Chapter

The Interaction of Youth and Elderly Labor Markets in Canada

Michael Baker, Jonathan Gruber and Kevin Milligan

in Social Security Programs and Retirement around the World

Published by University of Chicago Press

Published in print April 2010 | ISBN: 9780226309484
Published online February 2013 | e-ISBN: 9780226309507 | DOI: http://dx.doi.org/10.7208/chicago/9780226309507.003.0003
The Interaction of Youth and Elderly Labor Markets in Canada

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The importance of labor market considerations in the public debate about public pensions has varied tremendously through time. One of the most important changes has been in the age composition. This change has been driven partially by demographics as the baby boom generation pushed its way through youth and middle age; and now approaches traditional retirement ages. The development of public pensions in Canada can be divided into five distinct eras, each with its own social concerns, policy debates, and policy actions. On the production side of the economy, younger and older workers can in theory be either substitutes or complements. For example, if there are important gains from sharing knowledge, training, or combining experience levels to produce output, then older and younger workers may be complements. On the other hand, if there is little substantive difference between workers of different ages, then older and younger workers may be substitutes.

Keywords: labor market; youth; elderly labor; ages; policy actions; Canada

Chapter.  6647 words.  Illustrated.

Subjects: Public Economics

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