The aggregate implications of changes in the labour force composition

Alessandro Mennuni

European Economic Review, 2019, vol. 116, issue C, 83-106

Abstract: Labour composition by gender, age, and education has undergone dramatic changes over the last half century in the United States. Furthermore, the volatility of total market hours differs systematically between genders, age, and education groups. I develop a large scale business cycle model where these demographic patterns and their transitional dynamics are taken into account and find that demographic change accounts for 30% of the observed changes in aggregate volatility over this period of time. Additionally, these demographic changes are responsible for a significant fraction of the GDP growth observed in the considered period of time.

Keywords: Demographic transition; Business cycle; GDP growth (search for similar items in EconPapers)
JEL-codes: E32 J11 J22 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0014292119300479
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:eecrev:v:116:y:2019:i:c:p:83-106

DOI: 10.1016/j.euroecorev.2019.03.007

Access Statistics for this article

European Economic Review is currently edited by T.S. Eicher, A. Imrohoroglu, E. Leeper, J. Oechssler and M. Pesendorfer

More articles in European Economic Review from Elsevier
Bibliographic data for series maintained by Catherine Liu ().