Hairault, Jean-Olivier; Langot, François; Sopraseuth, … - 2014
to the business cycle. We document volatilities of worker flows and hourly wage across age groups on CPS data. We find … that old worker's job flows are characterized by a higher responsiveness to business cycles than their younger counterparts …-life expectancy endogenously reduces their outside options and leads their wages to be less sensitive to the business cycle. Thus, in …