Aging Workforce, Productivity, and Wages in Japan

IF 2.7 2区 经济学 Q2 INDUSTRIAL RELATIONS & LABOR
Mingyu Jiang, Sachiko Kazekami, Hiroki Yasuda, Kazufumi Yugami
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引用次数: 1

Abstract

We use a panel data set of Japanese firms from 2005 to 2019 to examine how a firm’s employee age structure affects its productivity and wages. The pooled ordinary-least-squares (OLS) results indicate a negative relationship between the proportion of older employees and labor productivity. However, the effects disappear after applying a fixed effects (FE) model and the generalized method of moments to consider the unobserved heterogeneity among firms. Moreover, the proportion of older employees does not significantly affect firms’ wages. We further examine firm heterogeneity as a factor that contributes to the difference between the pooled OLS and FE estimates. The results suggest that differences in corporate stakeholder characteristics and corporate governance, such as the presence of labor unions and proportion of foreign ownership, may be related to the ratio of older workers and corporate performance.
日本的劳动力老龄化、生产力和工资
我们使用2005年至2019年日本公司的面板数据集来研究公司员工年龄结构如何影响其生产率和工资。汇总的普通最小二乘(OLS)结果表明,老年员工比例与劳动生产率之间存在负相关关系。然而,采用固定效应(FE)模型和广义矩量法考虑企业间未观察到的异质性后,这种效应消失了。此外,老年员工的比例对公司的工资没有显著影响。我们进一步研究了企业异质性作为导致汇总OLS和FE估计之间差异的因素。研究结果表明,公司利益相关者特征和公司治理(如工会存在和外资持股比例)的差异可能与老年员工比例和公司绩效有关。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
7.20
自引率
21.60%
发文量
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