Cohort Effects in Promotions and Wages: Evidence from Sweden and the United States

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    • Availability:
      University of Wisconsin Press. 1930 Monroe Street, Madison, WI 53711-2059. Tel: 608-263-0668; Fax: 608-263-1173; e-mail: [email protected]; Web site: http://www.wisc.edu/wisconsinpress/journals
    • Peer Reviewed:
      Y
    • Source:
      37
    • Subject Terms:
      Foreign Countries; Economic Climate; Labor Market; Economic Factors; Wages; Promotion (Occupational); Time Perspective; Context Effect; Cohort Analysis; Career Development
    • Subject Terms:
      Sweden; United States
    • ISSN:
      0022-166X
    • Abstract:
      This paper studies the long-term effects of the business cycle 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 procyclical promotion cohort effect persists even after controlling for workers' initial jobs, and explains at least half of the wage cohort effects that previous studies have focused on. We repeat the same analyses using personnel records from a single U.S. company, and obtain the same qualitative results. (Contains 12 figures, 5 tables, and 21 footnotes.)
    • Abstract:
      As Provided
    • Number of References:
      40
    • Publication Date:
      2010
    • Accession Number:
      EJ889253