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The Effects of Early Retirementon Youth Unemployment

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Author Info

  • Pierre Pestieau
  • Mathieu Lefèbvre
  • Alain Jousten
  • Sergio Perelman

Abstract

In this paper, we describe the changes of (early) retirement programs over time and study the link between trends in elderly labor force participation and youth unemployment. From a theoretical point of view, there is no convincing argument that the idea of a lump-of-labor should hold. Our empirical results comfort this finding, and indicate a very weak link, if any, between elderly retirement and activity among the young and the prime-age populations.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 08/30.

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Length: 31
Date of creation: 01 Feb 2008
Date of revision:
Handle: RePEc:imf:imfwpa:08/30

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Keywords: Early retirement; Unemployment; Labor supply; retirement; employment; labor force participation; labor force; pension; unemployed; youth unemployment; employment rate; retirement age; employment protection; unemployment benefits; job search; pension system; replacement rate; rate of unemployment; labor force data; age of retirement; youth employment; labor force participation rate; unemployment compensation; normal retirement age; unemployment benefit; unemployment insurance; unemployment rates; benefit levels; retirement incentives; employment rates; pension administration; retirement system; retirement ages; pensions; net wage; national accounts; low labor force participation; unemployment rate; high employment; retirement systems; unemployment policies; public pension; unemployment experiences; contribution rates; retirement date; employment service; public employment; unemployment compensations; public pension system; flexible retirement age; employment opportunities; youth unemployment rate; retirement decision; normal retirement ages; labor force activity; early retirement program; individual retirement; unemployed person; public employment service; pension benefit; high youth unemployment; employment outcomes; replacement rates; retirement programs; labor force survey; pension age; unemployment insurance benefit; individual pension accounts; pension schemes; unemployed receiving; unemployment beneficiaries; retirement program; retirement benefits; pension accounts; earnings history; pension systems;

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References

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  1. Jonathan Gruber & David A. Wise, 1999. "Social Security and Retirement around the World," NBER Books, National Bureau of Economic Research, Inc, number grub99-1, June.
  2. Saint-Paul, Gilles, 2004. "Why are European Countries Diverging in their Unemployment Experience?," IDEI Working Papers 269, Institut d'Économie Industrielle (IDEI), Toulouse.
  3. Sveinbjörn Blöndal & Stefano Scarpetta, 1999. "The Retirement Decision in OECD Countries," OECD Economics Department Working Papers 202, OECD Publishing.
  4. Dellis, Arnaud & Jousten, Alain & Perelman, Sergio, 2001. "Micro-Modelling of Retirement in Belgium," CEPR Discussion Papers 2795, C.E.P.R. Discussion Papers.
    • Arnaud Dellis & Raphaël Desmet & Alain Jousten & Sergio Perelman, 2004. "Micro-Modeling of Retirement in Belgium," NBER Chapters, in: Social Security Programs and Retirement around the World: Micro-Estimation, pages 41-98 National Bureau of Economic Research, Inc.
  5. Pierre Pestieau & Jean-Philippe Stijns, 1997. "Social Security and Retirement in Belgium," NBER Working Papers 6169, National Bureau of Economic Research, Inc.
  6. Layard, Richard & Nickell, Stephen & Jackman, Richard, 2005. "Unemployment: Macroeconomic Performance and the Labour Market," OUP Catalogue, Oxford University Press, number 9780199279173, September.
  7. Blanchard, Olivier & Wolfers, Justin, 2000. "The Role of Shocks and Institutions in the Rise of European Unemployment: The Aggregate Evidence," Economic Journal, Royal Economic Society, vol. 110(462), pages C1-33, March.
  8. Michele Boldrin & Juan J. Dolado & Juan F. Jimeno & Franco Peracchi, 1999. "The future of pensions in Europe," Economic Policy, CEPR & CES & MSH, vol. 14(29), pages 287-320, October.
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Citations

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Cited by:
  1. Vandenberghe, V., 2013. "Are firms willing to employ a greying and feminizing workforce?," Labour Economics, Elsevier, vol. 22(C), pages 30-46.
  2. Michella Bia & Pierre-Jean Messe & Roberto Leombruni, 2010. "Young-in Old-out: a new evaluation," Working Papers halshs-00812056, HAL.
  3. V. Vandenberghe, 2011. "Boosting the Employment Rate of Older Men and Women," De Economist, Springer, vol. 159(2), pages 159-191, June.
  4. V. Vandenberghe & F. Waltenberg & M. Rigo, 2013. "Ageing and employability. Evidence from Belgian firm-level data," Journal of Productivity Analysis, Springer, vol. 40(1), pages 111-136, August.

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