Releasing Jobs for the Young?

James Banks, Richard Blundell, Antoine Bozio and Carl Emmerson

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:
Releasing Jobs for the Young?

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This chapter assesses whether there is any empirical evidence of links between early retirement and youth unemployment. The chapter is organized as follows. Section 11.2 describes the debates concerning the relationship between the number of older and younger workers in the UK, and discusses in what respect they led to changes in policies to foster early exit of older workers. Section 11.3 contains descriptive figures comparing the labor force participation of older individuals in the United Kingdom with the evolution of employment for younger individuals as well as a cross-country comparison of the French and the UK experience. Section 11.4 describes the Job Release Scheme—the major UK early retirement scheme of the late 1970s and early 1980s—and presents estimations of what could be considered to be a “natural experiment” of specific incentives to encourage early retirement. Section 11.5 describes the methodology of comparable regressions both at the micro level and in times series of the relationship between young and old labor force participation. Section 11.6 draws conclusions.

Keywords: young workers; employment; labor force participation; older workers; retirement incentives; comparable regressions; Job Release Scheme

Chapter.  9732 words.  Illustrated.

Subjects: Public Economics

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