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Economia Politica

, Volume 35, Issue 1, pp 163–182 | Cite as

Ageing workforce and productivity: the unintended effects of retirement regulation in Italy

  • Roberto Gabriele
  • Enrico Tundis
  • Enrico Zaninotto
Article

Abstract

Making use of the quasi-natural experimental setting provided by the unexpected and sudden change in Italian retirement legislation at the end of 2011 (Fornero law), this article estimates the effect on productivity of a reduction of sorting mechanisms among older workers. The estimation uses provincial-level data. The increase of retirement age and restrictions on early retirement plans locked older employees into the workplace with a negative impact on productivity. Assessing the sorting effect contributes to the age-productivity debate, isolating more precisely the average effect of ageing on productivity.

Keywords

Ageing workforce Labour productivity Pension reforms Quasi-natural experiments 

JEL Classification

C33 H55 J26 O47 

Notes

Acknowledgements

The research has been supported by a joint project of the University of Trento and the Provincia Autonoma di Trento.

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Copyright information

© Springer International Publishing AG 2017

Authors and Affiliations

  • Roberto Gabriele
    • 1
  • Enrico Tundis
    • 1
    • 2
  • Enrico Zaninotto
    • 1
  1. 1.Department of Economics and ManagementUniversity of TrentoTrentoItaly
  2. 2.Istituto di Statistica della Provincia Autonoma di Trento (ISPAT)TrentoItaly

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