Research On The Influence Mechanism Of Reemployment Of The Elderly On The Employment Of Young People

Since the reform and opening up,China's economy has developed rapidly.The demographic dividend is one of the reasons for the rapid development of our economy.However,in recent years,China's demographic dividend has gradually disappeared,and rapid population aging poses a threat to China's economic development.Effective labor supply has become one of the important challenges currently facing China.With the increase of life expectancy,China's current retirement system will cause waste of human resources,increase the pressure on young people to support and the pressure on pensions in China.The Third Plenary Session of the Eighteenth Central Committee of the Communist Party of China proposed that a progressive delayed retirement policy is expected to be formally implemented in 2022 to ease the pressure on pensions in China,give full play to the value of human capital,and promote economic development.However,one of the main concerns of the current academic circles about the implementation of the delayed retirement policy is whether the reemployment of the elderly will have a crowding-out effect on the employment of young people?First,in theory,this article analyzes from both macro and micro perspectives.From a personal micro perspective,combined with life cycle theory,we will study whether rational individuals will choose to re-employ in order to maximize their own utility when human life expectancy is extended.Studies have shown that rational individuals choose to re-employ to maximize the usefulness of the entire life cycle.From the perspective of the labor market macro,we use Diamond's generational overlap model to represent individual behavior,and use Cobb-Douglas production function to represent corporate behavior.We combine the two to study the impact of reemployment on the labor market.Studies show that delaying the retirement age is conducive to improving human capital in the labor market.Secondly,in terms of empirical research,this paper uses the population and employment data of 18 industries across the country from 2003 to 2017 to study the relationship between old-age reemployment and young people's employment and further explore how old-age reemployment can affect GDP.Mechanisms affect youth employment.Research shows that reemployment of the elderly will have a certain crowding-out effect on young people in the short term,but it is much smaller than the crowding-out effect on young people by middle-aged people,and the increase in GDP brought by the long-term will slow down the re-employment of the elderly on young people Human crowding effect.Finally,based on the results of the empirical analysis,suggestions are made on the upcoming retirement retirement policy.