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The aggregate implications of changes in the labour force composition

The aggregate implications of changes in the labour force composition
The aggregate implications of changes in the labour force composition
Labour composition by gender, age, and education has undergone dramatic changes over the last half century in the United States. Furthermore, the volatility of total market hours differs systematically between genders, age, and education groups. I develop a large scale business cycle model where these demographic patterns and their transitional dynamics are taken into account and find that demographic change accounts for 30% of the observed changes in aggregate volatility over this period of time. Additionally, these demographic changes are responsible for a significant fraction of the GDP growth observed in the considered period of time.
0014-2921
83-106
Mennuni, Alessandro
18a3b238-2d5b-4219-8d50-7c87765007a4
Mennuni, Alessandro
18a3b238-2d5b-4219-8d50-7c87765007a4

Mennuni, Alessandro (2019) The aggregate implications of changes in the labour force composition. European Economic Review, 116, 83-106. (doi:10.1016/j.euroecorev.2019.03.007).

Record type: Article

Abstract

Labour composition by gender, age, and education has undergone dramatic changes over the last half century in the United States. Furthermore, the volatility of total market hours differs systematically between genders, age, and education groups. I develop a large scale business cycle model where these demographic patterns and their transitional dynamics are taken into account and find that demographic change accounts for 30% of the observed changes in aggregate volatility over this period of time. Additionally, these demographic changes are responsible for a significant fraction of the GDP growth observed in the considered period of time.

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Accepted/In Press date: 15 March 2019
e-pub ahead of print date: 27 March 2019
Published date: 1 July 2019

Identifiers

Local EPrints ID: 430813
URI: https://eprints.soton.ac.uk/id/eprint/430813
ISSN: 0014-2921
PURE UUID: 91edb6b6-5227-477f-9aec-6356fcae0df8

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Date deposited: 14 May 2019 16:30
Last modified: 19 Jul 2019 16:34

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