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American Economic Review: Vol. 103 No. 7 (December 2013)

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The Demand for Youth: Explaining Age Differences in the Volatility of Hours

Article Citation

Jaimovich, Nir, Seth Pruitt, and Henry E. Siu. 2013. "The Demand for Youth: Explaining Age Differences in the Volatility of Hours." American Economic Review, 103(7): 3022-44.

DOI: 10.1257/aer.103.7.3022

Abstract

Over the business cycle young workers experience much greater volatility of hours worked than prime-aged workers. This can arise from age differences in labor supply or labor demand characteristics. To distinguish between these, we document that, for young workers, both the cyclical volatilities of hours and wages are greater than those of the prime-aged. We argue that a general class of models featuring only age-specific labor supply differences cannot reconcile these facts. We then show that a simple model featuring labor demand differences can.

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Online Appendix (1.06 MB) | Download Data Set (284.49 KB) | Author Disclosure Statement(s) (346.23 KB)

Authors

Jaimovich, Nir (Duke U)
Pruitt, Seth (Federal Reserve Board)
Siu, Henry E. (U British Columbia)

JEL Classifications

E32: Business Fluctuations; Cycles
J13: Fertility; Family Planning; Child Care; Children; Youth
J22: Time Allocation and Labor Supply
J23: Labor Demand
J31: Wage Level and Structure; Wage Differentials


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