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Population ageing and labour markets

Author

Listed:
  • Anna Cristina D'Addio
  • Mark Keese
  • Edward Whitehouse
Abstract
In the face of rapid population ageing, the long-run fall in effective retirement ages in most OECD countries needs to be reversed. There are some positive signs that this is beginning to happen, but early exit from the labour force, i.e. well before official old-age pension ages, still remains a very common phenomenon in OECD countries. In this paper we first compare recent trends in the labour situation of older workers across OECD countries. This is followed by a discussion of supply-side and demand-side factors that have been driving these trends. In particular, new evidence is presented on incentives to retire that are embedded in pension systems. We conclude that recent reforms in most countries in this area are working in the direction of encouraging later retirement, although in a few countries there are still substantial incentives to stop working early. We then examine to what extent there are barriers on the demand side which may also be discouraging work at an older age such as age discrimination, seniority rules in wage setting, low training participation and employment protection rules. We conclude that countries have also begun to tackle these barriers as well. Nevertheless, while considerable pension reform has undoubtedly strengthened incentives to continue working at an older age, further action is still required on the demand side to ensure that those older workers who wish to work longer can do so. Copyright 2010, Oxford University Press.

Suggested Citation

  • Anna Cristina D'Addio & Mark Keese & Edward Whitehouse, 2010. "Population ageing and labour markets," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 26(4), pages 613-635, Winter.
    • Handle: RePEc:oup:oxford:v:26:y:2010:i:4:p:613-635
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    Cited by:

    1. Xun Zheng & Tomio Miwa, 2019. "A Comparative Analysis on Residents’ Reservation Willingness for Bus Service Based on Option Price," Sustainability, MDPI, vol. 11(1), pages 1-12, January.
    2. Mahlberg, Bernhard & Freund, Inga & Crespo Cuaresma, Jesús & Prskawetz, Alexia, 2013. "Ageing, productivity and wages in Austria," Labour Economics, Elsevier, vol. 22(C), pages 5-15.
    3. V. Vandenberghe & F. Waltenberg & M. Rigo, 2013. "Ageing and employability. Evidence from Belgian firm-level data," Journal of Productivity Analysis, Springer, vol. 40(1), pages 111-136, August.
    4. Garloff, Alfred & Wapler, Rüdiger, 2016. "Labour shortages and replacement demand in Germany : the (non)-consequences of demographic change," IAB-Discussion Paper 201605, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany].
    5. Iñigo Calvo-Sotomayor & Ekhi Atutxa & Ricardo Aguado, 2020. "Who Is Afraid of Population Aging? Myths, Challenges and an Open Question from the Civil Economy Perspective," IJERPH, MDPI, vol. 17(15), pages 1-17, July.
    6. Fleck, Robert K. & Hanssen, F. Andrew, 2016. "Persistence and change in age-specific gender gaps: Hollywood actors from the silent era onward," International Review of Law and Economics, Elsevier, vol. 48(C), pages 36-49.
    7. Kristin Suorsa & Ville-Mikko Mattila & Tuija Leskinen & Olli J. Heinonen & Jaana Pentti & Jussi Vahtera & Sari Stenholm, 2022. "Work ability and physical fitness among aging workers: the Finnish Retirement and Aging Study," European Journal of Ageing, Springer, vol. 19(4), pages 1301-1310, December.
    8. Michael Christl & Dénes Kucsera, 2019. "Actuarial Neutrality and Financial Incentives for Early Retirement in the Austrian Pension System," DANUBE: Law and Economics Review, European Association Comenius - EACO, issue 1, pages 1-22, March.
    9. Anne Sonnet & Hilde Olsen & Thomas Manfredi, 2014. "Towards More Inclusive Ageing and Employment Policies: The Lessons from France, The Netherlands, Norway and Switzerland," De Economist, Springer, vol. 162(4), pages 315-339, December.
    10. Hui-Chuan Hsu, 2018. "Age Differences in Work Stress, Exhaustion, Well-Being, and Related Factors From an Ecological Perspective," IJERPH, MDPI, vol. 16(1), pages 1-15, December.
    11. Huang, Yi-Hou & Liang, Woan-lih & Truong, Quang-Thai & Wang, Yanzhi, 2022. "No new tricks for old dogs? Old directors and innovation performance," Technological Forecasting and Social Change, Elsevier, vol. 179(C).
    12. Giuseppe Croce & Andrea Ricci & Giuliana Tesauro, 2019. "Pensions reforms, workforce ageing and firm-provided welfare," Applied Economics, Taylor & Francis Journals, vol. 51(32), pages 3480-3497, July.
    13. Julia Włodarczyk & Indranarain Ramlall & Jan Acedański, 2020. "Macroeconomic Effects of an Ageing Population in Mauritius," South African Journal of Economics, Economic Society of South Africa, vol. 88(4), pages 551-574, December.
    14. Zwick, Thomas, 2011. "Why training older employees is less effective," ZEW Discussion Papers 11-046, ZEW - Leibniz Centre for European Economic Research.
    15. Garloff, Alfred & Wapler, Rüdiger, 2016. "Labour Shortages and Replacement Demand in Germany. The (Non-)Consequences of Demographic Change," VfS Annual Conference 2016 (Augsburg): Demographic Change 145497, Verein für Socialpolitik / German Economic Association.
    16. Egidio Riva & Mario Lucchini & Carlotta Piazzoni, 2022. "The effect of job quality on quality of life and wellbeing in later career stages: A multilevel and longitudinal analysis on older workers in Europe," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 17(4), pages 1993-2015, August.
    17. Harris, M.N. & Zhao, X. & Zucchelli, E., 2016. "The dynamics of health and labour market transitions at older ages: evidence from a multi-state model," Health, Econometrics and Data Group (HEDG) Working Papers 16/30, HEDG, c/o Department of Economics, University of York.

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