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Long-Term Effects of a Recession at Labor Market Entry in Japan and the United States

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  • Yuji Genda
  • Ayako Kondo
  • Souichi Ohta

Abstract

We examine effects of entering the labor market during a recession on subsequent employment and earnings for Japanese and American men, using comparable household labor force surveys. We find persistent negative effects of the unemployment rate at graduation for less-educated Japanese men, in contrast to temporary effects for less-educated American men. The school-based hiring system and the dismissal regulation prolong the initial loss of employment opportunities for less-educated Japanese men. The effect on earnings for more-educated groups is also stronger in Japan, although the difference between the two countries is smaller than for less-educated groups.

Suggested Citation

  • Yuji Genda & Ayako Kondo & Souichi Ohta, 2010. "Long-Term Effects of a Recession at Labor Market Entry in Japan and the United States," Journal of Human Resources, University of Wisconsin Press, vol. 45(1).
  • Handle: RePEc:uwp:jhriss:v:45:y:2010:i:1:p157-196
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    References listed on IDEAS

    as
    1. Genda, Yuji & Kurosawa, Masako, 2001. "Transition from School to Work in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 15(4), pages 465-488, December.
    2. repec:fth:prinin:454 is not listed on IDEAS
    3. Robert H. Topel & Michael P. Ward, 1992. "Job Mobility and the Careers of Young Men," The Quarterly Journal of Economics, Oxford University Press, vol. 107(2), pages 439-479.
    4. Welch, Finis, 1979. "Effects of Cohort Size on Earnings: The Baby Boom Babies' Financial Bust," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 65-97, October.
    5. Bowlus, Audra J, 1995. "Matching Workers and Jobs: Cyclical Fluctuations in Match Quality," Journal of Labor Economics, University of Chicago Press, vol. 13(2), pages 335-350, April.
    6. James Hines & Hilary Hoynes & Alan B. Krueger, 2001. "Another Look at Whether a Rising Tide Lifts All Boats," Working Papers 833, Princeton University, Department of Economics, Industrial Relations Section..
    7. Edward B. Montgomery, 1993. "Pattern in Regional Labor Market Adjustment: The United States vs. Japan," NBER Working Papers 4414, National Bureau of Economic Research, Inc.
    8. Finis Welch, 1979. "Effects of Cohort Size on Earnings: The Baby Boom Babies' Financial Bust," UCLA Economics Working Papers 146, UCLA Department of Economics.
    9. Kondo, Ayako, 2007. "Does the first job really matter? State dependency in employment status in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 21(3), pages 379-402, September.
    10. Beaudry, Paul & DiNardo, John, 1991. "The Effect of Implicit Contracts on the Movement of Wages over the Business Cycle: Evidence from Micro Data," Journal of Political Economy, University of Chicago Press, vol. 99(4), pages 665-688, August.
    11. James Hines & Hilary Hoynes & Alan Krueger, 2001. "Another Look at Whether a Rising Tide Lifts All Boats," Working Papers 833, Princeton University, Department of Economics, Industrial Relations Section..
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