of-the-world-population/.Search in Google Scholar

UNESCO Institute for Statistics. (2019). Data for the sustainable development goals. Retrieved from: http://uis.unesco.org.Search in Google Scholar

United Nations, Department of Economic and Social Affairs, Population Division (2019). World Population Prospects 2019, Online Edition. Available at: https://population.un.org/wpp/.Search in Google Scholar

World Bank’s World Development Indicators. (2019). Government expenditure on education, total (% of GDP). Available at: https://data.worldbank.org/indicator/SE.XPD.TOTL.GD.ZS.Search in Google Scholar

White, H. (1980). A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroskedasticity. Econometrica, 48(4), 817–838. https://doi.org/10.2307/191293410.2307/1912934Search in Google Scholar