Table A.19:

The Long-Run Effects of the 1980–1982 Recession on Education, Separating the Temporary and Persistent Decline in Log Earnings per Capita

	Dependent variable:
	HS/GED attainment	Any college attendance	Any college degree attainment	Four-year college degree attainment	Two-year college degree attainment	Years of schooling
	(1)	(2)	(3)	(4)	(5)	(6)
Interaction between 1979–1982 decrease in log real earnings per capita and age in 1979
0–10	−0.029 (0.052)	−0.328 (0.141)	−0.526 (0.154)	−0.566 (0.160)	0.040 (0.064)	−2.383 (0.794)
11–19	0.044 (0.040)	−0.167 (0.099)	−0.325 (0.091)	−0.319 (0.093)	−0.005 (0.046)	−1.237 (0.452)
Interaction between 1982–1992 decrease in log real earnings per capita and age in 1979
0–10	−0.050 (0.037)	−0.311 (0.094)	−0.428 (0.116)	−0.507 (0.137)	0.079 (0.039)	−2.204 (0.694)
11–19	−0.076 (0.018)	−0.161 (0.048)	−0.160 (0.059)	−0.187 (0.075)	0.028 (0.030)	−1.040 (0.343)

Notes: Table reports estimates of the interaction between the 1979–1982 and 1982–1992 decrease in log real earnings per capita in individuals’ birth county and indicators for age in 1979. Regressions are estimated by 2SLS, using the predicted log employment change from 1979–1982 and 1982–1992 as instrumental variables. Both instrumental variables use county-by-industry employment shares from 1976. See notes to Table 2.

Sources: BEA Regional Economic Accounts, Census County Business Patterns, Confidential 2000–2013 Census/ACS data linked to the SSA NUMIDENT file