TY - JOUR
T1 - Estimating the effect of the age distribution on cyclical
T2 - Output volatility across the United States
AU - Lugauer, Steven
N1 - Copyright:
Copyright 2013 Elsevier B.V., All rights reserved.
PY - 2012
Y1 - 2012
N2 - I exploit the variation in demographic change across the United States to estimate the relationship between the age distribution in the population and the magnitude of cyclical output volatility. According to panel regression estimates, the relative supply of young workers, or youth share, has a statistically significant effect on the volatility of state-by-state GDP. Moreover, changes to the age distribution can account for up to 58% of the recent reduction in business cycle fluctuations, indicating a critical link between the youth share and output volatility.
AB - I exploit the variation in demographic change across the United States to estimate the relationship between the age distribution in the population and the magnitude of cyclical output volatility. According to panel regression estimates, the relative supply of young workers, or youth share, has a statistically significant effect on the volatility of state-by-state GDP. Moreover, changes to the age distribution can account for up to 58% of the recent reduction in business cycle fluctuations, indicating a critical link between the youth share and output volatility.
UR - http://www.scopus.com/inward/record.url?scp=84886923364&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=84886923364&partnerID=8YFLogxK
U2 - 10.1162/REST_a_00278
DO - 10.1162/REST_a_00278
M3 - Article
AN - SCOPUS:84886923364
SN - 0034-6535
VL - 94
SP - 896
EP - 902
JO - Review of Economics and Statistics
JF - Review of Economics and Statistics
IS - 4
ER -