Recherche d’emploi et cycle de vie

Francois Langot

Revue d'économie politique, 2019, vol. 129, issue 5, 741-776

Abstract: This paper presents an extension of the job search model where life cycle features are taken into account. We show that policies aimed at postponing the effective retirement age increase the employment rate of older workers through more hirings. We show that these policies are more effective in increasing the employment rate of older workers than a sharp decline in unemployment benefits with the unemployment duration. However, this type of pension reform may face crowding out effects. We highlight two of them: on the one hand, more generous specific unemployment insurance for older workers, and on the other hand reductions of promotion opportunities at the end of their careers. These two phenomena are the source of employment separations before the retirement age of an unemployed person: thus, they reduce the number of older people in employment, and therefore the share of those eligible to bonuses related to the postponement of the retirement age. Classification JEL : E24, H55

Keywords: Job search theory; retirement; employment (search for similar items in EconPapers)
JEL-codes: E24 H55 (search for similar items in EconPapers)
Date: 2019
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