Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/226366
Authors: 
Ochsen, Carsten
Year of Publication: 
2020
Series/Report no.: 
Thünen-Series of Applied Economic Theory - Working Paper No. 165
Abstract: 
Since the early 1970s, it was argued that shifts from relatively smaller to larger youth cohorts in the labor force raise the unemploy- ment rate. In contrast, Shimer (2001) comes to a contrary conclusion using US state level data. I provide a theoretical framework for local labor markets that considers age cohort differences in labor market characteristics. Using a spatial panel data model and US county level data (2000-2014), the estimates provide strong evidence that aging of the working age population reduces overall unemployment by almost one percentage point. Long-run effects that consider local feedbacks are even larger.
Subjects: 
Regional Unemployment
Spatial Interactions
Aging
Panel Data
Spatial Model
JEL: 
J60
R12
J10
C23
Document Type: 
Working Paper

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