Reference : Unemployment and retirement in a model with age-specific heterogeneity
E-prints/Working papers : Already available on another site
Business & economic sciences : Economic systems & public economics
Unemployment and retirement in a model with age-specific heterogeneity
Lefebvre, Mathieu mailto [Université de Liège - ULg > HEC-Ecole de gestion de l'ULg : UER > Economie publique appliquée >]
CREPP working paper n°200908
[en] This paper presents a model where young and old workers compete for one type of jobs in the presence of retirement opportunity. Within this framework, we show that increased retirement opportunities (such as early retirement) has most of the time a depressing impact on the unemployment rate. Indeed the number of vacancies posted by firms is influenced by the
probability that an old worker is going into retirement. We show that the degree to which younger workers are influenced by retirement of older workers depends on the relative productivity of young and older workers. It is only when older workers are much more productive than young workers that retirement may benefi t to unemployment.
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