productivity depends on their age through the build-up of labour market experience and the depreciation of human capital. We make … wisdom following an increase in longevity, depending on the corresponding change in the age-productivity profile. …

suggests a negative effect on total factor productivity. Using newly collected longitudinal data on pensioners, we quantify … pensioner-worker ratio decreases factor productivity by 5-6%. The effect is stronger when production is labor intensive and … automation potential is low. Economic aging also impedes the creation of innovation at the technological frontier. …

workers contribute positively. We propose a theoretical model, highlighting the relationship between demographics, innovation …