Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The standard neo-classical model of wage setting predicts short-term effects of temporary labor market shocks on careers and low costs of recessions for both more and less advantaged workers. In contrast, a vast range of alternative career models based on frictions in the labor market suggests that labor market shocks can have persistent effects on the entire earnings profile. This paper analyzes the long-term effects of graduating in a recession on earnings, job mobility, and employer characteristics for a large sample of Canadian college graduates with different predicted earnings using matched university-employer-employee data from 1982 to 1999, and uses its results to assess the importance of alternative career models. We find that young graduates entering the labor market in a recession suffer significant initial earnings losses that eventually fade, but after 8 to 10 years. We also document substantial heterogeneity in the costs of recessions and important effects on job mobility and employer characteristics, but small effects on time worked. These adjustment patterns are neither consistent with a neo-classical spot market nor a complete scarring effect, but could be explained by a combination of time intensive search for better employers and long-term wage contracting. All results are robust to an extensive sensitivity analysis including controls for correlated business cycle shocks after labor market entry, endogenous timing of graduation, permanent cohort differences, and selective labor force participation.

College graduates --- Employment

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

College graduates --- Bachelor of arts degree --- Education, Higher --- College graduates --- College graduates --- Evaluation --- Employment --- Social aspects

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Student loans --- College graduates --- Economic conditions

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

For the first time, a major international comparative study was undertaken providing detailed information on the employment and work situation of graduates from higher education institutions in a large number of countries. With the help of a questionnaire survey more than 40,000 graduates from 12 countries reported about their study experiences, the transition from Higher Education to employment and their early career up to four years after graduation. The interviewees from Austria, the Czech Republic, Finland, France, Germany, Italy, the Netherlands, Norway, Spain, Sweden, the United Kingdom and Japan are a unique source of information on Higher Education and graduate employment in Europe. The book indicates a noteworthy variety among economically advanced countries in the competences fostered by Higher Education and the emphasis placed either on laying a broad basis of knowledge or direct preparation for professional tasks. While universities in some countries are strongly involved in ensuring a rapid transition from study to employment, in other countries a long period after graduation is widespread for the search of a suitable career. Graduates from some countries appreciate their study experiences though they criticize a weak preparation for their subsequent assignments, while others less satisfied with higher education in their retrospective view note a satisfying preparation for the world of work. Study often turns out useful to lead to challenging tasks even though remuneration and status remain below expectations. 'The results of this project are extensive, interesting and important' Professor John Brennan, Centre for Higher Education Research and Information, London, U.K. .

College graduates --- Graduates, College --- University graduates --- Universities and colleges --- Employment --- Alumni and alumnae --- #SBIB:316.334.1O350 --- #SBIB:316.334.2A320 --- Onderwijs en economie --- Arbeidssociologie: morfologie van de arbeidsmarkt --- Education, Higher. --- Labor economics. --- Higher Education. --- Sociology of Education. --- Labor Economics. --- Economics --- College students --- Higher education --- Postsecondary education --- Education --- Higher education. --- Educational sociology. --- Education and sociology --- Social problems in education --- Society and education --- Sociology, Educational --- Sociology --- Aims and objectives