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Health and longevity have increased substantially over the last 50 years, yet the labor force participation of older men has declined in most developed countries. We use mortality as a measure of health to assess the capacity to work at older ages in 12 OECD countries. For a given level of...
Persistent link: https://www.econbiz.de/10013090626
Persistent link: https://www.econbiz.de/10002127738
Recreation prices and hours worked have both fallen over the last century. We construct a macroeconomic model with general preferences that allows for trending recreation prices, wages, and work hours along a balanced-growth path. Estimating the model using aggregate data from OECD countries, we...
Persistent link: https://www.econbiz.de/10013305772
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Demand for less skilled workers decreased dramatically in the US and in other developed countries over the past two decades. We argue that pervasive skill-biased technological change rather than increased trade with the developing world is the principal culprit. The pervasiveness of this...
Persistent link: https://www.econbiz.de/10013229065
Persistent link: https://www.econbiz.de/10003590765
The share of the population aged 60 and over is projected to increase in nearly every country in the world during 2005-2050. Population ageing will tend to lower both labor-force participation and savings rates, thereby raising concerns about a future slowing of economic growth. Our calculations...
Persistent link: https://www.econbiz.de/10013131060
There is growing concern about a decline in the total fertility rate worldwide, but nowhere is the concern greater than in OECD countries, some of which already face the prospect of population decline as well. While the trend is largely the result of structural economic and social changes, our...
Persistent link: https://www.econbiz.de/10012760413
consumption, from higher wages associated with population aging. Older, asset-rich households tend to lose, because of the …
Persistent link: https://www.econbiz.de/10012760714
This paper analyzes how markets for old-age care respond to the aging of populations. We consider how the biological … demand for and supply of care. We argue that aging many times may lower the demand for market care by increasing the supply … of family-provided care, which substitutes for market care. By providing healthy spouses, aging may increase the supply …
Persistent link: https://www.econbiz.de/10013249687