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Career Crisis? Impacts of Financial Shock on the Entry-Level Labor Market: Evidence from Thailand

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  • Machikita, Tomohiro

Abstract

We utilize Thailand's the financial crisis in 1997 as a natural experiment which exogenously shifts labor demand. Convincing evidence from the Thailand Labor Force Survey support the hypothesis that both employment opportunities and wages shrunk for new entrants after the crisis. We find that workers who entered before the crisis experienced job losses and wage losses. But these losses were smaller than those of new entrants after the crisis. We also find that new entrants after the crisis experienced a 10% reduction in the overtime wages compared to new entrants before the crisis.

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File URL: http://ir.ide.go.jp/dspace/bitstream/2344/335/3/ARRIDE_Discussion_No.83_machikita.pdf
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Bibliographic Info

Paper provided by Institute of Developing Economies, Japan External Trade Organization(JETRO) in its series IDE Discussion Papers with number 83.

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Date of creation: Dec 2006
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Publication status: Published in IDE Discussion Paper. No. 83. 2006.12
Handle: RePEc:jet:dpaper:dpaper83

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Related research

Keywords: Crisis; Financial crises; Entry-Level labor Market; Job loss; Treatment Effects; Thailand; Labor market; Employment; Wages;

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  1. Parent, Daniel, 2000. "Industry-Specific Capital and the Wage Profile: Evidence from the National Longitudinal Survey of Youth and the Panel Study of Income Dynamics," Journal of Labor Economics, University of Chicago Press, vol. 18(2), pages 306-23, April.
  2. Pfann, Gerard A & Ben Kriechel, 2003. "Heterogeneity among Displaced Workers," Royal Economic Society Annual Conference 2003 164, Royal Economic Society.
  3. Thomas, Duncan & Beegle, Kathleen & Frankenberg, Elizabeth & Sikoki, Bondan & Strauss, John & Teruel, Graciela, 2004. "Education in a crisis," Journal of Development Economics, Elsevier, vol. 74(1), pages 53-85, June.
  4. Crépon, Bruno & Kramarz, Francis, 2002. "Employed 40 Hours or Not-Employed 39: Lessons from the 1982 Mandatory Reduction of the Workweek," IZA Discussion Papers 416, Institute for the Study of Labor (IZA).
  5. Jacobson, Louis S & LaLonde, Robert J & Sullivan, Daniel G, 1993. "Earnings Losses of Displaced Workers," American Economic Review, American Economic Association, vol. 83(4), pages 685-709, September.
  6. Duncan Thomas & James P. Smith & Kathleen Beegle & Graciela Teruel & Elizabeth Frankenberg, 2002. "Wages, employment and economic shocks: Evidence from Indonesia," Journal of Population Economics, Springer, vol. 15(1), pages 161-193.
  7. McKenzie, David J, 2004. "Aggregate Shocks and Urban Labor Market Responses: Evidence from Argentina's Financial Crisis," Economic Development and Cultural Change, University of Chicago Press, vol. 52(4), pages 719-58, July.
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