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

Tomohiro Machikita

No 83, IDE Discussion Papers from Institute of Developing Economies, Japan External Trade Organization(JETRO)

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.

Keywords: Crisis; Financial crises; Entry-Level labor Market; Job loss; Treatment Effects; Thailand; Labor market; Employment; Wages; 金融危機; 学卒直後の労働市場; 雇用廃止; トリートメント効果; タイ; 労働市場; 雇用; 賃金 (search for similar items in EconPapers)
JEL-codes: C21 D83 J63 J64 (search for similar items in EconPapers)
Date: 2006-12-01
New Economics Papers: this item is included in nep-lab and nep-sea
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Published in IDE Discussion Paper = IDE Discussion Paper, No. 83. 2006-12-01

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