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THE IMPACT OF YOUNG WORKERS ON THE AGGREGATE MARKET (Robert Shimer, 2001) by Mind Map: THE IMPACT OF YOUNG WORKERS ON THE AGGREGATE MARKET (Robert Shimer, 2001)
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THE IMPACT OF YOUNG WORKERS ON THE AGGREGATE MARKET (Robert Shimer, 2001)

Baby Boom US

Past 50 years

Changes in unemployment rate

Effects

Contrary to Literature

"Not only arethe signs of these estimates contrary to the existing literature,but the magnitudes are enormous"

Literature

Increase in youth share

About

Increase in share of youth

causes - sharp reduction in that states unemployment rate - modest increase in labour force participation rate

inconsistent with many theories of the labour market

explained

uses

Task of the Paper

Focus on data from US

This paper’s primary innovation is to focus on data from within the United States.

Develop a theory to explain findings

Notes

Youth Population = Age 16-24

Critic 1

The Author proved that the increase in demand is determined by Global Macroeconomic Fluctuations, but he didn't took in consideration that the same Fluctuations might be the answer for the "unexpected" increase in the labour utilization rate