Career Crisis? The Impacts of Financial Shock on Entry-Level Labour Market: Experimental Evidences from Thailand in 1997

Tomohiro Machikita

Hi-Stat Discussion Paper Series from Institute of Economic Research, Hitotsubashi University

Abstract: Identifying the conditions of entry-level labour market on employment and wages is difficult because there is non-separability of match qualities from firm specific demand shock at the period of transition from school to work. We utilize Thailand's financial crisis in 1997 as a natural experiment which exogenously shifts labour demand temporally. This model provides three testable hypotheses: (1) entry-level labour market tightens after crisis; (2) disadvantage of newly entrants at the period after crisis decreases overtime; (3) senior or highly educated worker's job and wages are secured. Convincing evidences from Thailand Labor Force Survey support our empirical predictions.

Keywords: Crisis; Entry-Level Labour market; Treatment Effects (search for similar items in EconPapers)
JEL-codes: C21 D83 J63 J64 R23 (search for similar items in EconPapers)
Date: 2005-02
New Economics Papers: this item is included in nep-sea
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