Demographic Change and Economic Growth

THE SILVER MARKET PHENOMENON: BUSINESS OPPORTUNITIES IN AN ERA OF DEMOGRAPHIC CHANGE, pp. 3-16, Florian Kohlbacher and Cornelius Herstatt (eds.), Springer, October 2008

Posted: 3 Mar 2012

See all articles by Thomas Fent

Thomas Fent

Austrian Academy of Sciences - Vienna Institute of Demography

Bernhard Mahlberg

Institute for Industrial Research (IWI); Vienna University of Economics and Business - Institute for Production Management

Alexia Prskawetz

Austrian Academy of Sciences - Vienna Institute of Demography

Date Written: 2008

Abstract

In this chapter we discuss the relationship between changes in a country’s age structure and its economic growth and productivity. We summarize the recent literature on the impact of a country’s age structure on economic growth and relate the results to our own empirical findings. Our results indicate a positive impact of the age group 50-64 on economic growth. Moreover, a high proportion of people in the age group 15-29 facilitate technology absorption. The use of matched employer-employee data sets allows us to estimate age-productivity profiles at the firm level. Considering all firms in the data set reveals a negative productivity effect of the share of older workers (50). Considering only large firms reveals no impact of the age structure in the mining and manufacturing industries and a negative impact of the share of younger workers for the non-manufacturing sector.

Keywords: economic growth, labor productivity, macro level analysis, firm level analysis

JEL Classification: J11, J24, O40

Suggested Citation

Fent, Thomas and Mahlberg, Bernhard and Fürnkranz-Prskawetz, Alexia, Demographic Change and Economic Growth (2008). THE SILVER MARKET PHENOMENON: BUSINESS OPPORTUNITIES IN AN ERA OF DEMOGRAPHIC CHANGE, pp. 3-16, Florian Kohlbacher and Cornelius Herstatt (eds.), Springer, October 2008 . Available at SSRN: https://ssrn.com/abstract=1999361

Thomas Fent (Contact Author)

Austrian Academy of Sciences - Vienna Institute of Demography ( email )

Prinz Eugenstr. 8-10
Vienna, 1040
Austria

Bernhard Mahlberg

Institute for Industrial Research (IWI) ( email )

Mittersteig 10/4
Vienna, 1050
Austria
+43 1 513 44 11 0 (Phone)
+43 1 513 44 11 2099 (Fax)

HOME PAGE: http://www.iwi.ac.at/

Vienna University of Economics and Business - Institute for Production Management ( email )

Welthandelsplatz 1
Building D2, Entrance C, 3rd floor
Vienna, 1020
Austria
+43 1 313 36 - 5615 (Phone)

HOME PAGE: http://https://www.wu.ac.at/en/prodmanengl/

Alexia Fürnkranz-Prskawetz

Austrian Academy of Sciences - Vienna Institute of Demography ( email )

Prinz Eugenstr. 8-10
Vienna, 1040
Austria

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