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Social Security Programs and Retirement around the WorldThe Relationship to Youth Employment$
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Jonathan Gruber and David A. Wise

Print publication date: 2010

Print ISBN-13: 9780226309484

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226309507.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 05 December 2019

The Effects of Early Retirement on Youth Unemployment

The Effects of Early Retirement on Youth Unemployment

The Case of Belgium

(p.47) 1 The Effects of Early Retirement on Youth Unemployment
Social Security Programs and Retirement around the World

Alain Jousten

Mathieu Lefèbvre

Sergio Perelman

Pierre Pestieau

University of Chicago Press

This chapter aims to derive a conclusive answer on the often cited potential for substitutability of employment of the old with that of the younger age groups. It provides some institutional background on the systems and regimes applicable to the older workers, as well as some specificity applicable to the young and describes the most important social protection schemes that provide for some form of replacement income when retiring from the labor market and when young and inactive. The nature of youth unemployment in Belgium is such that it is pretty insensitive to variations in labor demand, but rather it is the result of structural weaknesses in the areas of education, unemployment insurance, and wage formation. Furthermore, this chapter estimates the effect of incentive variables on activity rates, and documents the overall weak impact of parameters regarding the old on behavior of the young and shows that labor outcomes by gender have been slightly different over the period but they do not turn into different results than those obtained with aggregate labor market outcomes.

Keywords:   employment, youth unemployment, labor market, early retirement, market outcomes

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