Can older workers stay productive? The role of ICT skills and training |
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Affiliation: | 1. Economics Department, Korea University, Republic of Korea, and Centre for Applied Macroeconomic Analysis (CAMA), Australian National University, Australia;2. Graduate School of International Studies, Korea University, Republic of Korea;3. Department of Economics, School of Business, Monash University Malaysia, and Centre for Applied Macroeconomic Analysis (CAMA), Australian National University, Australia |
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Abstract: | This paper quantitatively examines the effects of aging on labor productivity using individual worker data in Korea. We find that information and communications technology (ICT) skills and participation in job-related training can help older workers stay productive. The estimation results present that ICT skills, a measure incorporating an individual’s proficiency in ICT skills and their utilization in the workplace, has a positive effect on the wages of the older workers aged 50–64 with a high level of education or in a skill-intensive occupation. Job training also has a significant positive effect on the wages of older workers. These results imply that compared to younger workers, well-educated older workers can obtain greater productivity increase through ICT skill attainment and their adequate use, and job-training. The evidence suggests that a productivity decrease in line with the aging process can be mitigated by training aging workers to equip themselves with ICT skills. |
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Keywords: | Aging Education Information and communications technology Productivity Skill Training |
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