Population ageing and the labour market: modelling size and age-specific effects

Katerina Lisenkova, Marcel Merette, Robert Wright

Research output: Contribution to journalArticle

20 Citations (Scopus)

Abstract

This paper presents a dynamic Overlapping Generations Computable General Equilibrium (OLG-CGE) model of Scotland. The model is used to examine the impact of population ageing on the labour market.More specifically, it is used to evaluate the effects of labour force decline and labour force ageing on keymacro-economic variables.The second effect is assumed to operate through age-specific productivity and labour force participation. In the analysis, particular attention is paid to how population ageing impinges on the government expenditure constraint. The basic structure of the model follows the Auerbach and Kotlikoff tradition. However, the model takes into consideration directly age-specific mortality. This is analogous to “building in” a cohort-componentpopulation projection structure to the model, which allows more complex and more realistic demographic scenarios
to be considered.
Original languageEnglish
Pages (from-to)981–989
Number of pages9
JournalEconomic Modelling
Volume35
Early online date4 Oct 2013
DOIs
Publication statusPublished - 2013

Keywords

  • OLG-CGE modelling
  • population ageing
  • scotland
  • labour market
  • modelling
  • size
  • age-specific effects

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