The composition of the working-age population can influence aggregate employment and average productivity because both employment rates and productivity levels vary across population groups. This paper assesses the quantitative importance of the working-age population broken down by age, gender...

This paper formalises the analysis of the employment-productivity trade-off by extending the framework developed by Gordon (1997) to account for labour heterogeneity. The extent of the trade-off is determined by the extent of the adjustment of capital to effective labour and by the changes in...