Releasing jobs for the young? Early retirement and youth unemployment in the United Kingdom
This paper tries to assess whether or not we have any empirical evidence of links between early retirement and youth unemployment. Most economists would today dismiss the idea immediately as another version of the naïve 'lump-of-labor fallacy'. In its most basic form, this proposition holds that there is a fixed supply of jobs and that any reduction in labor supply will reduce unemployment by offering jobs to those who are looking for ones. Taken to the extreme, this view would support that the idea that a high level of employment of one group of individuals can only be at the expense of another group: if for instance were the population of a country to increase, younger individuals would be unemployed as older individuals would not 'release' enough jobs for the new entrants. The absurdity of this view in the long term is simply seen by considering the fact that the size of a country does not bear any relation to the share of population unemployed.
|Date of creation:||05 Mar 2010|
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- Casey B. Mulligan & Xavier Sala-i-Martin, 1999.
"Gerontocracy, retirement, and social security,"
Economics Working Papers
383, Department of Economics and Business, Universitat Pompeu Fabra.
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- Casey B Mulligan, 1999. "Gerontocracy, Retirement, and Social Security," University of Chicago - George G. Stigler Center for Study of Economy and State 154, Chicago - Center for Study of Economy and State.
- Michael Anyadike-Danes & Duncan McVicar, 2008. "Has the Boom in Incapacity Benefit Claimant Numbers Passed Its Peak?," Fiscal Studies, Institute for Fiscal Studies, vol. 29(4), pages 415-434, December.
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- Jonathan Gruber & David A. Wise, 2002. "Social Security Programs and Retirement Around the World: Micro Estimation," NBER Working Papers 9407, National Bureau of Economic Research, Inc.
- Jonathan Gruber & David A. Wise, 2007. "Introduction to "Social Security Programs and Retirement around the World: Fiscal Implications of Reform"," NBER Chapters,in: Social Security Programs and Retirement around the World: Fiscal Implications of Reform, pages 1-42 National Bureau of Economic Research, Inc.
- Jonathan Gruber & David A. Wise, 2007. "Social Security Programs and Retirement around the World: Fiscal Implications of Reform," NBER Books, National Bureau of Economic Research, Inc, number grub07-1, 01.
- Tom Walker, 2007. "Why economists dislike a lump of labor," Review of Social Economy, Taylor & Francis Journals, vol. 65(3), pages 279-291. Full references (including those not matched with items on IDEAS)
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