The long-term effects of labor market entry in a recession : evidence from the Asian financial crisis

Eleanor Jawon Choi (Hanyang University), Jaewoo Choi (Korea Development Institute), Hyelim Son (University of Seoul)

This paper investigates the long-term effects of initial labor market conditions by comparing cohorts who graduated from college before, during, and after the 1997-1998 Asian financial crisis. We measure the overall welfare impact by examining not only labor market activities but also family formation and wealth accumulation. Using data from 20 waves of the Korean Labor and Income Panel Study, we find a substantial and persistent reduction in employment, earnings, marriage, fertility, and financial assets among men who graduated in a bad economy. For women, limited job opportunities at graduation result in an increase in childbearing.

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Year of publication:	2-4-2020
Authors:	Choi, Eleanor Jawon ; Choi, Jaewoo ; Son, Hyelim
Publisher:	Kalamazoo, MI : W.E. Upjohn Institute for Employment Research
Subject:	recession \| financial crisis \| long-term effects \| college graduates \| Finanzkrise \| Financial crisis \| Konjunktur \| Business cycle \| Arbeitsmarktintegration \| Labour market integration \| Wirtschaftskrise \| Economic crisis \| Asien \| Asia \| Arbeitsmarkt \| Labour market \| Wirkungsanalyse \| Impact assessment

Extent:	1 Online-Ressource (circa 62 Seiten) Illustrationen
Series:	Upjohn Institute working papers. - Kalamazoo, Mich. : [Verlag nicht ermittelbar], ZDB-ID 2164806-2. - Vol. 19, 312
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Other identifiers:	10.17848/wp19-312 [DOI] hdl:10419/228416 [Handle]
Classification:	E32 - Business Fluctuations; Cycles ; J10 - Demographic Economics. General ; E21 - Consumption; Saving ; J20 - Time Allocation; Work Behavior; Employment Determination and Creation. General ; J31 - Wage Level and Structure; Wage Differentials by Skill, Training, Occupation, etc
Source:	ECONIS - Online Catalogue of the ZBW

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