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Early Retirement and Employment of the Young

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Author Info

  • Adrian Kalwij
  • Arie Kapteyn

    ()

  • Klaas de Vos

Abstract

Policy makers have often argued that an additional benefit of facilitating early retirement is that it creates employment for the young. This may happen if older and younger workers are substitutes. Nowadays policy makers' goals are to discourage early retirement to counter the economic consequences of an aging population and, interestingly, the consequences for youth employment appear to play no role in this. This paper studies the nexus between employment of older and younger workers in more depth, if only to put any concerns for adverse effects of later retirement to rest. To empirically investigate this issue the authors estimate a dynamic model of employment of the young, prime age and old people using panel data of 22 OECD countries over the time period 1960-2004. Their empirical analysis does not support the hypothesis that employment of the young and old are substitutes and finds some minor complementarities. This suggests that discouraging early retirement will have no adverse effect on youth employment.

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Bibliographic Info

Paper provided by RAND Corporation Publications Department in its series Working Papers with number 679.

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Length: 17 pages
Date of creation: Mar 2009
Date of revision:
Handle: RePEc:ran:wpaper:679

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  1. Encouraging early retirement does not increase youth employment
    by Economic Logician in Economic Logic on 2009-06-18 08:23:00
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Cited by:
  1. Contini, Bruno, 2010. "Youth Employment in Europe: Institutions and Social Capital Explain Better than Mainstream Economics," IZA Discussion Papers 4718, Institute for the Study of Labor (IZA).
  2. Zhang, Chuanchuan, 2012. "The relationship between elderly employment and youth employment: evidence from China," MPRA Paper 37221, University Library of Munich, Germany.
  3. Bruno Contini, 2012. "Youth employment in Europe: do institutions and social capital explain better than mainstream economics?," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 9(2), pages 247-277, August.
  4. Adriaan Kalwij & Arie Kapteyn & Klaas Vos, 2010. "Retirement of Older Workers and Employment of the Young," De Economist, Springer, vol. 158(4), pages 341-359, November.

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  1. Dob umirovljenja in Wikipedia (Croatian)
  2. Economic Logic blog

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