The Impact of Generation Mix in the Labor Market on Country Economies: The Case of G20 Countries

Abstract

Demographic change is a critical factor affecting countries' economic and socio-cultural structure. The change between generations deeply affects economic systems and shapes production capacity. This research examines the impact of the generational transition in the youth labor market on total factor productivity (TFP) in G20 countries. Between 1980 and 2019, the labor force participation rates and TFP data of young people aged 15-24 were evaluated with a panel regression model. The findings reveal the impact of this transition between generations on economic systems; they emphasize the role of different generations in economic dynamics. This study aims to contribute to the literature and guide the policy-making processes of G20 countries. It is expected to shed light on future policy developments by emphasizing the importance of intergenerational interaction in the labor market on the economic performance of countries.

Keywords

• Labor market
• intergenerational transition
• total factor productivity
• demographic change
• panel regression model

İşgücü Piyasasında Kuşak Karışımlarının Ülke Ekonomileri Üzerindeki Etkisi: G20 Ülkeleri Örneği

Abstract

Demografik değişim, ülkelerin ekonomik ve sosyokültürel yapısını etkileyen kritik bir faktördür. Kuşaklar arasındaki değişim, ekonomik sistemleri derinden etkileyerek üretim kapasitesini şekillendirmektedir. Bu araştırma, G20 ülkelerindeki genç işgücü piyasasındaki kuşaklar arasındaki geçişin toplam faktör verimliliği üzerindeki etkisini incelemektedir. 1980-2019 arasındaki dönemde, 15-24 yaş aralığındaki gençlerin işgücüne katılım oranları ile toplam faktör verimliliği verileri panel regresyon modeli ile değerlendirilmiştir. Bulgular, kuşaklar arasındaki bu geçişin ekonomik sistemlere etkisini ortaya koymakta; farklı kuşakların ekonomik dinamiklerdeki rolünü vurgulamaktadır. Bu çalışmanın literatüre katkı sağlaması ve G20 ülkelerinin politika oluşturma süreçlerine rehberlik etmesi amaçlanmaktadır. İşgücü piyasasındaki kuşaklar arası etkileşimin, ülkelerin ekonomik performansı üzerindeki önemini vurgulayarak, gelecekteki politika geliştirmelerine ışık tutması beklenmektedir.

Keywords

• İşgücü piyasası
• kuşaklar arası geçiş
• toplam faktör verimliliği
• demografik değişim
• panel regresyon modeli

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