The macroeconomic impact from extending working lives

Document type
Working Paper
Author(s)
Barrell, Ray; Kirby, Simon; Orazgani, Ali
Publisher
DWP
Date of publication
1 January 2011
Series
Working paper; 95
Subject(s)
Employment
Collection
Social welfare
Material type
Reports

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This report presents findings from research, conducted by the National Institute of Economic and Social Research (NIESR) and funded by the Department for Work and Pensions. NIESR were commissioned to use their global econometric model, NiGEM, in order to model various scenarios involving extending working lives, and to quantify the macroeconomic effects therein. The core scenario is a one year increase in working life for the UK population that is gradually phased in over the period 2010-14. In addition to this, NIESR carried out a series of counterfactual analyses which modelled the loss to the economy from older people leaving the labour market early.

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