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Resilience from the micro perspective
Doran, Justin; Fingleton, Bernard
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.
Keyword(s): New Economic Geography; USA; Urban Economics; Counterfactual; Resilience
Publication Date:
Type: Journal article
Peer-Reviewed: Yes
Language(s): English
Institution: University College Cork
Citation(s): Doran, J. and Fingleton, B. (2015) 'Resilience from the micro perspective', Cambridge Journal of Regions, Economy and Society, 8(2), pp. 205-223. doi: 10.1093/cjres/rsv004
Publisher(s): Oxford University Press
File Format(s): application/pdf
Related Link(s):
First Indexed: 2018-04-19 06:30:09 Last Updated: 2018-04-19 06:30:09