Fiche du document
- handle: 10670/1.4wqmk4
- halshs: halshs-04431902
info:eu-repo/semantics/OpenAccess
Mots-clés
High School Major Recession Information Frictions Structural Change High School Major Structural Change E - Macroeconomics and Monetary Economics/E.E3 - Prices, Business Fluctuations, and Cycles/E.E3.E32 - Business Fluctuations • Cycles I - Health, Education, and Welfare/I.I2 - Education and Research Institutions/I.I2.I25 - Education and Economic Development J - Labor and Demographic Economics/J.J2 - Demand and Supply of Labor/J.J2.J24 - Human Capital • Skills • Occupational Choice • Labor Productivity J - Labor and Demographic Economics/J.J6 - Mobility, Unemployment, Vacancies, and Immigrant Workers/J.J6.J63 - Turnover • Vacancies • LayoffsSujets proches
Labor and laboring classes Students--Education Children--Education Education of children Schooling Pedagogy Youth--Education Instruction Education, Primitive Human resource developmentCiter ce document
Julien Grenet et al., « How Early Career Choices Adjust to Economic Crises », HAL-SHS : économie et finance, ID : 10670/1.4wqmk4
Métriques
Partage / Export
Résumé
We study how students adjust their early career choices in response to economic crises, and how this behavioral response affects their long-run labor market outcomes. We specifically examine the context of the severe recession that struck Sweden in the early 1990s, which disproportionally affected the manufacturing and construction sectors. We find that students who experienced paternal job loss in these heavily affected sectors were more likely to choose high school programs linked to sectors less impacted by the recession. As a result, these individuals achieved better labor market outcomes in adulthood, including higher employment rates and career earnings. Our findings are consistent with informational frictions being a key obstacle to structural change, and we identify career choice as an important mechanism through which recessions reshape labor markets in the very long run.