Chapter

Youth Unemployment and Retirement of the Elderly

Agar Brugiavini and Franco Peracchi

in Social Security Programs and Retirement around the World

Published by University of Chicago Press

Published in print October 2007 | ISBN: 9780226310176
Published online February 2013 | e-ISBN: 9780226310008 | DOI: http://dx.doi.org/10.7208/chicago/9780226310008.003.0007
Youth Unemployment and Retirement of the Elderly

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This chapter examines whether the early retirement of older workers prompted reductions in the youth unemployment rate. It shows that the direct relationship between the unemployment rate of the young (age twenty to twenty-four) and the labor force participation of the old (fifty-five to sixty-four) is procyclical; that is, higher labor force participation of the old is associated with a lower unemployment rate of the young. This correlation occurs because both are driven by the business cycle.

Keywords: early retirement; youth unemployment; labor force participation; business cycle

Chapter.  13747 words.  Illustrated.

Subjects: Public Economics

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