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Human Capital and the Older Worker The need for solid indicators Peter Ester

Human Capital and the Older Worker The need for solid indicators Peter Ester OSA - Institute for Labour Studies Tilburg University, Netherlands Presentation at the Second OECD World Forum “Statistics, Knowledge and Policy” Istanbul, Turkey, 27-30 June, 2007.

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Human Capital and the Older Worker The need for solid indicators Peter Ester

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  1. Human Capital and the Older WorkerThe need for solid indicators Peter Ester OSA - Institute for Labour StudiesTilburg University, Netherlands Presentation at the Second OECD World Forum “Statistics, Knowledge and Policy”Istanbul, Turkey, 27-30 June, 2007

  2. Three challenges for OECD economies • ageing & declining workforce • acceleration of globalization • swift move towards knowledge economy

  3. Solutions to challenges? • immigration scenario: little enthusiasm • most popular scenario: keeping older employees longer in the workforce • anti-early retirement policies • but: longer working is NOT enough: we need MORE productive & flexible older workers • maintain and secure older workers´human capital

  4. Shifting age productivity The Netherlands: 1989-2001

  5. Shifting age productivity The Netherlands: 1989-2001 • productivity peak has shifted to higher cohort ages by about 10 years • implication: generations differ in productivity • more recent generations are more productive • need for comparative OECD indicators of human capital by age and generation

  6. Training & work • Heckman (2000) • “Skills beget skills”  early investments promote later investments in human capital • Schils & Fouarge (2007) • training reduces early retirement •  7%-points increase of labour force participation of 50-64 year old • Self-reinforcing effect:training  employment  training  …

  7. Work experience & informal learning • Arrow (1962) • - learning by doing important determinant of productivity growth • Borghans, Golsteyn & De Grip (2006) • informal learning: 96% of total learning on-the-job • 1 year of work=1/2 year of formal education • at age 60: still 25% of working time • propose indicators for informal learning and skill acquisition

  8. Conclusions • OECD economies depend on older workers • but: competitive in terms of human capital, employability & productivity • major concern for OECD countries • need for solid OECD trend indicators on human capital of older workers • comparative indicators of human capital by age groups and by generation • comparative indicators on informal learning and skills acquisition • OECD economies need to invest in older workers • human capital of older workers: OECD’s next frontier

  9. THANK YOU

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