Ålder och ekonomisk omvandling. Sveriges tillväxthistoria i ett demografiskt perspektiv, 1890-1995

Sammanfattning: In the 1900s the Swedish labour force underwent an ageing process, accentuated in some periods and stagnant in others. This study inquires into how, and to what extent, these demographic shifts in the labour market explain changes in average labour productivity and economic growth. Different age groups possess different types of human capital, leading to changes in individual productivity over the life-cycle. A younger labour force is assumed to be generally better educated, while an older labour force is credited with greater work experience. There are also other age-related differences in terms of human capital, among others the state of health and mobility of the labour force. In combination with changes in the underlying economic structure, which determine labour demand and the extent to which various types of human capital can be used in production, changes in the age structure bring about shifts in the effects on economic growth. This study shows the need to direct attention to the interaction between the supply of and demand for human capital in order to ascertain the age effects over time. From a long-term perspective, that spans the whole of the 1900s, empirical support is given to the notion that work experience was significant for productivity and economic growth. However, during periods of intense economic transformation, the younger labour force´s human capital (including education) compensated for its lack of work experience. Thus, there were considerable variations in the effects of lower age groups, as opposed to higher age groups, on the rate of economic growth in the 1900s.