集團(Cohort)의 크기가 相對所得에 미치는 影響-「베이비 붐」世代를 中心으로-

Effects of Cohort Size on Relative Earnings

In the late 1960s and throughout 1970s, the earnings of young workers have declined relative to older, more experienced workers in the U.S.A. The reason for this is, among other things, the entry of the post World War II baby boom generation into the labor market. Using the 1968-1982 Current Population Survey of tee U.S.A., this study evaluates the long-term effects of cohort size on earnings. Results show that, as workers gain more experience, the negative cohort size effects on earnings grow smaller for those who have high school or less schooling, but grow larger for workers with college education. Two explanations for the results are suggested: Firstly, the rate of demand increase for college educated workes did not keep up with the rate of increased supply by the baby boom generation during the 1970s. Secondly, college educated workers typically have longer stages of career path than less educated workers have. Therefore, when supply of workers increased suddenly, college educated workers have higher competition among them than less educated workers.