Make Yourselves Scarce: The Effect of Demographic Change on the Relative Wages and Employment Rates of Experienced Workers

Michael J. Böhm, Christian Siegel
{"title":"Make Yourselves Scarce: The Effect of Demographic Change on the Relative Wages and Employment Rates of Experienced Workers","authors":"Michael J. Böhm, Christian Siegel","doi":"10.26481/UMAGSB.2019008","DOIUrl":null,"url":null,"abstract":"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 thatthe effect of demographic change on labor markets might be more severe than previously recognized, as it reaches beyond wages.","PeriodicalId":403294,"journal":{"name":"CEPR: Macroeconomics & Growth (Topic)","volume":"243 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2019-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"4","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"CEPR: Macroeconomics & Growth (Topic)","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.26481/UMAGSB.2019008","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 4

Abstract

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 thatthe effect of demographic change on labor markets might be more severe than previously recognized, as it reaches beyond wages.
让自己变得稀缺:人口变化对有经验工人的相对工资和就业率的影响
我们认为,经验供给的增加不仅降低了有经验工人的相对工资,而且降低了他们的相对劳动力市场参与度。从一个理论模型中,我们得出了我们准实验研究的预测,利用过去几十年美国当地劳动力市场(llm)的变化,并利用llm十年前的年龄结构提供的经验。我们发现,老龄化大大降低了有经验的工人的相对工资和就业率,以及他们的劳动力市场参与率。我们的研究结果表明,人口结构变化对劳动力市场的影响可能比之前认识到的更为严重,因为它超出了工资范畴。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 求助全文
来源期刊
自引率
0.00%
发文量
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:604180095
Book学术官方微信