Work

Resilience from the micro perspective

Year: 2015

Type: article

Abstract: Perhaps uniquely, we combine individual-level data from the American Community Survey 2005–2011 with aggregate data for small areas to examine the resilience of individuals’ wages to the 2008 economic crisis. A Mincer-type wage equation, incorporating market potential and employment density, is estimated, leading to a measure of resilience based on actual wages in 2011 and on a counterfactual obtained from our wage equation. We find that individuals living in areas with a higher level of market potential are more resilient, controlling for individual-level characteristics such as education and ethnicity, indicating that both individual-specific and place-specific factors are important.

Source: Cambridge Journal of Regions Economy and Society

DOI: 10.1093/cjres/rsv004

Authors: J. Doran, B. Fingleton

Institution: University College Cork

Language: English

Topic: Regional resilience and development

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Decent work and economic growth, No poverty, Reduced inequalities

Open Access status: green

Funder: Economic and Social Research Council