Events at CERGE-EI

Let us invite you to a Brown Bag Seminar by Sona Badalyan, a PhD student at CERGE-EI on Monday, December 1, at 09:45 at room 402. You can also attend online.

Presenter: Sona Badalyan (This email address is being protected from spambots. You need JavaScript enabled to view it.)

Title: "Crowded Career Ladders? Intra-firm Spillovers of Raising Retirement Age"

Abstract: Coworkers’ careers are interdependent. I study how delayed retirements reshape internal mobility and hiring, exploiting a German reform that raised women’s early retirement age by at least three years. The reform increased the retention of older women, resulting in reduced promotions and external hiring of younger colleagues. These spillovers are highly structured: promotion crowd-outs are concentrated in thick internal labor markets, where workers compete within dense occupational ladders, while hiring declines are largest in thin external labor markets, where replacement options are scarce. The interaction of these internal and external frictions generates cross-margin adjustments and implies that naïve estimates either overstate substitutability between older and external younger workers or understate the career costs borne by coworkers. Overall, delayed retirements reshape firms’ internal hierarchies and hiring pipelines, with the strongest negative effects falling on middle-aged workers who are the closest substitutes for older incumbents.

Meeting link: https://cerge-ei.webex.com/cerge-ei/j.php?MTID=m644c6ee1231b2c0261c17b38bfab3869

Meeting number: 2740 365 9130

Meeting password: 266954