Titelaufnahme

Titel
Make yourselves scarce: the effect of demographic change on the relative wages and employment rates of experienced workers / Michael J. Böhm (University of Bonn and IZA), Christian Siegel (University of Kent and ROA) ; IZA Institute of Labor Economics
VerfasserBöhm, Michael ; Siegel, Christian
KörperschaftForschungsinstitut zur Zukunft der Arbeit
ErschienenBonn, Germany : IZA Institute of Labor Economics, March 2019
Ausgabe
Elektronische Ressource
Umfang1 Online-Ressource (59 Seiten) : Diagramme, Karten
SerieDiscussion paper ; no. 12243
URNurn:nbn:de:hbz:5:2-185923 
Zugriffsbeschränkung
 Das Dokument ist öffentlich zugänglich im Rahmen des deutschen Urheberrechts.
Volltexte
Make yourselves scarce: the effect of demographic change on the relative wages and employment rates of experienced workers [1.09 mb]
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Zusammenfassung (Englisch)

We argue that rising supply of experience not only reduces experienced workers relative wages but also their relative labor market participation. From a theoretical model we derive predictions which we quasi-experimentally investigate, using variation across U.S. local labor markets (LLMs) over the last decades and instrumenting experience supply by the LLMs' age structures a decade earlier. We find that aging substantially reduces experienced workers relative wages and employment rates, and also their labor market participation rates. Our results imply that the effect of demographic change on labor markets might be more severe than previously recognized, as it reaches beyond wages.