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1Ageing and productivity: comment
Ilmakunnas et al.
Discussion of
Ageing and Productivity
Etienne Wasmer (Sc. Po. Paris)
2Ageing and productivity: comment
Really interesting piece– a general framework
– relations between age and absenteism
– age and working capacity
– age and productivity at the plant level
– Some policy implications
Introduction 1
3Ageing and productivity: comment
Summary of findings- productivity is multi-dimensional
- effect of age on absenteism is complex and not monotonic (frequency vs. duration)
- various cognitive and non-cognitive ability vary differently with age: most decline with age but some (e.g. verbal ability) increase
- overall, labor market behaviour more important than age on productivity
Introduction 2
4Ageing and productivity: comment
Why important to know? Several implications
a) for reforms of pension systems, notably the optimal age of retirement
b) but also for the design of training policies and even of education policy
(cohort effects; general vs. specific education and obsolescence rates of skills)
c) and for employability of “seniors”
Introduction 3
5Ageing and productivity: comment
In short:
implications for most aspects of labor economics
This discussion Couple of general remarks Enlight conclusions and policy Two conjectures
6Ageing and productivity: comment
First, a few missing dimensions:
Career mobility. Most of the relation between age and productivity is determined by changing occupation or even sectors. Variant of the Roy model. Verbal skills matter more at a higher level of hierarchy. Learning skills matter more at a younger age.
So occupations are a first order determinant of the age-productivity link.
7Ageing and productivity: comment
Does it matter?
When estimating a relation between age and “errors” on the assembly line, potentially an upward bias: those who commit more mistakes may be more likely to have no promotion hence to remain an assembly line worker
Literature on peer effects
8Ageing and productivity: comment
Second point: gender
– Too politically correct? Are skills and productivity depreciating faster or not depending on gender
- In most countries, female workers retirement age is lower (legal and effective). Could have been adressed
9Ageing and productivity: comment
Related point: endogeneity issue, related to the career choices and participation decisions
Most skills are maintained when they are useful and needed. Time horizon matters a lot
(this is why older persons should play Scrabble as long as they can, why their skills deteriorate fast when their spouse dies, why older heads of states often die one or two years after they resign, etc…)
10Ageing and productivity: comment
11Ageing and productivity: comment
12Ageing and productivity: comment
13Ageing and productivity: comment
Endogeneity of skill maintenance decisions
14Ageing and productivity: comment
Labor market theory of this curve
RA for FRDB
Author for FRDB
Coordinator for FRDB
Discussant for FRDB
Productivity
Wage
15Ageing and productivity: comment
A side remark: no mention of life expectancy –
a) cognitive ability and its maintenance impact on life expectancy
b) statistics easy to find, and thus possible to draw inference on the end of career of senior workers by sector, education, country, gender…
16Ageing and productivity: comment
More important
But what would really improve the work is the missing link between technology and aging
Are IT youth-friendly relative to older workers?
Can we think of IT’s that would instead raise the relative productivity of senior workers?
17Ageing and productivity: comment
Policy implications
What policy conclusions do we reach?
Do we need to subsidize firms who invest in
skills of senior workers, raising their employability
IT’s friendly to senior workers? What about education?
18Ageing and productivity: comment
“cristallized abilities” are presumably to a large extent cohort effects.
The generation before us makes no grammatical mistake and remember many poetries but cannot plug a PC and are disarmed in the “trial and error” process of the internet.
A conclusion would be that the construction of skills is as much a collective effort as an individual one.
Education
19Ageing and productivity: comment
Open issue: stress at the workplace and p.r.
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1.5
22.
53
Str
ess
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orke
rs -
all
1 1.5 2 2.5 3 3.5Employment protection (OECD 2004)
Stress vs. employment protection