A Cohort Based Analysis Of Labor Force Participation For Advanced Economies
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A Cohort Based Analysis Of Labor Force Participation For Advanced Economies
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Author : Francesco Grigoli
language : en
Publisher: International Monetary Fund
Release Date : 2018-05-22
A Cohort Based Analysis Of Labor Force Participation For Advanced Economies written by Francesco Grigoli and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-05-22 with Business & Economics categories.
Advanced economies are in the midst of a major demographic transition, with the number of elderly rising precipitously relative to the working-age population. Yet, despite the acceleration in demographic shifts in the past decade, advanced economies experienced markedly different trajectories in overall labor force participation rates and the workforce attachment of men and women. Using a cohort-based model of labor force participation for 17 advanced economies estimated over the 1985-2016 period, we document a significant role of common patterns of participation over the life cycle and shifts in these patterns across generations for aggregate labor supply, especially in the case of women. The entry of new cohorts of women led to upward shifts in the age participation prole, boosting aggregate participation rates. However, this process plateaued in most advanced economies, with signs of reversal in some. Using the model's results to forecast future participation trends, we project sizable declines in aggregate participation rates over the next three decades due to the aging of the population. Illustrative simulations show that implementing policies encouraging labor supply can help attenuate but may not fully offset demographic pressures.
Drivers Of Labor Force Participation In Advanced Economies Macro And Micro Evidence
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Author : Francesco Grigoli
language : en
Publisher: International Monetary Fund
Release Date : 2018-06-25
Drivers Of Labor Force Participation In Advanced Economies Macro And Micro Evidence written by Francesco Grigoli and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-25 with Business & Economics categories.
Despite signicant headwinds from population aging in most advanced economies (AEs), labor force participation rates show remarkably divergent trajectories both across countries and across dierent groups of workers. Participation increased sharply among prime-age women and, more recently, older workers, but fell among the young and prime-age men. This pa- per investigates the determinants of these trends using aggregate and individual-level data. We nd that the bulk of the dramatic increase in the labor force attachment of prime-age women and older workers in the past three decades can be explained by changes in labor mar- ket policies and institutions, structural transformation, and gains in educational attainment. Technological advances such as automation, on the other hand, weighed on the labor supply of prime-age and older workers. In light of the dramatic demographic shifts expected in the coming decades in many AEs, our ndings underscore the need to invest in education and training, reform the tax system, reduce early retirement incentives, improve the job-matching process, and help individuals combine family and work life in order to alleviate the pressures from aging on labor supply.
A Cohort Based Model Of Labor Force Participation
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Author : Bruce Fallick
language : en
Publisher:
Release Date : 2007
A Cohort Based Model Of Labor Force Participation written by Bruce Fallick and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Labor supply categories.
Drivers Of Labor Force Participation In Advanced Economies Macro And Micro Evidence
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Author : Francesco Grigoli
language : en
Publisher: International Monetary Fund
Release Date : 2018-06-25
Drivers Of Labor Force Participation In Advanced Economies Macro And Micro Evidence written by Francesco Grigoli and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-25 with Business & Economics categories.
Despite significant headwinds from population aging in most advanced economies (AEs), labor force participation rates show remarkably divergent trajectories both across countries and across different groups of workers. Participation increased sharply among prime-age women and, more recently, older workers, but fell among the young and prime-age men. This pa- per investigates the determinants of these trends using aggregate and individual-level data. We find that the bulk of the dramatic increase in the labor force attachment of prime-age women and older workers in the past three decades can be explained by changes in labor mar- ket policies and institutions, structural transformation, and gains in educational attainment. Technological advances such as automation, on the other hand, weighed on the labor supply of prime-age and older workers. In light of the dramatic demographic shifts expected in the coming decades in many AEs, our findings underscore the need to invest in education and training, reform the tax system, reduce early retirement incentives, improve the job-matching process, and help individuals combine family and work life in order to alleviate the pressures from aging on labor supply.
Aging And The Macroeconomy
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Author : National Research Council
language : en
Publisher: National Academies Press
Release Date : 2013-01-10
Aging And The Macroeconomy written by National Research Council and has been published by National Academies Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-10 with Social Science categories.
The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
Women In Labour Markets
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Author : Sara Elder
language : en
Publisher:
Release Date : 2010
Women In Labour Markets written by Sara Elder and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business & Economics categories.
Offers an analysis of 12 indicators from the ILO Key Indicators of the Labour Market database. The aim is to look for progress or lack of progress towards the goal of gender equality in the world of work and identify where and why blockages to labour market equity continue to exist. Focuses on the relationship of women to labour markets and compares employment outcomes for men and women to the best degree possible given the available labour market indicators.
Okun S Law Development And Demographics Differences In The Cyclical Sensitivities Of Unemployment Across Economy And Worker Groups
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Author : Zidong An
language : en
Publisher: International Monetary Fund
Release Date : 2021-11-12
Okun S Law Development And Demographics Differences In The Cyclical Sensitivities Of Unemployment Across Economy And Worker Groups written by Zidong An and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-11-12 with Business & Economics categories.
The negative and stable relationship between an economy’s aggregate demand conditions and overall unemployment is well-documented. We show that there is a large degree of heterogeneity in the cyclical sensitivities of unemployment across worker and economy groups. First, unemployment is more than twice as sensitive to aggregate demand in advanced as in emerging market and developing economies. Second, youth’s unemployment is twice as sensitive as that of adults’. Third, women’s unemployment is significantly less sensitive to demand than men’s in advanced economies. These findings point to the highly unequal impacts of the business cycle across worker and economy groups.
World Economic Outlook April 2018
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2018-04-17
World Economic Outlook April 2018 written by International Monetary Fund. Research Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-17 with Business & Economics categories.
This report describes the world economic outlook as of April 2018, projecting that advanced economies will continue to expand above their potential growth rates before decelerating, while growth in emerging markets in developing economies will rise before leveling off. It details global prospects and policies, including risks to the forecast, and essential determinants of long-term economic growth: labor force participation in advanced economies, the declining share of manufacturing jobs globally and in advanced economies, and the process through which innovative activity and technological knowledge spread across national borders.
Unfair Advantage
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Author : World Bank
language : en
Publisher:
Release Date : 1991
Unfair Advantage written by World Bank and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Business & Economics categories.
The Impact Of Remittances On Labor Supply The Case Of Jamaica
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Author : Namsuk Kim
language : en
Publisher: World Bank Publications
Release Date : 2007
The Impact Of Remittances On Labor Supply The Case Of Jamaica written by Namsuk Kim and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Employees categories.
Abstract: A puzzle in the recently stagnated economy of Jamaica is that high rates of unemployment have persisted even when real wages have been increasing. This paper examines aspects of the labor supply in an effort to understand why high rates of unemployment have existed with increasing real wages. This is a sign of a badly functioning labor market. The cross-sectional analysis suggests that remittances have some impact on labor supply, especially on labor market participation. The pseudo panel data analysis also confirms that remittances have a strong impact on labor participation but not on weekly working hours. Households with remittance income have a higher reservation wage and have reduced the supply of labor by moving out of the labor force.