Quotation Mahlberg, Bernhard and Freund, Inga and Crespo Cuaresma, Jesus and Fürnkranz-Prskawetz, Alexia. 2013. Ageing, productivity and wages in Austria. Labour Economics 22, 5-15.


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Abstract

Current demographic developments in industrialized countries 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. Using a new matched employer–employee panel dataset for Austrian firms for the period 2002–2005, we study the relationship between the age structure of employees, labour productivity and wages. These data allow us to account, simultaneously, for both socio-demographic characteristics of employees and firm heterogeneity, in order to explain labour productivity and earnings. Our results indicate that firm productivity is not negatively related to the share of older employees it employs. We also find no evidence for overpayment of older employees. Our results do not show any association between wages and the share of older employees. Furthermore, we find a negative relationship between the share of young employees and labour productivity as well as wages, which is more prevalent in the industry and construction sector.

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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Labour Economics
Citation Index SSCI
WU Journalrating 2009 A
WU-Journal-Rating new FIN-A, STRAT-B, VW-C, WH-B
Language English
Title Ageing, productivity and wages in Austria
Volume 22
Year 2013
Page from 5
Page to 15
Reviewed? Y
URL http://www.sciencedirect.com/science/article/pii/S0927537112001042
DOI http://dx.doi.org/10.1016/j.labeco.2012.09.005

Associations

People
Mahlberg, Bernhard (Details)
Crespo Cuaresma, Jesus (Details)
Fürnkranz-Prskawetz, Alexia (Details)
External
Freund, Inga (TU Wien, Austria)
Organization
Institute for Macroeconomics IN (Details)
Research Institute for Human Capital and Development FI (Details)
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