In this paper, we investigate how changes in the skill mix of local labor supply are absorbed by the economy. We distinguish between three adjustment mechanisms: through factor prices, through an expansion in the size of those production units that use the more abundant skill group more...

This paper estimates the effects of cohort size on wages, employment and work time for workers in Germany. The empirical findings suggest that male workers with medium and high degrees of occupational specialization who were born at the peak of the baby boom earn at least 5.3% lower wages than...

The demographic transition is a phenomenon affecting many industrialized societies. These economies are experiencing a decline in mortality alongside low fertility rates - a situation that puts social security systems under severe pressure. To implement appropriate reform measures, adequate...