Unlucky cohorts: Estimating the long-term effects of entering the labor market in a recession in large cross-sectional data sets

Hannes Schwandt, Till von Wachter

Research output: Contribution to journalArticle

5 Scopus citations

Abstract

This paper studies the differential persistent effects of initial economic conditions for labor market entrants in the United States from 1976 to 2015 by education, gender, and race using labor force survey data. We find persistent earnings and wage reductions, especially for less advantaged entrants, that increases in government support only partly offset. We confirm that the results are unaffected by selective migration and labor market entry by also using a double-weighted average unemployment rate at labor market entry for each birth cohort and state-of-birth cell based on average state migration rates and average cohort education rates from census data.

Original languageEnglish (US)
Pages (from-to)S161-S198
JournalJournal of Labor Economics
Volume37
DOIs
StatePublished - Jan 1 2019

ASJC Scopus subject areas

  • Industrial relations
  • Economics and Econometrics

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