Population Aging Reduces Labor Share for Enterprises
Aging significantly reduces the labor share for enterprises.A one percentage point increase in the proportion of elderly workers relative to young workers leads to a 0.147 percentage point decrease in the labor share for enterprises.The mechanisms behind this impact include the relative labor cost effect,the labor structure effect,and the production automation effect.The impact of aging on labor share is stronger in industries with lower financing constraints,greater reliance on young labor,and lower skill levels.However,efforts by local governments to increase income distribution adjustments can help miti-gate the impact of aging.
万方数据
维普
