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Who bears the brunt? The impact of banking crises on younger and older workers

Mathijs A. van Dijk, Hendrik P. van Dalen, Martin Hyde Orcid Logo

The Journal of the Economics of Ageing, Volume: 17, Start page: 100264

Swansea University Author: Martin Hyde Orcid Logo

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DOI (Published version): 10.1016/j.jeoa.2020.100264

Abstract

How do workers in different age groups fare on the labor market when a banking crisis occurs? Using data on 41 banking crises in 38 developed countries between 1990-2014, we examine how banking crises affect the labor market position of workers from five different age groups (including those aged 65...

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Published in: The Journal of the Economics of Ageing
ISSN: 2212-828X
Published: Elsevier BV 2020
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URI: https://cronfa.swan.ac.uk/Record/cronfa54326
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first_indexed 2020-05-28T13:08:34Z
last_indexed 2020-12-16T04:16:17Z
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spelling 2020-12-15T10:59:14.9851445 v2 54326 2020-05-28 Who bears the brunt? The impact of banking crises on younger and older workers fce212ae306f4f36b2c328ec89c5da9b 0000-0002-9955-8121 Martin Hyde Martin Hyde true false 2020-05-28 PHAC How do workers in different age groups fare on the labor market when a banking crisis occurs? Using data on 41 banking crises in 38 developed countries between 1990-2014, we examine how banking crises affect the labor market position of workers from five different age groups (including those aged 65 years and older) and whether employment protection legislation shields workers from unemployment. Results show that unemployment increases for all age groups in the aftermath of banking crises, but much more so for younger workers. The labor force participation of older women increases significantly in the medium run, whereas older men close to retirement withdraw from the labor market. Countries with strong employment protection legislation shield workers from the impact of banking crises in the short run but show signs of increases in unemployment rates for young and middle-aged workers in the medium run. Journal Article The Journal of the Economics of Ageing 17 100264 Elsevier BV 2212-828X banking crisis; unemployment; employment protection; age; older workers; labor force 1 10 2020 2020-10-01 10.1016/j.jeoa.2020.100264 COLLEGE NANME Public Health COLLEGE CODE PHAC Swansea University 2020-12-15T10:59:14.9851445 2020-05-28T09:09:40.6996854 Faculty of Medicine, Health and Life Sciences The Centre for Innovative Ageing Mathijs A. van Dijk 1 Hendrik P. van Dalen 2 Martin Hyde 0000-0002-9955-8121 3 54326__18306__b8cc60bdc356440a8bfd3273e45b2098.pdf 54326.pdf 2020-10-02T12:14:59.8235262 Output 865830 application/pdf Version of Record true This is an open access article under the CC BY license. true eng http://creativecommons.org/licenses/BY/4.0/
title Who bears the brunt? The impact of banking crises on younger and older workers
spellingShingle Who bears the brunt? The impact of banking crises on younger and older workers
Martin Hyde
title_short Who bears the brunt? The impact of banking crises on younger and older workers
title_full Who bears the brunt? The impact of banking crises on younger and older workers
title_fullStr Who bears the brunt? The impact of banking crises on younger and older workers
title_full_unstemmed Who bears the brunt? The impact of banking crises on younger and older workers
title_sort Who bears the brunt? The impact of banking crises on younger and older workers
author_id_str_mv fce212ae306f4f36b2c328ec89c5da9b
author_id_fullname_str_mv fce212ae306f4f36b2c328ec89c5da9b_***_Martin Hyde
author Martin Hyde
author2 Mathijs A. van Dijk
Hendrik P. van Dalen
Martin Hyde
format Journal article
container_title The Journal of the Economics of Ageing
container_volume 17
container_start_page 100264
publishDate 2020
institution Swansea University
issn 2212-828X
doi_str_mv 10.1016/j.jeoa.2020.100264
publisher Elsevier BV
college_str Faculty of Medicine, Health and Life Sciences
hierarchytype
hierarchy_top_id facultyofmedicinehealthandlifesciences
hierarchy_top_title Faculty of Medicine, Health and Life Sciences
hierarchy_parent_id facultyofmedicinehealthandlifesciences
hierarchy_parent_title Faculty of Medicine, Health and Life Sciences
department_str The Centre for Innovative Ageing{{{_:::_}}}Faculty of Medicine, Health and Life Sciences{{{_:::_}}}The Centre for Innovative Ageing
document_store_str 1
active_str 0
description How do workers in different age groups fare on the labor market when a banking crisis occurs? Using data on 41 banking crises in 38 developed countries between 1990-2014, we examine how banking crises affect the labor market position of workers from five different age groups (including those aged 65 years and older) and whether employment protection legislation shields workers from unemployment. Results show that unemployment increases for all age groups in the aftermath of banking crises, but much more so for younger workers. The labor force participation of older women increases significantly in the medium run, whereas older men close to retirement withdraw from the labor market. Countries with strong employment protection legislation shield workers from the impact of banking crises in the short run but show signs of increases in unemployment rates for young and middle-aged workers in the medium run.
published_date 2020-10-01T04:07:48Z
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score 11.0127

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