Cohort Effects in Promotions and Wages: Evidence from Sweden and US

Illoong Kwon (), Eva Meyersson Milgrom and Seiwoon Hwang

Discussion Papers from University at Albany, SUNY, Department of Economics

Abstract: This paper studies the long-term effect of the business cycle at the time workers enter the labor market on workers?future promotions and wages. Using the Swedish employer-employee matched data, we find that a cohort of workers entering the labor market during a boom gets promoted faster and reaches higher ranks. This pro-cyclical promotion cohort effect persists even after controlling for workers?initial jobs, and explains most of the wage cohort effects that previous studies have focused on. We repeat the same analyses using personnel records from a single US company, and show that the qualitative results do not change.

Date: 2008
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