TY  - JOUR
AU  - Schwandt, Hannes
AU  - von Wachter, Till M
TI  - Unlucky Cohorts: Estimating the Long-term Effects of Entering the Labor Market in a Recession in Large Cross-sectional Data Sets
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 25141
PY  - 2018
Y2  - October 2018
DO  - 10.3386/w25141
UR  - http://www.nber.org/papers/w25141
L1  - http://www.nber.org/papers/w25141.pdf
N1  - Author contact info:
Hannes Schwandt
School of Education and Social Policy
Northwestern University
2120 Campus Drive
Evanston, Il 60208
E-Mail: schwandt@northwestern.edu

Till M. von Wachter
Department of Economics
University of California, Los Angeles
8283 Bunche Hall
MC 147703
Los Angeles, CA 90095
Tel: 310-825-5665
Fax: 310-825-9528
E-Mail: tvwachter@econ.ucla.edu
M1  - published as Hannes Schwandt, Till von Wachter. "Unlucky Cohorts: Estimating the Long-Term Effects of Entering the Labor Market in a Recession in Large Cross-Sectional Data Sets," in David Card, organizer, "Youth Labor Markets" Journal of Labor Economics, volume 37, supplement 1 (University of Chicago Press) (2019)

AB  - 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 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.
ER  -