The Impact of Young Workers on the Aggregate Labor Market

@inproceedings{Shimer2000TheIO,
  title={The Impact of Young Workers on the Aggregate Labor Market},
  author={Robert Shimer},
  year={2000}
}
An increase in the share of youth in the working age population of one state or region relative to the rest of the United States causes a sharp reduction in that state’s relative unemployment rate and a modest increase in its labor force participation rate. This is inconsistent with many theories of the labor market, but can be easily explained by a model of frictional unemployment with on-the-job search. The theory makes strong predictions regarding the behavior of wages which are shown to be… CONTINUE READING
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