| Publisher | Austrian Institute of Economic Research | ||
|---|---|---|---|
| Format | 161.4KB PDF | Date added | 04 Feb 2005 |
| Topics | Human Capital Management | ||
| Downloads | 20 | ||
In the study presented in this paper, the authors 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 one is able to account for the future demographic trends. Apart from a baseline scenario, three alternative simulations are performed that highlight the effects of aging from different perspectives. These include purely demographic developments, increasing labour market imperfections, and higher economic growth due to a productivity shock.
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