Long-Term Effects of a Recession at Labor Market Entry in Japan and the United States
Ayako Kondo () and
Journal of Human Resources, 2010, vol. 45, issue 1
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.
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Persistent link: https://EconPapers.repec.org/RePEc:uwp:jhriss:v:45:y:2010:i:1:p157-196
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