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Source: Yale School of Management
Resulting in 1 citation.
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Kahn, Lisa B. |
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The Long-Term Labor Market Consequences of Graduating from College in a Bad Economy Working Paper, Yale School of Management, August 13, 2009. Also: http://mba.yale.edu/faculty/pdf/kahn_longtermlabor.pdf Cohort(s): NLSY79 Publisher: Yale School of Management Keyword(s): Armed Forces Qualifications Test (AFQT); College Graduates; Economic Changes/Recession; Educational Attainment; Geocoded Data; Human Capital; Job Tenure; Labor Market Outcomes; Occupational Prestige; Occupational Status; Wage Effects Permission to reprint the abstract has not been received from the publisher. [First Draft: 2003]. Updated: August 13, 2009. This paper studies the labor market experiences of white male college graduates as a function of economic conditions at time of college graduation. I use the National Longitudinal Survey of Youth whose respondents graduated from college between 1979 and 1989. I estimate the effects of both national and state economic conditions at time of college graduation on labor market outcomes for the first two decades of a career. Because timing and location of college graduation could potentially be affected by economic conditions, I also instrument for the college unemployment rate using year of birth (state of residence at an early age for the state analysis). I find large, negative wage effects to graduating in a worse economy which persist for the entire period studied. I also find that cohorts who graduate in worse national economies are in lower level occupations, have slightly higher tenure and higher educational attainment, while labor supply is unaffected. Taken as a whole, the results suggest that the labor market consequences of graduating from college in a bad economy are large, negative and persistent. |
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Bibliography Citation
Kahn, Lisa B. "The Long-Term Labor Market Consequences of Graduating from College in a Bad Economy." Working Paper, Yale School of Management, August 13, 2009. |