期刊
JOURNAL OF THE ECONOMICS OF AGEING
卷 9, 期 -, 页码 14-29出版社
ELSEVIER SCIENCE BV
DOI: 10.1016/j.jeoa.2016.07.001
关键词
Aging; Employability; Plant closures; Matching
资金
- Austrian Science Foundation (FWF, NFN Labor Economics and the Welfare State)
- Austrian National Bank [10643]
- CD-Laboratory
We study whether employment prospects of old and young workers differ after a plant closure. Using Austrian administrative data and a combination of exact matching and fixed effects, we show that old and young workers face similarly large displacement costs in terms of employment in the long-run, but old workers lose considerably more initially and gain later. Effects on wages of displaced workers are not age-dependent. We interpret these findings in the light of a standard job search model augmented to allow for an absorbing state capturing the option of early retirement. (C) 2016 Elsevier B.V. All rights reserved.
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