The rise of age-friendly jobs

Acemoğlu, Daron; Søndergaard, Mühlbach, Nicolaj; Scott, Andrew

doi:10.1016/j.jeoa.2022.100416

Cited by 13 publications

(4 citation statements)

References 34 publications

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“…Hence, the consequences of population aging for economic growth will likely be less severe than demographic predictions of cohort structure suggest. Although migration and technological progress can reduce the demographic drag by cushioning labor shortages, automating physically demanding tasks, and creating agefriendly jobs Restrepo 2017, 2022;Acemoglu et al 2022), they will be insufficient to counteract the demographic drag alone. In this context, our findings indicate substantial gains for in educational attainment, including demographic shifts.…”

Section: Discussionmentioning

confidence: 99%

Population Aging and Economic Growth: From Demographic Dividend to Demographic Drag?

Kotschy,

Bloom

2023

SSRN Journal

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Section: Discussionmentioning

confidence: 99%

Population Aging and Economic Growth: From Demographic Dividend to Demographic Drag?

Kotschy,

Bloom

2023

SSRN Journal

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“…Thanks to the latest technological developments, jobs that do not call for physical or mental skills for which older workers are ill-suited now account for an increasingly large share of total employment (Acemoglu, Søndergaard Mühlbach and Scott, 2022). However, most of these positions are not being taken by older workers, whether for reasons of demand (e.g.…”

Section: Other Institutional Aspects Of the Labour Marketmentioning

confidence: 99%

Annual Report 2023

2024

Annual Report

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Recent macroeconomic developmentsDespite the restrictive stance of monetary policy and the high level of geopolitical uncertainty, in 2023 the world economy grew more than expected. This resilience, which varied across geographical areas, was partly underpinned by strong employment in most economies and, in some regions, fiscal policy support.Mention should also be made of disinflation, which was mainly driven by the fall in energy commodity prices, the fading of the supply shocks observed in recent years and monetary policy tightening. Against this background, central banks in emerging economies started to ease their restrictive monetary policy stance, while their counterparts in the main advanced economies paused their interest rate hiking cycles. However, euro area economic activity was observably weak, with the German economy notably sluggish and even contracting slightly. Inflation slowed more than expected and has fallen by 8.2 percentage points (pp) since October 2022 (2.8 pp since March 2023 in the case of core inflation), as the monetary policy of the European Central Bank (ECB) -which set the deposit facility rate at 4% in September -continued to be transmitted forcefully to financing conditions. Amid monetary tightening, weak euro area growth and high uncertainty, the Spanish economy stood out as it recorded growth (2.5%) significantly above the euro area average (0.4%) and initial expectations. As a result, at end-2023 GDP was around 3% higher than its pre-pandemic level. However, GDP per capita in Spain had only risen by 0.3% since end-2019 (against a background of high immigration flows over the last two years), in contrast to the euro area where it stood 2% above its pre-pandemic level.GDP growth was mainly driven by buoyancy in household spending (underpinned by strong job creation amid sliding productivity), government consumption and external demand, while business investment proved considerably sluggish. The high growth rates of tourism-related services explained around one-half of growth in 2023.Meanwhile, the private sector has continued to deleverage, with its debt now down 94 pp of GDP from the peak of 2010. In addition, Spain's current account surplus increased and its negative net international investment position decreased by 7 pp, to 52.8% of GDP, 45 pp below the all-time high recorded in 2014. Meanwhile, the budget deficit and government debt as a percentage of GDP also fell, but they nevertheless remain at high levels.11 Annual Report 2023 -Banco de España FOREWORD BY THE GOVERNOR 11The disinflation process, which began in 2022 Q3, continued in 2023, driven mainly by lower energy prices, while food and core inflation slowed more gradually. In addition, the slowdown in unit profits cushioned the impact of the growth of compensation per employee. The outlook for the coming yearsAgainst a backdrop of high geopolitical uncertainty, global economic growth is expected to stabilise at around 3.2% over the coming years, significantly below that observed over the last two decades (3.8%). Some ...

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“…A number of studies (Maestas et al (2018), Ameriks et al ( 2021)) find that older workers value certain occupational characteristics -such as flexible work, greater autonomy, less physical demands -more than other age groups. Using these findings and O*NET data and NLP methods Acemoglu, Mühlbach and Scott (2022) create an occupational index of age-friendliness and examine its role in supporting the growth in older employment. They find that there has been an increase in the age-friendliness of threequarters of occupations and that between 1990 and 2020 there was an increase of 49 million in the number of above average age-friendly jobs.…”

Section: Older Workers and The Labour Marketmentioning

confidence: 99%