Larger Birth Cohort Lowers Wages
Michael Papadopoulos and
Anthony Webb ()
No 2017-01, SCEPA policy note series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School
Inadequate retirement savings will force millions of older Americans to seek work at older ages. Many who delay retirement will find work, but no study has looked at the effect on wages. This policy brief found being a member of a super-sized birth cohort has depressed Boomers' wages throughout their careers. Labor market crowding caused by Boomers delaying retirement will continue to reduce their wages in old age relative to what would have happened had their share of the labor force declined at the same rate as prior generations. The reduction in wages resulting from the increase in older workers provides a cautionary note to those advocating delayed retirement as a solution to the retirement savings crisis.
Keywords: Retirement; savings; older workers; retirement; wages (search for similar items in EconPapers)
JEL-codes: D63 E21 J26 J30 J32 J38 (search for similar items in EconPapers)
Pages: 5 pages
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Persistent link: https://EconPapers.repec.org/RePEc:epa:cepapn:2017-01
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