Assessing the impact of age management tools on the long-term sustainable unemployment rate (NAIRU) countries with recommendations for healthy and active population aging in the Czech Republic and selected Eurozone countries

Emilie Jasová

University of Finance and Administration, 3. A. Masek, Research and Consultant, Age Management Expert for Population Aging, strategies of the impact of age management measures on the economic and social situation of the Czech Republic.

ABSTRACT

The article uses the concept of age management to map the impact and the effect of age management on the sustainability of economic and social policies in the Czech Republic and selected Eurozone countries. The introduction of age management represents a change in the understanding of health and work ability in the context of an aging population. It is necessary to emphasize the importance of preventive measures in the labor market, which can significantly influence the employment of older people.

Keywords: age management, unemployment, NAIRU, sustainability, labor market, aging population

1. Introduction

According to the Action Plan for the Implementation of the Strategic Framework for Preparing for an Aging Society 2023-2025 (Ministry of Labour and Social Affairs, 2023), Czech society is gradually changing as fewer children are born and life expectancy is increasing. Thus, the proportion of older people in the population is increasing and society is aging.

Policies to prepare for aging need to be cross-cutting, requiring interdisciplinary, inter-sectoral and inter-ministerial cooperation to find the best solutions. In the case of healthcare, the labor market and social policy, it is crucial to effectively address the needs of an aging population. Cooperation between the state and private actors is essential. Employers should, for example, promote a culture of prevention and age management. This is important for their health and productivity, as well as for the sustainability of the labor market.

2. Principles of age management abroad and in the Czech Republic, issues and measures arising from strategic materials for healthy and active aging

2.1 THE PRINCIPLE OF AGE MANAGEMENT THROUGH THE CONCEPT OF WORKING ABILITY ABROAD AND ITS ADAPTATION AFTER THE COVID 19 PANDEMIC

Gould et al. (2008) state that with changes in the structure and size of the population, the importance of work ability will increase. Promoting the working ability of the working age population allows people to maintain health and functioning capacity longer into retirement, thereby affecting the quality of life of the retired population.

According to the Balance Model (Rohmert and Rutenfranz, 1983) work stress influences the relationship between health and productivity. The working ability of older workers is supported by organizations (e.g., security, fairness), and the immediate environment and social factors strengthen the macro working ability.

2.2 THE IMPACT OF AGE MANAGEMENT ON THE LABOR MARKET

From a theoretical-empirical perspective on the importance of age management for healthy and active aging of the population, it can be concluded for our general recommendations that working ability is a prerequisite for maintaining the quality of life, long-term employability of older workers and reducing the costs of the health system. A blended relationship between work requirements and individual abilities, on the one hand, reduces the risk of health problems. Health management should address the specific needs and risks of women in the labor market, support desirable changes in employee behavior and tools to maintain health and work ability.

3. Fundamental conclusions on the history of the formulation of the trade-off of unemployment with inflation and its importance for the multidisciplinary creation of targeted age management interventions

3.1 HISTORY OF THE NAIRU CONCEPT, ESTIMATION METHOD AND THEIR IMPORTANCE FOR A MULTIDISCIPLINARY APPROACH TO AGE MANAGEMENT

Jasová (2016) reports that the research on the trade-off between inflation and unemployment in the Czech economy was conducted by Flek (the extended the NAIRU and PC estimates to the conditions of a small open economy and a forward-looking inflation targeting regime). He also maps examples of the application of the NAIRU concept to the meso-level data (e.g., health; Neumark). Jasová (2016) emphasizes that the NAIRU is a crucial tool for policymakers and users of applied economic models.

3.2 APPLICATION OF THE NAIRU AND PC CONCEPTS TO DATA FROM THE CZECH REPUBLIC AND ABROAD AND ITS USE IN THE CREATION OF TARGETED AGE MANAGEMENT INTERVENTIONS

Jasová (2016) reports that the research on the trade-off between inflation and unemployment in the Czech economy was conducted by Flek (the extended the NAIRU and PC estimates to the conditions of a small open economy and a forward-looking inflation targeting regime). He also maps examples of the application of the NAIRU concept to the meso-level data (e.g., health; Neumark). Jasová (2016) emphasizes that the NAIRU is a crucial tool for policymakers and users of applied economic models.

4. The impact of selected age management indicators on NAIRU and the aging population in the Czech Republic and selected Eurozone countries

The explained variables used to investigate the impact (nature and intensity) of age management tools (for firms and individuals) on healthy, active aging in the Czech Republic and in selected Eurozone countries (especially with regard to the resilience of the pension system to population aging and the specific impact of the aging population) are presented in Table 1.

5. Description of data sources used and methodology of analysis

The explained variables used to investigate the impact (nature and intensity) of age management tools (for firms and individuals) on healthy, active aging in the Czech Republic and in selected Eurozone countries (especially with regard to the resilience of the pension system to population aging and the specific impact of the aging population) are presented in Table 1.

6. Results of empirical testing of the impact of selected age management measures on NAIRU in the Czech Republic and selected Eurozone countries

The impact of selected age management indicators on healthy, active aging and the aging population in the Czech Republic and selected Eurozone countries is presented in Table 2.

7. Conclusion

The desirable results of the impact of age management tools on the labor market and lifestyle. The desirable results of health and active population aging should be supported by a labor market policy to strengthen social dialogue, as it would stabilize working conditions. Health policy should focus on health insurance and work benefits, as they promote well-being in the workplace and reduce worker sickness. The very small desirable impact of the number of occupational accidents indicates only a limited effect of working conditions on employability. The labor market policy should foster, for example, inclusive labor standards and checks on their fulfillment at the workplace. Health policy could spur improvements to labor market policies to enhance the employability of older workers.

Appendix

1) Ministry of Finance and Administration, a.s. for the evaluation of the concluded Agreement on work activity on the subchapter evaluating the collection of foreign and domestic literature and work on the elaboration of the text of the theoretical part.

2) Age Management, z.s. on the Association of Non-Profit Organizations of the South Moravian Region, z.s. for all outputs/conclusions including

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