Replication data for: The Young, the Old, and the Restless: Demographics and Business Cycle Volatility
Principal Investigator(s): View help for Principal Investigator(s) Nir Jaimovich; Henry E. Siu
Version: View help for Version V1
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Project Citation:
Jaimovich, Nir, and Siu, Henry E. Replication data for: The Young, the Old, and the Restless: Demographics and Business Cycle Volatility. Nashville, TN: American Economic Association [publisher], 2009. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113306V1
Project Description
Summary:
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We investigate the consequences of demographic change for business cycle
analysis. We find that changes in the age composition of the labor force account
for a significant fraction of the variation in cyclical volatility observed in the
G7. Since World War II, these countries have experienced dramatic demographic
changes, although details regarding timing and nature differ across
countries. We exploit this variation to show that the workforce age composition
has a large and significant effect on cyclical volatility. We relate our results to
the recent decline in US macroeconomic volatility, finding that demographic
change accounts for approximately one-fifth to one-third of this moderation.
(JEL E32, J11)
Scope of Project
JEL Classification:
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E32 Business Fluctuations; Cycles
J11 Demographic Trends, Macroeconomic Effects, and Forecasts
E32 Business Fluctuations; Cycles
J11 Demographic Trends, Macroeconomic Effects, and Forecasts
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