The Effects of Early Retirement on Youth Unemployment: The Case of Belgium
33 Pages Posted: 18 Feb 2008
Date Written: February 2008
In this paper, we describe the changes of (early) retirement programs over time and study the link between trends in elderly labor force participation and youth unemployment. From a theoretical point of view, there is no convincing argument that the idea of a lump-of-labor should hold. Our empirical results comfort this finding, and indicate a very weak link, if any, between elderly retirement and activity among the young and the prime-age populations.
Keywords: Unemployment, Belgium, Labor supply, Pensions
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