Workforce ageing and productivity: An analysis by industry characteristics 6

  1. Introduction 6

  2. The drivers of workforce ageing go beyond demographic changes 9

  3. The ageing-productivity link is surrounded by considerable uncertainty 11

  4. Exploring the impact of workforce ageing on productivity using industry data 14

  5. Empirical Framework 16

  6. Baseline findings 18

  7. Policies to enhance productivity amid workforce ageing 32

  8. Conclusions 51

References 53

Annex A. Descriptives, data sources and variable definitions 60

Annex B. Building the instrumental variable: underlying assumptions 63

Annex C. Robustness checks 66

Annex D. Empirical evaluation of policies 73