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Title: The US productivity slowdown, the baby boom, and management quality

Citation Type: Journal Article

Publication Year: 2011

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Abstract: This paper examines the relationship between the entry of the baby boom into the workforce and the productivity slowdown. Lucas (Bell J Econ 9(2):508523, 1978) shows how management quality plays a role in determining output. The baby booms entry into the workforce resulted in more managers from smaller, pre-baby boom cohorts. These marginal managers were necessarily of lower quality, leading to a drop in total factor productivity. As the boomers aged, this effect was reversed. A calibrated model of managers, workers, and firms suggests that the management effects of the baby boom may explain roughly 20% of the observed productivity slowdown and resurgence.

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Authors: Feyrer, James

Periodical (Full): Journal of Population Economics

Issue: 1

Volume: 24

Pages: 267-284

Data Collections: IPUMS USA

Topics: Labor Force and Occupational Structure

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