The Baby Boom's Legacy: Relative Wages in the 21st Century
This paper assesses the impact of the post WWII baby boom on relative wages, when this baby boom cohort becomes the oldest segment of the workforce. Time series data are used to estimate a model of the demand for workers in eight age/sex groupings. Using these estimates, we simulate relative wages in the year 2020 assuming the age/sex composition of the workforce behaves according to projections. The results are used to examine the baby boom's potential impact on wages of older, prime-age, and teenage workers, as well as the anticipated wage gap between males and females.
|Date of creation:||Jan 1988|
|Date of revision:|
|Publication status:||published as Levine, Phillip B., and Olivia S. Mitchell, "The Baby Boom's Legacy: Relative Wages in the 21st Century," American Economic Review, Vol. 78 , pp. 66-9, May 1988.|
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- Richard B. Freeman, 1979.
"The Effect of Demographic Factors on Age-Earnings Profiles,"
Journal of Human Resources,
University of Wisconsin Press, vol. 14(3), pages 289-318.
- Richard B. Freeman, 1979. "The Effect of Demographic Factors on Age-Earnings Profiles," NBER Working Papers 0316, National Bureau of Economic Research, Inc.
- Welch, Finis, 1979. "Effects of Cohort Size on Earnings: The Baby Boom Babies' Financial Bust," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages S65-97, October.
- Daniel S. Hamermesh & James Grant, 1979. "Econometric Studies of Labor-Labor Substitution and Their Implications for Policy," Journal of Human Resources, University of Wisconsin Press, vol. 14(4), pages 543-562.
- Finis Welch, 1979. "Effects of Cohort Size on Earnings: The Baby Boom Babies' Financial Bust," UCLA Economics Working Papers 146, UCLA Department of Economics.
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