The Effects of Early Retirement on Youth Unemployment: The Case of Belgium

ByPierre Pestieau, Mathieu Lefèbvre, Alain Jousten, Sergio Perelman

February 1, 2008

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

In this paper, we describe the changes of (early) retirement programs over time and study the link between trends in elderly labor force participation and youth unemployment. From a theoretical point of view, there is no convincing argument that the idea of a lump-of-labor should hold. Our empirical results comfort this finding, and indicate a very weak link, if any, between elderly retirement and activity among the young and the prime-age populations.

Subject: Aging, Labor force participation, Labor markets, Retirement, Unemployment

Keywords: labor market, minimum wage, wage, WP

Pages:
31
Volume:
2008
DOI:
https://doi.org/10.5089/9781451868920.001
Issue:
030
Series:
Working Paper No. 2008/030
Stock No:
WPIEA2008030
ISBN:
9781451868920
ISSN:
1018-5941

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