(UM05-04) - Technological Progress and Worker Productivity at Different Ages
John P. Laitner and Dmitriy Stolyarov
This project will use 1950–90 Census data to test whether the effects of technological progress are specific to young workers or general to workers of all ages. Which model holds is very important. If the specific model is more valid, then aging societies will not be able to benefit as quickly from new technologies and, somewhat surprisingly, earnings inequality will tend to rise during periods of slow technological change. If the general model is correct, rapid technological progress may tend to cause a fall in the national saving rate, but perhaps an increase in the average retirement age.