City Research Online

Abstract

Using a longitudinal dataset spanning the period 2000-2020, and an identification strategy based on instrumental variables, we examine the existence of scarring in the context of the Korean nursing profession. We find that the prevailing unemployment rate at time of graduation has negative effects on nurses’ wages that remain highly significant up to 6 years after joining the labor market, while working hours are positively scarred for up to 10 years. We also estimate a series of happiness equations to understand nurses’ experiences after joining the labor market, and find that a higher unemployment rate at time of graduation is associated with feelings of worse financial conditions, less happy lives, and lower income satisfaction.

Publication Type:	Article
Additional Information:	Published by Seoul National University. Issued with: Creative Commons Attribution License (CC:BY 4.0). The final published version (version of record) is available online at DOI:10.22904/sje.2024.37.3.001.
Publisher Keywords:	Human capital; Persistence; Scarring; School-to-work transition; Unemployment
Subjects:	H Social Sciences > HB Economic Theory R Medicine > RT Nursing
Departments:	Bayes Business School Bayes Business School > Faculty of Management
SWORD Depositor:	Symplectic Administrator

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