Gielen, Anne C. (contributor); Ours, Jan C. van (contributor) - 2005
cyclical adjustments of the workforce occur mainly through fluctuations in job creation for young and prime-age workers while … for old workers they occur mainly through fluctuations in job destruction. Moreover, we find that business cycle … fluctuations are used to rejuvenate the workforce. Workforce reductions are most harmful for old workers; for them the flow out of …