Will Postponing Retirement Age Affect Youth Employment？-- A Perspective Differentiating Workforce Education Levels

摘要

This paper calculates the employment substitutability between young workforce and ageing workforce using Welch index. The result shows that the employment substitutability between these two groups of people is rather poor. Furthermore, the result of our dynamic panel regression analysis indicates that an increase in the share of ageing workforce is conducive to youth employment. Such a positive effect mainly derives from more educated ageing workforce, while the increase of less educated ageing workforce has little effect on youth employment.