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Too old to work, too young to retire?

Andrea Ichino, Guido Schwerdt (), Rudolf Winter-Ebmer () and Josef Zweimüller

The Journal of the Economics of Ageing, 2017, vol. 9, issue C, 14-29

Abstract: We study whether employment prospects of old and young workers differ after a plant closure. Using Austrian administrative data and a combination of exact matching and fixed effects, we show that old and young workers face similarly large displacement costs in terms of employment in the long-run, but old workers lose considerably more initially and gain later. Effects on wages of displaced workers are not age-dependent. We interpret these findings in the light of a standard job search model augmented to allow for an absorbing state capturing the option of “early retirement”.

Keywords: Aging; Employability; Plant closures; Matching (search for similar items in EconPapers)
JEL-codes: J14 J65 (search for similar items in EconPapers)
Date: 2017
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http://www.sciencedirect.com/science/article/pii/S2212828X15300098

Related works:
Working Paper: Too Old To Work, Too Young To Retire? (2014) Downloads
Working Paper: Too Old to Work, Too Young to Retire? (2013) Downloads
Working Paper: Too Old to Work, Too Young to Retire? (2013) Downloads
Working Paper: Too Old to Work, too Young to Retire? (2007) Downloads
Working Paper: Too Old to Work, Too Young to Retire? (2007) Downloads
Working Paper: Too Old to Work, Too Young to Retire? (2007) Downloads
Working Paper: Too Old to Work, Too Young to Retire? (2007) Downloads
Working Paper: Too Old to Work, Too Young to Retire? (2007) Downloads
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The Journal of the Economics of Ageing is currently edited by D.E. Bloom, A. Sousa-Poza and U. Sunde

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