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Make Yourselves Scarce: The Effect of Demographic Change on the Relative Wages and Employment Rates of Experienced Workers

Michael Boehm and Christian Siegel

No 15953, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: This paper studies the impact of demographic change on experienced workers' relative wages and employment rates. We investigate empirical predictions from a framework of supply and demand for experience skill, using variation across U.S. local labor markets (LLMs) over the last decades and instrumenting experience skill supply by the LLMs' age structures a decade earlier. We find that aging substantially reduces experienced workers' relative wages and full-time employment rates, and also their labor market participation rates. Our results imply that the effect of demographic change on labor markets might be more severe than previously recognized, as it reaches beyond wages.

Keywords: Demographic Change; Employment of Experienced Workers; Return to Experience (search for similar items in EconPapers)
JEL-codes: J11 J21 J31 (search for similar items in EconPapers)
Date: 2021-03
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Working Paper: Make Yourselves Scarce: The Effect of Demographic Change on the Relative Wages and Employment Rates of Experienced Workers (2019) Downloads
Working Paper: Make Yourselves Scarce: The Effect of Demographic Change on the Relative Wages and Employment Rates of Experienced Workers (2019) Downloads
Working Paper: Make yourselves scarce: The effect of demographic change on the relative wages and employment rates of experienced workers (2019) Downloads
Working Paper: Make yourselves scarce: The effect of demographic change on the relative wages and employment rates of experienced workers (2019) Downloads
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