Early-Life Exposure to the Great Depression and Long-Term Health and Economic Outcomes

Valentina Duque and Lauren L. Schmitz

Journal of Human Resources, 2025, vol. 60, issue 6, 1937-1970

Abstract: Using state–year-level variation from the Great Depression, we show that adverse economic conditions experienced in early life are associated with worse labor market outcomes in prime-age years and worse economic well-being, morbidity, and mortality at older ages. These effects become more pronounced as surviving cohort members age, suggesting disparities in the acceleration of age-related physiological damage. Using multiple data sources, we analyze potential mechanisms in childhood and midlife. After evaluating changes in fertility and mortality rates for Depression-era birth cohorts, we conclude that these effects likely represent lower-bound estimates of the true impacts of the economic shock on long-term outcomes.

JEL-codes: E24 I1 I14 I3 J13 J26 (search for similar items in EconPapers)
Date: 2025
Note: DOI: https://doi.org/10.3368/jhr.0421-11584R1
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Persistent link: https://EconPapers.repec.org/RePEc:uwp:jhriss:v:60:y:2025:i:6:p:1937-1970

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