@TechReport{iza:izadps:dp12426,
            	author={Stuart, Bryan Andrew},
            	title={The Long-Run Effects of Recessions on Education and Income},
            	year={2019},
	month={Jun},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={12426},
            	url={https://www.iza.org/index.php/publications/dp12426},
	abstract={This paper examines the long-run effects of the 1980-1982 recession on education and income. Using confidential Census data, I estimate difference-in-differences regressions that exploit variation across counties in recession severity and across cohorts in age at the time of the recession. For individuals age 0-10 in 1979, a 10 percent decrease in earnings per capita in their county of birth reduces four-year college degree attainment by 10 percent and income in adulthood by 3 percent. Simple calculations suggest that, in aggregate, the 1980-1982 recession led to 0.8-1.8 million fewer college graduates and $42-$87 billion less earned income per year.},
	keywords={income;education;human capital;recessions},
            }