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Author: Kaplan, Greg
Resulting in 2 citations.
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Kaplan, Greg |
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Boomerang Kids: Labor Market Dynamics and Moving Back Home Working Paper 675, Federal Reserve Bank of Minneapolis, October 2009. Also: http://www.minneapolisfed.org/research/WP/WP675.pdf Cohort(s): NLSY97 Publisher: Federal Reserve Bank of Minneapolis Keyword(s): Coresidence; Employment; Family Studies; Heterogeneity; Labor Market Outcomes; Modeling, Hazard/Event History/Survival/Duration; Unemployment, Youth Permission to reprint the abstract has not been received from the publisher. This paper examines the relationship between the dynamics of parent-youth living arrangements and labor market outcomes for youths who do not go to college in the United States. The data come from a newly constructed panel data set based on retrospective monthly coresidence questions in the NLSY97. This is the first data set containing information on the labor market circumstances of youths at the time of movements in and out of the parental home. Based on estimates from duration models that allow for unobserved heterogeneity, I find that moving from employment to non-employment increases the hazard of moving back home in a given month by 64% for males and 71% for females. These results suggest that labor market factors play an important role in determining the dynamics of parent-youth living arrangements and that coresidence may be an important way in which insurance against labor market shocks takes place within the family. |
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Bibliography Citation
Kaplan, Greg. "Boomerang Kids: Labor Market Dynamics and Moving Back Home." Working Paper 675, Federal Reserve Bank of Minneapolis, October 2009. |
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Kaplan, Greg |
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Moving Back Home: Insurance against Labor Market Risk Journal of Political Economy 120,3 (June 2012): 446-512. Also: http://www.jstor.org/stable/10.1086/666588 Cohort(s): NLSY97 Publisher: University of Chicago Press Keyword(s): Labor Force Participation; Mobility; Mobility, Residential; Parent-Child Interaction; Residence; Wage Growth This paper demonstrates that the option to move in and out of the parental home is a valuable insurance channel against labor market risk, which facilitates the pursuit of jobs with the potential for high earnings growth. Using monthly panel data, I document an empirical relationship among coresidence, individual labor market events, and subsequent earnings growth. I estimate the parameters of a dynamic game between youths and parents to show that the option to live at home can account for features of aggregate data for low-skilled young workers: small consumption responses to shocks, high labor elasticities, and low savings rates. |
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Bibliography Citation
Kaplan, Greg. "Moving Back Home: Insurance against Labor Market Risk." Journal of Political Economy 120,3 (June 2012): 446-512.
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