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Workforce Aging, Pension Reforms, and Firm Outcomes / Francesca Carta, Francesco D'Amuri, Till M. von Wachter.
- Format:
- Book
- Author/Creator:
- Carta, Francesca.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w28407.
- NBER working paper series no. w28407
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2021.
- Summary:
- This paper quantifies the effect of a policy-induced sharp increase in retirement ages on input mix and economic outcomes of firms using Italian matched worker-firm data. Data on lifetime pension contributions are used to calculate the expected additional number of older workers employed by each firm due to the reform. Resulting instrumental variable estimates show an increase in older workers leads to a precisely estimated rise in employment of younger workers, value added, and total labor costs at constant labor productivity and unit labor costs. The findings suggest rising institutional retirement ages can help firms to retain valuable older employees.
- Notes:
- Print version record
- January 2021.
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