EFFECTS OF COHORT SIZE ON EARNINGS: THE BABY BOOM BABIES' FINANCIAL BUST
In: Journal of political economy, Band 87, Heft 5
ISSN: 0022-3808
PAPER FIRST SUMMARIZES 1967-75 WAGE BEHAVIOR. AFTER EXAMINING A CAREER-PHASE MODEL IN WHICH WORKERS AT DIFFERENT PHASES ARE IMPERFECT SUBSTITUTES, ESTIMATES OF EMPIRICAL RELATIONSHIPS BETWEEN COHORT SIZE AND WAGES ARE PRESENTED. RESULTS SHOW INCOME-DEPRESSANT EFFECTS OF COHORT SIZE DECLINE, BUT DO NOT VANISH, OVER THE CAREER.