| Population Aging and the Structure of Wages |
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WP#2006-5 Abstract
The United States, along with virtually all other developed countries, is on the cusp of a radical transformation of its labor markets. One consequence of demographic change is that there have been substantial shifts in the age distribution of the working age population. The usual historical pattern of a high ratio of younger workers relative to older workers is being replaced by a pattern of roughly equal percentages of workers of different ages. One might expect that the increasing relative supply of older workers would decrease the wage premium paid for older, and more experienced, workers. For executive summary in PDF For full paper in PDF
Bob Triest is a visiting scholar at the Center while on leave from the Federal Reserve Bank ofBoston, where he is a Senior Economist and Policy Advisor. Margarita Sapozhnikov is a graduate research assistant and PH.D student in Economics at Boston College. Dr. Steven A. Sass is a research associate at the Center and was an economist at the Federal Reserve Bank of Boston and a founding editor of the Bank’s quarterly economics magazine for the educated lay public, The Regional Review. The research reported herein was performed, in part, pursuant to a grant from the U.S. Social Security Administration (SSA) funded as part of the Retirement ResearchConsortium. The findings and conclusions expressed are solely those of the authors and do not represent the views of SSA, any agency of the Federal Government, or Boston College. |