Employment and growth in an aging society: a simulation study for Austria

Baumgartner, Josef; Hofer, Helmut; Kaniovski, Serguei; Schuh, Ulrich and Url, Thomas (2006) Employment and growth in an aging society: a simulation study for Austria. Empirica, 33 (1), pp. 19-33. DOI: 10.1007/s10663-006-9003-2

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In this study we use a long run macroeconomic model for Austria to simulate the effects of aging on employment, output growth, and the solvency of the social security system. By disaggregating the population into six age cohorts and modelling sex specific participation rates for each cohort we are able to account for the future demographic trends. Apart from a baseline scenario, we perform three alternative simulations that highlight the effects of aging from different perspectives. These include (1) purely demographic developments, (2) increasing labour market imperfections, and (3) higher economic growth due to a productivity shock. (author's abstract)

Item Type: Article in Academic Journal
Keywords: economic growth, aging, Austria
Classification Codes (e.g. JEL): C6, E2, O4
Date Deposited: 20 May 2015 13:30
Last Modified: 01 Apr 2016 14:19
DOI: 10.1007/s10663-006-9003-2
ISSN: 0340-8744 (Print), 1573-6911 (Online)
URI: https://irihs.ihs.ac.at/id/eprint/3397

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