The Effect of Labor Market Shocks across the Life Cycle
利用外生性工作分离，研究生命周期不同阶段遭受不利冲击对劳动力市场结果及教育、流动、家庭结构、退休等重大人生决策的异质性影响。
Economic shocks occur frequently and may cause individuals to reevaluate key life decisions in ways that have lasting consequences for themselves and the broader economy. These decisions are tied to life stages, and the effect of economic shocks may differ depending on when they occur. We exploit exogenous job separations to study the impact of adverse shocks across the life cycle on labor market outcomes and major life decisions: education, mobility, family structure, and retirement. We find significant heterogeneity across the life cycle and conclude that focusing on average effects among workers across the life cycle misses a great deal.