In general, retirement is seen as a pure labor supply phenomenon, but firms can have strong incentives to send … expensive older workers into retirement. Based on the seniority wage model developed by Lazear (1979), we discuss steep … seniority wage profiles as incentives for firms to dismiss older workers before retirement. Conditional on individual retirement …

We estimate the causal effect of parents' unemployment on unemployment among their children in their own adulthood. We …) identification strategy using parents' job loss during a mass layoff as the instrument. We find evidence of unemployment inheritance … in the next generation. An additional day of unemployment during childhood causally raises the average unemployment days …