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Title: The Long-Term Labor Market Consequences of Graduating From College in a Bad Economy
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 Labour Economics 17,2 (April 2010): 303-316. Also: http://www.sciencedirect.com/science/article/pii/S0927537109001018 Cohort(s): NLSY79 Publisher: Elsevier Keyword(s): Armed Forces Qualifications Test (AFQT); College Graduates; Economics, Demographic; Educational Attainment; Geocoded Data; Labor Market Outcomes; Labor Supply; Occupational Prestige; Occupational Status; Racial Differences; Wage Effects 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 of 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. [Copyright Elsevier] |
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Bibliography Citation
Kahn, Lisa B. "The Long-Term Labor Market Consequences of Graduating From College in a Bad Economy." Labour Economics 17,2 (April 2010): 303-316.
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