Life-Cycle Equilibrium Unemployment
Bibliographic Data
| ID | 19040665 |
|---|---|
| Authors | Arnaud Chéron (0000-0003-0612-6723, corresponding author), Jean‐Olivier Hairault, Jean-Olivier Hairault, François Langot (0000-0001-7737-5319) |
| Year | 2013 |
| Volume | 31 |
| Issue | 4 |
| Pages | 843-882 |
| Publication date | 2013-09-12 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Labor Economics (JOURNAL) |
| Journal identifiers | ISSN: 0734-306X • E-ISSN: 1537-5307 |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/669941 |
| OpenAlex | W2102968171 |
| Language | EN |
| Citations received | 6 |
| References cited | 25 |
This paper extends the job creation–job destruction approach to the labor market to take into account a deterministic finite horizon. As hirings and separations depend on the time over which investment costs can be recouped, the life-cycle setting implies age-differentiated labor-market flows. While search by the unemployed falls with age, the separation rate is rather U-shaped over the life cycle. Worker heterogeneity in the context of undirected search implies an intergenerational externality, which is not eliminated by the Hosios condition. We show that age-specific policies are required to attain the first-best allocation
Business cycle · Economics · Externality · Keynesian economics · Labour economics · Macroeconomics · Mathematical economics · Microeconomics · Overlapping generations model · Time horizon · Unemployment · Financial Literacy, Pension, Retirement Analysis · Labor market dynamics and wage inequality · Retirement, Disability, and Employment
Job Creation and Job Destruction in the Theory of Unemployment
Looking into the Black Box
On the Efficiency of Matching and Related Models of Search and Unemployment
Wages, Productivity, and Worker Characteristics
Distance to Retirement and Older Workers‘ Employment
Optimal unemployment insurance for older workers
Distance to Retirement and Older Workers' Employment
Why Is There Mandatory Retirement
The European Unemployment Dilemma
Hiring Policies, Labor Market Institutions, and Labor Market Flows
Age‐Dependent Employment Protection
| Unique citing works | 6 |
|---|---|
| Citations per year | 0,55 |
| Citation span | 2015 - 2026 (12) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 6 |