Heterogeneity Matters: Labour Productivity Differentiated by Age And Skills
An ageing population bears important consequences for labour markets. Policy makers and an increasing number of individual organisations as well as private firms realise that early retirement of older employees deprives companies of valuable expertise and creates a shortage of qualified employees. Thus, the trend towards early retirement policies starts being reversed. Nevertheless, the available evidence indicates that in many countries older workers continue to confront unfavourable labour market conditions compared to other age groups.