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Working Paper 12-07 - Wage and age related employers’ SSC cuts and wage subsidies in the 2007 vintage of HERMES

Author

Listed:
  • Peter Stockman

Abstract

The distinction between the young and the elderly within low and high wage earning employment in HERMES, the FPB's medium-term macroeconomic model, enables the assessment of both age and wage related labour cost reducing policies. The age structure of salaried employment in each branch of activity is embedded in a three-stage mechanism. First, aggregate demand and the relative cost of labour to capital determine salaried employment. Next, relative wages allocate employment among three major labour categories: low-paid jobs, high-paid jobs and special-employment programmes. Finally, within each labour category relative wages allocate employment between the young (aged less than fifty) and the elderly (aged fifty or more).

Suggested Citation

  • Peter Stockman, 2007. "Working Paper 12-07 - Wage and age related employers’ SSC cuts and wage subsidies in the 2007 vintage of HERMES," Working Papers 200712, Federal Planning Bureau, Belgium.
    • Handle: RePEc:fpb:wpaper:200712
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    More about this item

    JEL classification:

    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand

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