Table A.5:
The Long-Run Effects of the 1980–1982 Recession on Income, Wages, and Poverty, OLS and Reduced-Form Estimates
| Dependent variable: | |||||
|---|---|---|---|---|---|
| Log personal income | Log earned income | Log hourly wage | Log family income | In poverty | |
| (1) | (2) | (3) | (4) | (5) | |
| Panel A. Reduced-Form Estimates | |||||
| Interaction between 1979–1982 predicted log employment decrease and age in 1979 | |||||
| 0–10 | −0.213 (0.072) |
−0.248 (0.074) |
−0.143 (0.058) |
−0.199 (0.079) |
0.075 (0.029) |
| 11–19 | −0.134 (0.052) |
−0.152 (0.050) |
−0.148 (0.044) |
−0.151 (0.051) |
0.032 (0.017) |
| Panel B. OLS Estimates | |||||
| Interaction between 1979–1982 log real earnings per capita decrease and age in 1979 | |||||
| 0–10 | −0.084 (0.040) |
−0.105 (0.043) |
−0.049 (0.031) |
−0.090 (0.041) |
0.045 (0.014) |
| 11–19 | −0.030 (0.022) |
−0.041 (0.022) |
−0.028 (0.019) |
−0.052 (0.018) |
0.019 (0.008) |
| Panel C. OLS Estimates | |||||
| Interaction between 1979–1982 log employment decrease and age in 1979 | |||||
| 0–10 | −0.143 (0.038) |
−0.161 (0.041) |
−0.112 (0.029) |
−0.169 (0.046) |
0.058 (0.014) |
| 11–19 | −0.068 (0.025) |
−0.069 (0.026) |
−0.081 (0.024) |
−0.083 (0.024) |
0.011 (0.009) |
Notes: See notes to Table 3 for details on specification and sample.
Sources: BEA Regional Economic Accounts, Census County Business Patterns, Confidential 2000–2013 Census/ACS data linked to the SSA NUMIDENT file