Macroeconomic Conditions When Young Shape Job Preferences for Life

Maria Cotofan, Lea Cassar, Robert Dur and Stephan Meier
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Maria Cotofan: Department of Political Economy, King's College London
Lea Cassar: University of Regensburg, CESifo, and CEPR
Stephan Meier: Columbia Business School, CESifo, and IZA

The Review of Economics and Statistics, 2023, vol. 105, issue 2, 467-473

Abstract: Preferences for monetary and nonmonetary job attributes are important for understanding workers' motivation and the organization of work. Little is known, however, about how those job preferences are formed. We study how macroeconomic conditions when young shape workers' job preferences for life. Using variation in income-per-capita across U.S. regions and over time since the 1920s, we find that job preferences vary in systematic ways with experienced macroeconomic conditions during young adulthood. Recessions create cohorts of workers who give higher priority to income, whereas booms make cohorts care more about job meaning for the rest of their lives.

Date: 2023
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https://doi.org/10.1162/rest_a_01057
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Working Paper: Macroeconomic Conditions When Young Shape Job Preferences for Life (2021)
Working Paper: Macroeconomic Conditions When Young Shape Job Preferences for Life (2021)
Working Paper: Macroeconomic Conditions When Young Shape Job Preferences for Life (2020)
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