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Pension benefit reform and the substitution of older for younger workers
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics.ORCID iD: 0000-0001-9244-7018
SFI - Danish National Centre for Social Research.
2014 (English)Conference paper, Oral presentation with published abstract (Refereed)
Abstract [en]

Early pension benefits encourage workers to retire before normal pensionable age. The age structure ofemployment reflects the relative prices of retaining workers of different ages. We use a recent reform to pension benefits in Denmark to analyze the relationship between the wages and employment of workers ofdifferent ages at the firm level. We find that the reform changed retirement ages of unskilled workers – the group with lowest wages and largest replacement rate changes due to the reform. This provides instrumental variables by which to identify parameters of a CES production function. For this group of unskilled workers we are able to estimate the elasticity of substitution between old and young at the firm level to be unity – they are perfect substitutes.

Place, publisher, year, edition, pages
2014.
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:umu:diva-92506OAI: oai:DiVA.org:umu-92506DiVA: diva2:741075
Conference
Econometric Society European Meeting
Available from: 2014-08-27 Created: 2014-08-27 Last updated: 2014-09-29Bibliographically approved

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http://www.eea-esem.com/EEA-ESEM/2014/prog/getpdf.asp?pid=2009&pdf=/files/papers/EEA-ESEM/2014/2009/pbgl141013%2Epdf

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CiteExportLink to record
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Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
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Language
  • de-DE
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  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
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  • asciidoc
  • rtf