The Persistent Effects of Initial Labor Market Conditions for Young Adults and Their Sources

Till von Wachter: Unlucky young workers entering the labor market in recessions suffer a range of medium- to long-term consequences. This paper summarizes the findings of the growing empirical literature on this subject and uses it to assess economic models of career development. The literature finds large initial effects on earnings, labor supply, and wages…

The Persistent Effects of Initial Labor Market Conditions for Young Adults and Their Sources — Schoolinfosystem.org

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