Growing up in a recession

"Does the historical macroeconomic environment affect preferences for redistribution? We find that individuals who experienced a recession when young believe that success in life depends more on luck than effort, support more government redistribution and tend to vote for left parties. The effe...

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Bibliographic Details
Main Authors: Giuliano, Paola, Spilimbergo, Antonio
Institution:ETUI-European Trade Union Institute
Format: TEXT
Language:English
Published: Bonn 2012
Subjects:
Online Access:https://www.labourline.org/KENTIKA-19187345124919055279-Growing-up-in-a-recession.htm
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author Giuliano, Paola
Spilimbergo, Antonio
author_facet Giuliano, Paola
Spilimbergo, Antonio
collection Library items
description "Does the historical macroeconomic environment affect preferences for redistribution? We find that individuals who experienced a recession when young believe that success in life depends more on luck than effort, support more government redistribution and tend to vote for left parties. The effect of recessions on beliefs is long-lasting. Our findings are supported using evidence from three different datasets. First, we identify the effect of recessions on beliefs exploiting time and regional variation in macroeconomic conditions using data from the 1972-2010 General Social Survey. Our specifications control for non-linear time-period, life-cycle and cohort-effects as well as a host of background variables. Second, we rely on data from the National Longitudinal Survey of the High School Class of 1972 (NLS72) to corroborate the age-period-cohort specification and look at heterogeneous effects of experiencing a recession during early adulthood. Finally, our findings are also confirmed with a sample of 37 countries whose citizens experienced macroeconomic disasters at different points in history, using data from the World Value Survey."
format TEXT
geographic USA
id 19187345124919055279_1933f18bc2524f699fb1301c228ac776
institution ETUI-European Trade Union Institute
is_hierarchy_id 19187345124919055279_1933f18bc2524f699fb1301c228ac776
is_hierarchy_title Growing up in a recession
language English
physical 41 p.
Digital
publishDate 2012
publisher Bonn
spellingShingle Giuliano, Paola
Spilimbergo, Antonio
attitude
economic recession
macroeconomics
social psychology
wages
Growing up in a recession
thumbnail https://www.labourline.org/Image_prev.jpg?Archive=116252493443
title Growing up in a recession
topic attitude
economic recession
macroeconomics
social psychology
wages
url https://www.labourline.org/KENTIKA-19187345124919055279-Growing-up-in-a-recession.htm