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Did Timing Matter? Life Cycle Differences in Effects of Exposure to the Great Recession

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  • Kevin Rinz

Abstract

I estimate the effects of exposure to the Great Recession on employment and earnings for groups defined by year of birth over the 10 years following the beginning of the recession. Younger workers experience the largest earnings losses in percentage terms (up to 13%), in part because they remain less likely to work for high-paying employers even as their overall employment recovers more quickly than that of older workers.

Suggested Citation

  • Kevin Rinz, 2022. "Did Timing Matter? Life Cycle Differences in Effects of Exposure to the Great Recession," Journal of Labor Economics, University of Chicago Press, vol. 40(3), pages 703-735.
    • Handle: RePEc:ucp:jlabec:doi:10.1086/716346
    DOI: 10.1086/716346
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    Citations

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    Cited by:

    1. Jeremy Kirk, 2024. "The Impact of Parental Resources on Human Capital Investment and Labor Market Outcomes: Evidence from the Great Recession," Working Papers 24-34, Center for Economic Studies, U.S. Census Bureau.
    2. Lee, Kyeongah, 2024. "The heterogenous effects of initial labor market conditions on entrants' careers across types of colleges," Journal of Asian Economics, Elsevier, vol. 94(C).
    3. Brad Hershbein & Bryan A. Stuart, 2024. "The Evolution of Local Labor Markets after Recessions," American Economic Journal: Applied Economics, American Economic Association, vol. 16(3), pages 399-435, July.
    4. Samuel Dodini & Kjell G. Salvanes & Alexander Willén & Li Zhu & Alexander L.P. Willén, 2023. "The Career Effects of Union Membership," CESifo Working Paper Series 10469, CESifo.
    5. Pinto, Sérgio & Steinbaum, Marshall, 2023. "The long-run impact of the Great Recession on student debt," Labour Economics, Elsevier, vol. 85(C).
    6. Garrett Anstreicher, 2024. "Family Resources and Human Capital in Economic Downturns," Working Papers 24-15, Center for Economic Studies, U.S. Census Bureau.
    7. Kjell G. Salvanes & Barton Willage & Alexander Willén, 2024. "The Effect of Labor Market Shocks across the Life Cycle," Journal of Labor Economics, University of Chicago Press, vol. 42(1), pages 121-160.
    8. Valerie Cerra & Antonio Fatás & Sweta C. Saxena, 2023. "Hysteresis and Business Cycles," Journal of Economic Literature, American Economic Association, vol. 61(1), pages 181-225, March.
    9. Bäckström, Peter, 2023. "Swedish Veterans After Bosnia: The Relationship Between Military Deployment and Labour Market Marginalisation," Umeå Economic Studies 1011, Umeå University, Department of Economics.
    10. Michel Grosz & Tomás Monarrez, 2025. "The Effect of the Great Recession on Student Loan Borrowing and Repayment," Working Papers 25-13, Federal Reserve Bank of Philadelphia.
    11. Chiara Cavaglia & Sandra McNally, 2025. "Young people, human capital investment and the Great Recession," CVER Research Papers 042, Centre for Vocational Education Research.
    12. Felipe Alves & Giovanni L. Violante, 2024. "From Micro to Macro Hysteresis: Long-Run Effects of Monetary Policy," Staff Working Papers 24-39, Bank of Canada.
    13. Berniell, Inés & Gasparini, Leonardo & Marchionni, Mariana & Viollaz, Mariana, 2023. "Lucky women in unlucky cohorts," Journal of Development Economics, Elsevier, vol. 161(C).
    14. Garrett Anstreicher, 2020. "Family Formation and the Great Recession," Working Papers 20-42, Center for Economic Studies, U.S. Census Bureau.

    More about this item

    JEL classification:

    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
    • J60 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - General

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